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New Germany Fund Inc
New Germany Fund Inc. (GF) is a listed closed-end investment company that invests primarily in German companies. The fund aims to provide long-term capital appreciation by investing in a diversified portfolio of German equities. Here are some key points about the company:
1. Symbol: GF
2. Stock Exchange: New York Stock Exchange (NYSE)
3. Type: Closed-end investment company
4. Inception Date: December 13, 1990
5. Investment Manager: Deutsche Investment Management Americas, Inc. (a subsidiary of Deutsche Bank AG)
Performance:
1. Net Asset Value (NAV)as of March 3, 2023: $27.84
2. Market Price as of March 3, 2023: $25.79
3. Premium/Discount to NAV: -7.48%
4. Average Annual Total Return (year to date): 11.64%
5. Average Annual Total Return (5 years): 6.93%
6. Average Annual Total Return (10 years): 7.56%
Portfolio:
New Germany Fund invests in a diversified portfolio of German equities, aiming to provide long-term capital appreciation. The fund's portfolio is primarily invested in equities, with a focus on large-cap companies in various sectors, including:
1. Finance: 24.7%
2. Industrials: 20.7%
3. Consumer Goods: 14.2%
4. Health Care: 11.4%
5. Technology: 10.3%
6. Energy: 5.5%
7. Materials: 4.4%
8. Consumer Services: 3.8%
9. Real Estate: 1.4%
Earnings:
The fund's earningsare primarily generated through dividends and capital gains on its investments. The fund's dividend yield, as of March 3, 2023, is 3.82%.
Growth:
New Germany Fund's investment manager, Deutsche Investment Management Americas, aims to achieve long-term capital appreciation by investing in a diversified portfolio of German equities. The fund's investment strategy focuses on companies with strong growth potential.
Other relevant information:
1. Dividend Policy: The fund's board of directors has a policy of paying out substantially all of its income, including capital gains, as dividends to shareholders.
2. Repurchase Program: The fund has an active share buyback program, authorized to purchase up to 10% of its outstanding shares.
3. Leverage: The fund may employ moderate leverage, typically within the range of 10% to 25% of its net assets. Leverage is used to accelerate returns, but it can also amplify losses.
4. Tax Efficiency: The fund is designed to minimize tax liabilities for its shareholders, with a focus on tax efficiency. It seeks to minimize distributions and, where possible, distributes long-term capital gains.
Please note that this information is subject to change, and it's always advisable to check for the most up-to-date details on the fund's websiteor other reliable sources.