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To: Bill Harmond who wrote (76970)	9/9/1999 3:10:00 AM
From: Mark Fowler	Respond to of 164684

I have never known a closed-end fund to trade at a premium, especially overseas funds. I took it from your post that you think a discount is a special attraction. << I understand what your saying . I remember a few yrs. ago a number of Asian funds(closed-ended) were hot at the time maybe early '90's andd were priced at one time above there Nav's. What i understand is the shrs. of closed-end funds are limited in number, are listed on exchanges and trade like common stocks. Investors sell to another investor and not to the fund. The price of the shrs. would not be net asset value, but whatever the market process determines. I have seen them trade at both a discount and premium to net asset value.