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

To: yard_man who wrote (49600)3/3/1999 3:30:00 PM
From: Knighty Tin  Read Replies (1) | Respond to of 132070
 
Tip, There is no risk from unrealized or realized losses. In fact, it is one of the world's great tax scams for you and I. If the stocks go up and they realize gains, they won't have to distribute them and we won't have to pay taxes thanks to tax loss carryforwards.

Pakistan's restrictions are more like Chile's and Korea's and Taiwan's. They just don't want the day trader mentality coming in and messing up their markets. Not that they could get more messed up. But funds are restricted in how much they can pay out to foreign shareholders and open ending would not be feasilble. That hurts valuation.



To: yard_man who wrote (49600)3/3/1999 5:13:00 PM
From: eWhartHog  Read Replies (2) | Respond to of 132070
 
tippet,

This was well answered by MB. The Pakistan capital controls make a repurchase of PKF stock by the fund itself less likely, since its assets are tied up in Pakistan. Other Morgan Stanley CEFs have had repurchases when discounts became wide, though these have been abandoned when the discounts narrowed.

Regards,
John


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