New Germany Fund $10.41 – New York symbol GF

NEW GERMANY FUND $10.41 (New York symbol GF; CWA Fund Rating: Speculative) is a closed-end fund that invests mostly in middle-market (small and mid-cap) German equities. The fund’s manager is Deutsche Asset Management. The $378 million fund’s 51 holdings are currently in Germany (95%) and the Netherlands (5%). The New Germany Fund’s focus on mid-tier German stocks provides investors with access to some of Germany’s fastest-growing companies. The New Germany Fund’s top holdings are K+S (chemicals), 12.9%; Fresenius (health care equipment & supplies), 6.0%; SGL Carbon (electrical equipment), 4.7%; Salzgitter (metals & mining), 4.2%; Q-Cells (solar cell manufacturing), 3.9%; GEA Group (chemicals), 3.8%; Bilfinger Berger (construction & engineering), 3.3%; Stada Arzneimittel (pharmaceuticals), 3.0%; European Aeronautical Defense (Dutch-based aerospace and defense), 2.9%; and United Internet (Internet service provider), 2.6%. New Germany Fund sells for an 18% discount from the current value of its assets. New Germany Fund is a buy.

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