MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, March 3, 2005 Closed, but Not for Long Being open-ended is looking appealing, to some shareholders of Scudder's Intermediate Government & Agency Trust fund. The shareholders invoked a lifeboat provision to convert from a closed-end fund to an open-ended fund in December, and will vote on the issue in May, reports the Wall Street Journal . The provision allows shareholders of a fund to convert a fund that chronically trades below net asset value. The fund's board will put forward its recommendation on the issue in April. "There is no reason why [the Scudder fund board] shouldn't support this," Cody Bartlett, an investment strategist for the third-largest holder of the fund, Karpus Investment Management. Karpus has suggested to merge the Government & Agency Trust fund with other another Scudder open-ended fund. Printed from: MFWire.com/story.asp?s=9160 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |