Winding Up With a 454.5% Gain

Article Excerpt

BRAZIL FUND $61 (New York symbol BZF) (CWA Rating: Aggressive) has now liquidated its portfolio of securities following shareholder approval to wind up the fund. Shareholders had previously rejected a plan to convert Brazil Fund into an open-ended mutual. On June 9, 2006, the fund will pay a single liquidating distribution to shareholders. Brazil Fund has done well for us, rising 454.5% since we first recommend the fund at $11 in 1999. Brazil Fund now trades at a 4% discount to its net asset value. Soon after June 9, holders will receive their full share of the fund’s assets, without paying brokerage commission. Our advice is to hold for the final distribution. distribution…

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