NEW GERMANY FUND $15.92 (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 $451 million fund’s 50 holdings are currently in Germany (93%) and the Netherlands (6%). 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), 6.9%; Fresenius (health care equipment & supplies), 5.6%; Q-Cells (solar cell manufacturing), 5.3%; European Aeronautical Defense (Dutchbased aerospace and defense), 4.7%; SGL Carbon (electrical equipment), 3.8%; GEA Group (chemicals), 3.7%; Solarworld (solar power manufacturing), 3.4%; IVG Immobilien (real estate), 3.2%; United Internet (Internet service provider), 3.1%; and Software (software), 3.0%.
New Germany Fund sells for a 15% discount from the current value of its assets.
New Germany Fund is a buy.
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