CENTRAL EUROPE AND RUSSIA FUND $48.14 (New York symbol CEE; CWA Fund Rating: Speculative) is a closed-end fund that invests mostly in larger cap stocks from Russia and central Europe. The fund’s manager is Deutsche Asset Management International.
The $880.2 million fund’s 60 holdings are currently invested in Russia (55%), Poland (17%), Turkey (11%), Czech Republic (6%), Hungary (5%), Austria (2%) and Bermuda (1%).
Central Europe and Russia Fund’s top holdings are Gazprom (a Russian gas utility) at 14.9%; Lukoil (Russian oil and gas), 6.3%; Norilsk Nickel (Russian metals and mining), 5.6%; Rosneft Oil Company (Russian oil and gas), 5.0%; Powszechna Kasa Oszczednosci (Polish bank), 4.6%; Sberbank (Russian bank), 4.6%; Bank Pekao (Polish bank), 3.6%; Telekomunikacja Polska (Polish telecom), 3.6%; and Turkiye Garanti Bankasa (Turkish bank), 2.8%.
Central Europe and Russia Fund sells for a 13% discount from the current value of its assets.
Central Europe and Russia Fund is a buy.
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