Two International Closed-end Fund Buys

Article Excerpt

CHILE FUND $17.05 (New York symbol CH) (CWA Rating: Aggressive) invests primarily in Chilean stocks. It’s managed by Credit Suisse Asset Management, a division of Credit Suisse, Switzerland’s second-largest bank. Prices for copper, a key commodity for Chile, are down from the all-time highs they reached in June, 2008, but still remain strong. Chile is a major exporter of copper, particularly to Asia. It’s the world’s biggest supplier of copper. Other important non-mineral exports are forestry and wood products, food and wine. Top holdings are: Compania de Petroleos de Chile SA (Oil & gas), 20.6%; Empresa Nacional de Electricidad (power), 16.1%; Empresas CMPC (pulp & paper), 11.3%; Enersis SA (power), 5.7%; Compania De Aceros del Pacifico SA (Mining), 5.7%; Cencosud (retailing), 5.7%; Banco Santander Chile (banking), 4.5%; Sociedad Quimiday Minera de Chile (Mining), 4.3%; SACI Falabella (retailing), 4.0%; and AES Gener SA (Electric power), 3.3%. The Chilean economy grew 5.2% in 2007. Steady interest rate increases since 2004 have kept inflation at under…

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