Closed End Global and Country Funds Message Board

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Strategies & Market Trends : Closed End Global and Country Funds

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To: bob s who wrote (228)	3/29/1998 3:30:00 PM
From: Shoe	Read Replies (1) of 289

MXF discount looks out of line at 22%, even compared to Latin funds generally, and especially on an expense-adjusted basis. Looks like a buying opportunity, IMHO (but then I'm long already). As for MEF, Santander's "liquidity" justification for closed-end status won't bear scrutiny -- the annual report shows the biggest position is $14 million in Grupo Elekra, an issue (EKT) with a market cap of $2.7 billion; also there are chunks of such issues as Cemex, Grupo Televisa (cap $17 Billion), PanAmerican Beverages (cap $3.9 billion). Some positions are actually ADRs. These may well be good investments. IMHO it would not be hard to sell a few shares of them to accommodate redemptions. -- Shoe

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