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Closed-End Funds on Sale

Many closed-end funds trade for less than their net asset value (NAV). But a growing number have been turning themselves into open-ended funds that 
trade at or near NAV. That means savvy shareholders who bought into these funds 
at a discount have been reaping windfalls. Here are some closed-end funds that 
could open in coming months and are still trading under NAV:

FUND                           DISCOUNT        COMMENTS
                               FROM NAV
GT GLOBAL DEV. MKTS               8.0%         VOTE TO OPEN SET FOR OCT. 21
LATIN AMERICA GROWTH             20.5          SAVVY SHAREHOLDERS
PILGRIM AMERICA BANK & THRIFT     5.0          VOTE TO OPEN ON OCT. 16
SCUDDER SPAIN & PORTUGAL         16.0          VOTE FOR NEW ADVISER OCT. 21
TCW/DW EMERGING MKTS.             8.0          SCHEDULED TO OPEN IN 1998
TEMPLETON DRAGON                 22.5          VOTE TO RESTRUCTURE SEPT. 23
TEMPLETON VIETNAM OPPORTUNITIES  11.0          PROS BET FUND WILL OPEN

DATA: THOMAS J. HERZFELD ADVISORS, CDA/SPECTRUM


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Updated Sept. 18, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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