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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (32575)	9/16/1998 6:15:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

To All, I bought a first third of Morgan Stanley Asia Pacific (APF) today. I usually like to go country by country with my CEFs and Webs, but this time, the compelling 25% discount and a nearly 35% weighting in Japan, makes me like this regional fund. The Japanese CEFs are selling at premiums and the webs at NAV, so this is a way to get a solid Japanese weighting in the Rising Sun at a discount. I picked this fund way back in the May 1995 issue of Kiplinger's Magazine as one of my top CEF picks, along with HQL. After a 45% rise from $10 in 9 months, I punted APF. I have since jumped back in a couple of times, but only for smallish profits. This time I think it is dirt cheap and I am making APF a long term play. The management of the investments is excellent given MS's straight ahead style. However, Morgan Stuckup has shown a penchant in the past to have rip off rights offerings. I don't think there is any risk of that at these price levels. Shareholders wanted to lynch them at $12 a share. Good Luck, MB