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Strategies & Market Trends : Asia Forum
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To: peter michaelson who wrote (589)1/8/1998 9:37:00 PM
From: Polartee  Read Replies (1) of 9980
 
Must be the very irrationale investor. I'm short on some of these funds myself. I can't understand why anyone would buy into the Korea Fund at a 50%+ premium to NAV when the open end Mattews Korea Fund can be bought at zero premium. BTW...see the Thailand thread in Overvalued Stocks group for discussion on shorting KF, TTF and other Asian closed ends.

Have you tried asking the fund companies about the premium? It may be hard to speak to a manager but if you do, ask why they don't issue more shares in a secondary offering (or start a new fund either closed end or open) since the premium implies high demand and they'd be able to earn more management fees. You're better off posing as a potential investor who would buy if the premium were zero or less. If you say you're a short seller they might not wnat to talk to you. My work days are too hectic to call.
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