Buy Europe at a Discount

Article Excerpt

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 Equity Fund can also invest up to 20% of its assets in major stocks in other European countries. The fund’s top holdings are: Total SA (French oil & gas), Societe Generale (French bank), E.ON (German utility), SAP (German software), Banca Intesa (Italian bank), DaimlerChrysler (German automaker), Siemens (German industrial conglomerate), Hypo Real Estate (German mortgage finance), AXA (French insurance) and Capitalia (Italian bank). European Equity Fund has an expense ratio of 1.74%. The fund sells for an 11% discount from the current value of its assets. European Equity Fund is a buy. buy…

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