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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (17921)	10/23/2003 5:36:53 PM
From: Paul Senior	Respond to of 78702

Jurgis Bekepuris: I haven't a good reason for choosing IFN over IIF. IFN has a little greater discount to NAV. It's somewhat positive to me that management has stated they'll have an on-going buyback. That will keep the discount narrow. OTOH, I want fund monies going into Indian companies shares - that's why I bought the fund - rather than having management sell shares of those stocks to to buy IFN shares. I don't like what I've seen in past about how Morgan Stanley operates in the closed-end world. (They're IIF's fund manager.) I believe they make their money by taking a percentage of the assets they manage. So there's an incentive for adding additional shares to raise more capital and raise the asset base. In past, I have seen them price offerings of new stock below current price which in turn might be below NAV. In my limited experience, the result is to bring the stock price down for current shareholders. That said, IFN has some concerns for me also. (heavy weighting in one unknown-to-me stock.) I'm still doing research on IFN (Thanks for the alert about tax consequences.), and I'll look closer at IIF as well. It's not an either/or situation for me. Perhaps a position in either or both stocks might be suitable if one wants an exposure to India.

To: Jurgis Bekepuris who wrote (17921)	11/19/2003 5:56:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78702

Added a bit more today to my tiny position in Indian country fund IFN. Also started a very small buy of Central Euro Russia Fund CEE (A Dale Baker recommendation) finance.yahoo.com For me, these presumably professionally-managed funds seem the best way to capitalize on the growing standard of living that I expect the people of these countries to achieve.