ROC: The ROC Taiwan Fund Message Board

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Strategies & Market Trends : ROC: The ROC Taiwan Fund

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To: bruce bell who wrote (2)	4/22/1998 1:01:00 PM
From: Bill Fortune III	Read Replies (2) of 18

Bruce: With the stock trading at about 8 ¬ and the latest Net Asset Value (NAV) at about 10.42 this translates into a 20% discount. ROC repurchased 1,116,400 shares of outstanding stock in 1997. In addition, this is a closed end fund that may convert this spring to a mutual fund, and the closed end discount would become an instant profit for holders of the stock who bought it at a discount. If purchased at 8 ¬ and stock converts to open-end fund (if NAV is $10.42 -$8 ¬ = $2.17 per share increase.) This does not take into consideration any dividends or distributions that may or may not be declared. Naturally this is all hypothetical but is not out of the realm of possibility. Taiwan market was up 196.31 today Bill Fortune III

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