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The Central and Eastern Europe Fund, Inc. (CEE) is a closed-end management investment company managed by DWS Investments, a prominent arm of Deutsche Asset Management. Founded in 1956, DWS Investments is the leading mutual fund company in Germany and ranks within the top 10 globally. The primary objective of CEE is to achieve long-term capital appreciation by investing in equity or equity-linked securities of issuers based in Central and Eastern Europe.
The Fund has a diversified portfolio that spans across various sectors including technology, healthcare, finance, and consumer goods. This strategy allows investors to gain exposure to some of the most dynamic and rapidly growing markets in Europe. The Fund has shown consistent performance, leveraging DWS Investments' extensive expertise and market insights.
In recent developments, CEE has focused on enhancing its investment strategies and has entered into key partnerships that aim to optimize portfolio performance. The Fund's management team regularly reviews and adjusts its holdings to align with market trends and economic conditions in Central and Eastern Europe. This proactive approach ensures that the portfolio remains well-positioned to take advantage of emerging opportunities while managing risk effectively.
Financially, CEE has maintained a robust performance track record, supported by strong governance and a clear investment philosophy. The Fund offers investors the potential for significant returns by tapping into under-researched and underrepresented markets. Through its strategic investments, CEE aims to deliver sustainable growth and value to its shareholders.
For the latest news and updates on The Central and Eastern Europe Fund, Inc., visit our dedicated page on StockTitan.
The Central and Eastern Europe Fund (NYSE: CEE) and The New Germany Fund (NYSE: GF) announced the Annual Meeting of Stockholders scheduled for June 22, 2023 at 10:00 a.m. ET in New York City. Stockholders of record as of April 28, 2023 can vote on the election of Directors and approval of auditors. The Central and Eastern Europe Fund is non-diversified, which raises its risk profile, while The New Germany Fund is diversified but focuses on Germany, increasing vulnerability to local events. Both Funds face risks from geopolitical issues, including sanctions affecting Russia and market volatility due to various global uncertainties.
Investors should be aware of potential market volatility due to concentrated investments and geopolitical risks. These dynamics may affect share prices, with closed-end funds often trading at a discount to net asset value.
The Central and Eastern Europe Fund (NYSE: CEE), The New Germany Fund (NYSE: GF), and The European Equity Fund (NYSE: EEA) announced distributions for 2022. CEE and EEA will issue distributions primarily in stock, allowing stockholders the option of cash payouts as of December 30, 2022. GF's distributions will be in cash. Key figures include CEE at $0.2387, GF at $0.0431, and EEA at $0.1450 per share. The announcement comes with warnings about the risks associated with foreign investments, including market volatility and geopolitical events.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) has announced a change in its portfolio management. Sebastian Kahlfeld will succeed Sylwia Szczepek as the Fund’s portfolio manager starting August 1, 2022. Kahlfeld, who has been with the Fund's management team since 2011, will transition from his role as deputy portfolio manager, a position Szczepek has held since 2014. This change aims to refresh the management approach amidst ongoing market volatility due to geopolitical tensions and economic sanctions affecting the region.
The Central and Eastern Europe Fund (NYSE: CEE), The European Equity Fund (NYSE: EEA), and The New Germany Fund (NYSE: GF) have announced an extension of their share repurchase authorization. Each Fund can buy back up to 10% of its outstanding shares during the period from August 1, 2022, to July 31, 2023. Specific repurchase amounts include 622,066 for CEE, 708,104 for EEA, and 1,756,928 for GF. Repurchases will occur when deemed beneficial for each Fund, and no buybacks will happen if shares are trading at a premium to net asset value.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) and The New Germany Fund, Inc. (NYSE: GF) held their Joint Annual Meetings of Stockholders on June 23, 2022. All nominated directors for both funds were elected, with CEE approving a change in its investment policy to limit industry concentration to 25%. The appointment of Ernst & Young LLP as independent auditors for both funds for the 2022 fiscal year was ratified. These changes and elections aim to strengthen fund governance while adapting investment strategies.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) has decided not to switch its benchmark from the MSCI Emerging Markets Eastern Europe Index to a custom blend, following their Board of Directors' assessment. The Fund will continue using the MSCI Emerging Markets Eastern Europe Index as its benchmark. However, the Board will still advocate for stockholder approval regarding the change in the concentration policy focusing on energy sector investments at the upcoming Annual Meeting of Stockholders.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) announced at its upcoming Annual Meeting on June 23, 2022, stockholders will vote on a proposal to amend its investment concentration policy. Currently focused on the energy sector, the Fund seeks to allow diversification, prohibiting investment of 25% or more in any one industry. Additionally, the Fund plans to change its benchmark index from the MSCI Emerging Markets Eastern Europe Index to a custom blend that includes indices from Germany, Austria, Switzerland, and Eastern Europe, pending approval.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) and The New Germany Fund, Inc. (NYSE: GF) announced their Annual Meeting of Stockholders on June 23, 2022. The meeting will be held at 10:00 a.m. Eastern time at DWS Investment Management Americas, Inc. in New York. Shareholders on record as of April 29, 2022 can vote on director elections and auditor approvals. The press release highlights risks associated with investing in foreign securities, market volatility, and trading discounts of closed-end funds.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) released updated portfolio holdings as of March 31, 2022, indicating changes since March 14, 2022. The fund continues to hold securities from certain Russian issuers subject to US and other sanctions, asserting compliance with applicable regulations. Investing in such foreign securities entails risks including currency fluctuations, political changes, and market volatility. The fund is non-diversified, concentrating investments primarily in the energy sector and emerging markets.
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) updated its portfolio holdings as of March 14, 2022, revealing continued investments in Russian securities amidst ongoing sanctions. As of the reporting date, only Alrosa PJSC remains a direct local equity holding. In a proactive measure, the Fund's investment advisor, DWS International GmbH, has voluntarily waived 50% of its advisory fees, supplementing a prior 10 basis points waiver effective from January 1, 2022, through December 31, 2022. This move aims to mitigate costs for investors during volatile market conditions.
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