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Strategies & Market Trends : Value Investing

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To: Allen Furlan who wrote (4184)5/28/1998 8:52:00 PM
From: pcyhuang  Read Replies (2) of 78669
 
ROC Taiwan Fund

Hi,Allen:

The ROC fund is scheduled to have an annual meeting next week. One
item on the agenda is to vote on whether to turn the fund into an
open end one. For some reasons, I receieved notice from the broker
only about the meeting, but didn't received the proxy voting material.
Last week, when I checked, the fund had net asset value of US$9.65
compared to current market price of <US$7.50. In the past, the
manangement would sometimes reduce the number of shares outstanding
by purchasing the shares in the open market. In conclusion, I believe
that the shares is one of the few better managed Asian funds.

best regards,

pcyh
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