Sunday, June 17, 2007

Closed end funds for Central & Eastern Europe and Russia

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I've already written some articles about ETFs focused on eastern european countries. Today I'd like to provide 3 popular closed end funds which are underlaying assets mainly from Hungary, Czech Republic, Turkey and Poland plus Russia. Those CEF are traded on NYSE so accessible for US investors.

1. Central Europe & Russia Fund CEF (CEE)
2. Templeton Russia & Eastern Europe Fund CEF (TRF)
3. Morgan Stanley Eastern Europe Fund Inc. (RNE)

CEE is diversified by many countries included in but mainly from energy sector. TRF is almost only russian fund but composed strongly from telecommunication companies. RNE has majority again from Russia with wide range of sectors. Only RNE has currently share price ($37) below NAV (net assets value) of its holdings ($40).


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