NEW GERMANY FUND $18.50 (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 $486 million fund’s 56 holdings are currently in Germany (94%), the Netherlands (4%) and Ireland (2%). The New Germany Fund’s focus on mid-tier German stocks provides investors access to some of Germany’s fastest-growing companies
The New Germany Fund’s top holdings are Saltzgitter (metals and mining) at 4.8%; Fresenius (health care equipment), 4.6%; K+S (chemicals), 4.3%; GEA Group (chemicals), 3.6%; Software (software), 3.3%; Bilfinger Berger (construction and engineering), 3.2%; European Aeronautical Defense (Dutch-based aerospace and defense), 3.2%; SGL Carbon (electrical equipment), 3.1%; Rheinmetall (industrial conglomerate), 2.9%; and Celesio (healthcare providers and services), 2.9%.
New Germany Fund sells for a 10% discount from the current value of its assets.
New Germany Fund is a buy.
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