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Strategies & Market Trends : Korea Fund

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To: john dodson who wrote ()	8/1/1998 12:23:00 PM
From: Moritz	Read Replies (1) of 3

Hi, I have quite a bit of experience in Closed-End Funds. I myself recently went "bottom-fishing" in Asia. I do think that there are some values to be found in the Asia today, especially Korea and Thailand. The trouble with the Korea Fund (and reason to avoid it) is that it trades at a high premium to its Net Asset Value (NAV). CEF NAV's are listed weekly in the NY Times and Wall Street Journal. There is also a site WWW.ICEFI.COM dedicated to them. There is an open-end fund (Matthews Korea Fund) that you can buy at NAV every day. Also, there are some diversified Asian equity funds that trade at discounts to NAV!! My favorite is GRR.N (Asian Tigers Fund) which (last time I looked) had about 20% Cash, 25% in Hong Kong, 25% in Singapore, and the rest in spread out throughout Asia (except no China, Japan or Indonesia). They have a web site where you can check out what the portfolio looks like now (or at least three months ago). GRR closed down at about 5 1/2 on Friday.

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