European Stars And Stripes (Newspaper) - June 12, 1988, Darmstadt, Hesse Page 20 the stars and stripes sunday june 12,19bb investor s guide business news by Bill Doyle q. Clowd end Bond funds have been recommended la int to bet Ter my to latest than Mutual Tomb balding Bonds. What it your advice abort the Solt Billly of Clofed end band funds for in Lars seeking in come a. They can work out Well but really Are not much different from Bond Mutual funds. Individual re sults vary depending on the performance of each closed end fund and Mutual fund. The tech Nical Nam for a Mutual fund is open end investment a Doyle Mutual fund is open end because it stands ready to redeem its shares on any business Day. Most Mutual funds redeem their shares at net asset value which is calculated by adding up he value of All securities and other assets the fund holds and then dividing by the number of share outstanding. Some funds charge redemption fees hat reduce the amount a shareholder receives. The technical name for a closed end fund is closed end investment that Type of company does not redeem its shares a share Holder who wants Oul must sell his shares in the marketplace. Like a Mutual fund a closed end fund holds Many different securities in its investment portfolio. Some hold Bonds some hold stocks some hold both. Both Mutual funds and closed end funds Are managed invest ment companies meaning the peo ple who run them buy and set in vestment securities in attempts to increase per share asset value and provide income to shareholders. Also like a Mutual i und a closed end fund collects interest or dividends from the securities i holds and after deducting its operating expenses pays that Money to shareholders As income dividends. Both types of companies also pass along to shareholders As capital gains distribution any profit from securities transactions. A closed end funds seem to hate an advantage Over up Wrijil Mutual funds became the dosed end funds do not continually invest new Money and Are not faced with shareholder redemption. There fore they do not need to keep a portion of their assets in Cash. Is that True a. The two reasons you cite Are Correct. Whether or not that gives the closed end funds a permanent advantage Over Mutual funds is open to question. Without the constant Sale of new shares a closed end fund does not have new Money rolling in and does t have to worry about buying new securities. Quite often however a fund s Pon Fogo manager spots i Tractive investments and would like10 have Cash on hand to buy. In a situation such As that a closed end fund without a Cash Cushion has to sea some of its present holdings in order to take advantage of new in vestment opportunities. The second reason you cite is bigger advantage for closed end funds. Because it does not have to worry about having Cash on band to handle possible redemption a closed end fund can keep All of its Money invested. Dow ends week above 2100 new York up the Stock mar Ket staged an impressive Advance Ian week pushing the Dow Jones Industrial average Back above inc 2100 level for the first time since mid april. The Dow which Rose 8.36 Friday closed the week at 2101.71, up 30.41 Points or 1.5_percent, for the week. On Friday the Dow was ahead about 21 Point at mid afternoon before Retreat ing. The Market s Best Day of the week was wednesday. Prices surged in the heaviest trading Day of the year As Market participants put aside recent concerns Over higher inflation. The Dow jumped 48.36points. Volume soared to 310,030,000 shares the sixth highest in nose history and up from the previous High for inc year of we Are going to have a lot of trouble advancing at these Levels hid Jon Gro Veman head of equity trading at latin Bure Thalman and co. The hither we go the harder it will be to rally Gail Dudack a Market analyst with . Warburg said the Market should remain relatively quiet on monday ahead of the april report on the . Merchandise Trade deficit scheduled for release tuesday morning. Before the Market opened Friday the labor department said the produce Price Index Rose 0.5 percent in May. Al lowing increase of 0.4 percent in april and 0.6 percent in March. The May in crease was in line with Market expectations. Broad Market indicators posted Gainson the week. The new York Stock Exchange composite Index Rose 2.58 to 152.89. Standard and poor s Soo Stock Index added 4.81 to close the week at271,26 Reagan previews economic Summit Washington a president Reagan said saturday that there will be much to celebrate in the Way of world economic growth As he attends his eighth and last Summit of industrialized democracies in Toronto june 19-21, in his weekly radio address from Camp David the presidential Retreat in the Cato tin mountains of Maryland new York Exchange new torn Nepi it 15 Jill Tarn urn in new Vort Stock litter a Emp Man tuning for Najiy Ink of Jill let min. 12.7m,900 19 n a jew Itu conc to Eoo 511 him pit i cd Lily ,7� 5h w in Euwin con t.739, to 4s h to i.b57.im pm i Don Luck 1.jolboo 75 h ran i to Ochtel Blum Genniel Kim top i to to mi.26.4� a i.95.fjoo Dpi uan can mtg Eil fart main co 1-1.301.70 400 1,148,400 Hind prices from Page 19 a nip till 991 j Al trip 7.17 741. Gn11 7,11 101, of i 11h 12.421 ,01 Tat in Al 949 us. A Natl 9.h flit 02 mtg 11,29 no to. 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Dill Otic n w vow us Thi 10 or Kim hot i mnlon3lxi ii fungi Amston i knt Iraj. 1v4 Tytel Utt Dana Faval 1.122,400 1s-3z my glib 745,600 1du in Dan cup s40.400 s3 Assn no Sis a Kirum sulm 3fj2.100 in eng Ortix 3iojsoo ii Lanmar lil j9s.ooo Lacap a it in i with lower lax rates he sail he said America had Ted the Way in tax cuts and other conservative economic policies and the other industrialize democracies had followed. It s not surprising that country afle country Bas Folk turf us on the path to greater economic Freedom and begun to replace their statist policies with de regulation privatization and Freer on the Issue of Trade he said i want to reaffirm my commitment to enactment this year irresponsible Trade legislation. To help achieve positive Trade legis lation i have directed my senior adv san to stand ready to assist the congressional leadership on a new Trade Bill one that will strengthen America s economic competitiveness and create even More new jobs for americans. 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