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Strategies & Market Trends : WEBS for international investing

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To: peter michaelson who wrote (35)	9/2/1998 4:05:00 PM
From: Polartee	of 47

Halted for news. News release today. I suspect that convertibility problems, (i.e., in redeeming the WEBS for the underlying stock basket and then selling the basket for dollars) means this thing will be converted to a closed end fund since it won't be possible for arbitrage to keep the fund near at NAV. I don't know if conversion to a CEF would be good or bad for holders but if it traded at a premium like Malaysia Fund, that would be great.

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