Scudder Moves to a Premium

Article Excerpt

SCUDDER NEW ASIA FUND $22.95 (New York symbol SAF; SI Rating: Aggressive) invests in a diversified portfolio of Asian and Pacific Rim stocks. It’s managed by Deutsche Asset Management. Scudder New Asia has 24% of its assets in Korea, 17% in Japan, 16% in Taiwan, 15% in Hong Kong, and 8% in China. The fund invests in companies with superior management, dominant market positions, strong balance sheets and improving earnings. Top holdings include Samsung Electronics, Daegu Bank of Korea and Taiwan Semiconductor. We still like the long-term outlook for the fund. However, Scudder New Asia now trades at about a 1% premium to net asset value, now at $23.11. No matter how appealing their area of investment, it only pays to buy closed-end funds when they are trading at a discount to asset value. Scudder New Asia Fund is now a hold. hold…

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