The European Equity Fund, Inc., The New Germany Fund, Inc. and The Central Europe and Russia Fund, Inc. Announce Next Tender Offer Measurement Period
The Central Europe and Russia Fund, Inc. (NYSE: CEE), The European
Equity Fund, Inc. (NYSE: EEA) and The New Germany Fund, Inc. (NYSE: GF)
(each a “Fund” and, collectively, the “Funds”) announced today that each
Fund’s next measurement period will commence on Monday, March 25, 2013
and will expire on Friday, June 14, 2013. The measurement period is
being set in accordance with the terms of each Fund’s
previously-announced Discount Management Program (each a “Program”). The
terms of the Programs require a Fund to conduct a tender offer if its
shares trade at an average discount to net asset value of more than 10%
during the applicable twelve-week measurement period.
For more information on EEA, GF or CEE, including the most recent
month-end performance and presentations, visit www.dws-investments.com
or call (800) 349-4281 or 00-800-2287-2750 from outside the US.
The European Equity Fund, Inc. is a diversified, closed-end
investment company seeking long-term capital appreciation through
investment primarily (normally at least 80% of its assets) in equity or
equity-linked securities of companies domiciled in European countries
utilizing the Euro currency. Investing in foreign securities,
particularly those of emerging markets, presents certain risks, such as
currency fluctuations, political and economic changes, and market risks.
Any fund that concentrates in a particular segment of the market will
generally be more volatile than a fund that invests more broadly.
The New Germany Fund, Inc. is a diversified, closed-end investment
company seeking capital appreciation primarily through investment in
equity or equity-linked securities of small and mid-cap German
companies. The Fund may invest up to 35% of its assets in large cap
German companies and up to 20% in other Western European companies.
Investing in foreign securities presents certain risks, such as currency
fluctuations, political and economic changes, and market risks. Any fund
that concentrates in a particular segment of the market will generally
be more volatile than a fund that invests more broadly.
The Central Europe and Russia Fund, Inc. is a non-diversified,
closed-end investment company seeking long term capital appreciation
through investment primarily in equity or equity-linked securities of
issuers domiciled in Central Europe and Russia. The Fund is
non-diversified and can take larger positions in fewer issues,
increasing its potential risk. Investing in foreign securities,
particularly those of emerging markets, presents certain risks, such as
currency fluctuations, political and economic changes, and market risks.
Any fund that focuses in a particular segment of the market will
generally be more volatile than a fund that invests more broadly.
The shares of most closed-end funds, including the Funds, are not
continuously offered. Once issued, shares of closed-end funds are
bought and sold in the secondary market. Shares of closed-end
funds frequently trade at a discount to NAV. The price of a fund’s
shares is determined by a number of factors, several of which are beyond
the control of the fund. Therefore, a fund cannot predict whether its
shares will trade at, below or above NAV. There can be no assurance that
the Program will be effective in reducing the Funds’ market discounts.
Investments in funds involve risk. Additional risks of the Funds are
associated with international investing, such as government regulations
and differences in liquidity, which may increase the volatility of your
investment. Foreign security markets generally exhibit greater price
volatility and are less liquid than the US market. Additionally, the
Funds focus their investments in certain geographical regions, thereby
increasing their vulnerability to developments in that region and
potentially subjecting the Funds’ shares to greater price volatility.
Some funds have more risk than others. These include funds, such as EEA,
GF and CEE, that allow exposure to or otherwise concentrate investments
in certain sectors, geographic regions, security types, market
capitalization or foreign securities (e.g., political or economic
instability, which can be accentuated in emerging market countries).
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.
NOT FDIC/NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
NOT
A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
DWS Investments is part of Deutsche Bank’s Asset & Wealth Management
division and, within the US, represents the retail asset management
activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas,
Deutsche Investment Management Americas Inc. and DWS Trust Company. R-
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