WEBS MALAYSIA (AMEX:EWM) Message Board

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Strategies & Market Trends : WEBS MALAYSIA (AMEX:EWM)

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To: peter michaelson who wrote (1)	10/15/1998 11:32:00 AM
From: Rational	Read Replies (1) of 33

Peter: Till Sept 1, EWM was exactly the KLSE value divided by the exchange rate: an open-ended fund. In my opinion: The exchange rate being announced by WEBS is unethical because it is fictitious; they do not know the correct rate; they may be trying to scare investors. My discussion with WEBS suggests that they want to keep the fund trading as a closed-end fund, but maintain the technical status of an open-end fund, under SEC rules, so that they do not have to make SEC filings required of closed-end funds. The premium of MF is based on NAV at the official rate of 3.8 ringgit per US$. You can call them. Please post any new information you may obtain. Rational

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