Updates on Foreign Closed-End Funds

Article Excerpt

CHILE FUND $21.02 (New York symbol CH) (CWA Rating: Aggressive) has net assets of $209.4 million U.S. It’s managed by Credit Suisse. Prices for copper, a key commodity for Chile, are down from their highs, but still remain strong. Chile is a major exporter of copper, particularly to Asia. It’s the world’s biggest supplier of copper. Other important non-mineral exports are forestry and wood products, food and wine. Top holdings are Compania de Petroleos de Chile (resources), 17.5%; Empresa Nacional de Electricidad (electric power), 14.7%; Empresas CMPC (pulp & paper), 12%; Enersis (electric power), 6.2%; Cencosud (retailing), 5%; Banco Santander Chile (banking), 4.9%; Vina Concha y Toro (wineries), 4.1%; SACI Falabella (retailing), 3.8%; Compania Cervecerias Unidas (beverages & food), 3.4%; and Banco de Credito e Inversiones (financial services), 2.9%. The Chilean economy grew 6.3% in 2005, and 4% in 2006. Steady interest rate increases since 2004 have kept inflation at under 3%, but the rate increases, plus higher energy prices, slowed the economy…