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Topic: How To Invest

NEW IRELAND FUND $4.26 – New York symbol IRL

NEW IRELAND FUND $4.26 (New York symbol IRL; Shares outstanding: 5.1 million; Market cap: $21.8 million; CWA Rating: Aggressive) invests in Irish companies. The Bank of Ireland manages the $50.9-million New Ireland Fund. The bank dates back to 1783.

Lower housing prices and a struggling banking sector have hurt the Irish economy. However, the country is open to foreign investment, and has invested heavily in education and training. It is also part of the euro currency zone. These factors should benefit the Irish economy over the long term.

The New Ireland Fund’s top holdings are: CRH plc (building materials), 25.0%; Ryanair Holdings (airline), 15.0%; DCC plc (business services), 7.3%; Kerry Group (food products), 5.0%; Elan Corp. (health-care services), 5.0%, Aryzta AG (agriculture and food), 4.3%; United Drug plc (health-care services), 3.3%; Allied Irish Banks, 3.2%; and FBD Holdings (financial services), 2.4%.

The New Ireland Fund holds stocks in the following major industries: construction/building materials, 29.5%; transportation, 16.6%; food and beverages, 9.3%; health-care services, 8.2%; business services, 7.3%; financial, 4.9%; diversified financial services, 4.6%; food and agriculture, 4.3%; and agricultural operations, 2.3%.

The New Ireland Fund trades for 22% less than the value of its assets. The fund is still a buy.

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