EUROPEAN EQUITY FUND $10.64 (New York symbol EEA; CWA Fund Rating: Conservative) invests mainly in large-capitalization European stocks in the 12 countries that use the Euro currency. This includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain.

The fund’s manager is Deutsche Asset Management, owned by Deutsche Bank, one of the world’s largest banks. European …read more »

INDIA FUND $47 (New York symbol IFN; CWA Rating: Aggressive) has fallen from its high of $65 in early May, along with Indian stock markets.

The market declines came even though India’s economy grew at a strong annualized rate of 9.3% in the first quarter of 2006. That’s around China’s impressive growth rate of between 9% and 10%.

Fears that a possible …read more »

BRAZIL FUND $61 (New York symbol BZF) (CWA Rating: Aggressive) has now liquidated its portfolio of securities following shareholder approval to wind up the fund. Shareholders had previously rejected a plan to convert Brazil Fund into an open-ended mutual.

On June 9, 2006, the fund will pay a single liquidating distribution to shareholders. Brazil Fund has done well for us, rising …read more »

ABERDEEN ASIA-PACIFIC INCOME INVESTMENT $7.98 (Toronto symbol: FAP) (CWA Rating: Income) is a closed-end fund that invests mainly in Australian debt instruments. It also invests in U.S. dollar denominated bonds of Asian countries and in Asian bonds. The fund has net assets of $559.2 million. The fund units now trade at a 6% discount to net asset value.

Aberdeen Asia-Pacific pays …read more »

ISHARES MSCI JAPAN INDEX FUND $15.05 (American Exchange symbol EWJ; buy or sell through a broker) is an exchange-traded mutual fund that tries to match the return of the MSCI Japan Index (Morgan Stanley Capital International Japan Index). The MSCI Japan Index is a benchmark for Japanese equity performance. The iShares Japan Index Fund charges a fee of 0.84% of …read more »

SCUDDER NEW ASIA FUND $22.95 (New York symbol SAF; SI Rating: Aggressive) invests in a diversified portfolio of Asian and Pacific Rim stocks. It’s managed by Deutsche Asset Management.

Scudder New Asia has 24% of its assets in Korea, 17% in Japan, 16% in Taiwan, 15% in Hong Kong, and 8% in China.

The fund invests in companies with superior management, dominant …read more »

BRAZIL FUND $62 (New York symbol BZF) (CWA Rating: Aggressive) will not convert into an open-ended fund, as proposed by its managers. Shareholders rejected the plan at a special meeting.

Brazil Fund now trades at a 6% discount to its net asset value. Brazil is the most populous country in South America, and it has the biggest economy.

Brazil Fund is up …read more »

ALLIANT ENERGY CORP. $32 (New York symbol LNT; WSSF Rating: Average) has agreed to sell its investments in four Chinese power companies for $84 million. The new owners will assume $23 million in debt related to these operations. Alliant still plans to sell two more plants in China with a book value of $5 million.

To put these figures in context, …read more »

ECONOMIC INVESTMENT TRUST $79 (Toronto symbol: EVT) holds a well-diversified portfolio of high-quality Canadian, U.S. and foreign stocks. In 2002, the trust changed its investment policy to allow for more non- Canadian investments.

The $514 million fund’s largest holdings include E-L Financial, Algoma Central Railway, Bank of America, Honda Motor, Hewlett-Packard, ConocoPhillips, Time Warner, Posco, Citigroup and Sumitomo Mitsui Financial Group. …read more »

SWISS HELVETIA FUND $15.79 (New York symbol SWZ; CWA Rating: Conservative) invests mainly in large-capitalization Swiss stocks. The manager of the fund is Hottinger Group, which, as Banque Hottinger, dates back to 1786.

Swiss Helvetia Fund will gain along with a pick-up in the U.S., one of Switzerland’s largest markets. Continued growth in the U.S. will help the exportoriented Swiss economy, …read more »