European recovery at a discount

Article Excerpt

EUROPEAN EQUITY FUND $6.72 (New York symbol EEA; CWA Fund Rating: Conservative) should gain from a continued economic recovery in Europe, particularly in Germany and France, the two countries where it has 50% of its investments. Germany grew 1.3% in the second quarter of 2009, and France grew 1.4%. European Equity Fund mainly invests in large-capitalization European stocks in the 16 countries that use the Euro currency. It may invest up to 20% of its assets in countries that do not use the Euro currency. The countries that use the Euro currency are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia, Cyprus, Malta and Spain. Geographically, the fund has 34% of its assets in Germany, 16% in France, 15% in Spain, 8% in the Netherlands, 7% in Italy, 3% in Ireland and 3% in Sweden. The fund sells for a 15% discount from the current value of its assets. Its MER is 1.43%. European Equity Fund is a hold…

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