The Central and Eastern Europe Fund, Inc. and The New Germany Fund, Inc. Announce Annual Meetings of Stockholders

Rhea-AI Summary

The Central and Eastern Europe Fund, Inc. and The New Germany Fund, Inc. will hold their Annual Meetings of Stockholders on June 27, 2024. Shareholders will consider the election of Directors and approval of auditors. The Funds have specific risks related to investing in foreign securities, emerging markets, and geopolitical events. Russia's actions have adversely affected the Central and Eastern Europe Fund. Closed-end funds trade at a discount to net asset value and are not continuously offered.

Positive

• None.

Negative

• Russia's invasion of Ukraine has materially adversely affected the value and liquidity of the Central and Eastern Europe Fund's portfolio.
• Closed-end funds like The Central and Eastern Europe Fund, Inc. are not continuously offered and trade at a discount to net asset value.

NEW YORK--(BUSINESS WIRE)-- The Central and Eastern Europe Fund, Inc. (NYSE: CEE) and The New Germany Fund, Inc. (NYSE: GF) (each, a “Fund,” and, collectively, the “Funds”) announced today that the Annual Meeting of Stockholders for each Fund will be held at 10:00 a.m., Eastern time on June 27, 2024 at the offices of DWS Investment Management Americas, Inc., 875 Third Avenue, New York, New York 10022. Holders of shares of common stock of record of the Funds at the close of business on May 2, 2024 are entitled to vote at the meeting and any postponements or adjournments thereof. At the meeting, stockholders of each Fund will consider the election of Directors and approval of auditors.

Important Information

The Central and Eastern Europe Fund, Inc. is non-diversified and can take larger positions in fewer issues, increasing its potential risk. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Any fund that focuses in a particular segment of the market or region of the world will generally be more volatile than a fund that invests more broadly. This fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk.

The New Germany Fund, Inc. is diversified and primarily focuses its investments in Germany, thereby increasing its vulnerability to developments in that country.

Investing in foreign securities, particularly of emerging markets, presents certain risks, such as currency fluctuations, and risks of currency and capital controls, political and economic changes, and market risks. Any fund that concentrates in a particular segment of the market or a particular geographical region will generally be more volatile than a fund that invests more broadly.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in US and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the funds and their investments.

The European Union, the United States and other countries have imposed sanctions on Russia in response to Russian military and other actions in recent years. These sanctions have adversely affected Russian individuals, issuers and the Russian economy. Russia, in turn, has imposed sanctions targeting Western individuals, businesses and products. The various sanctions have adversely affected, and may continue to adversely affect, not only the Russian economy, but also the economies of many countries in Europe, including countries in Central and Eastern Europe. In the case of the Central and Eastern Europe Fund, Inc., Russia’s invasion of Ukraine has materially adversely affected, and may continue to materially adversely affect, the value and liquidity of the Fund’s portfolio.

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Certain statements contained in this release may be forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like “expect,” “anticipate,” “believe,” “intend,” and similar expressions. Such statements represent management’s current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the effects of adverse changes in market and economic conditions; (ii) legal and regulatory developments; and (iii) other additional risks and uncertainties, including public health crises, war, terrorism, trade disputes and related geopolitical events.

Past performance is no guarantee of future results.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

DWS Distributors, Inc.
222 South Riverside Plaza
Chicago, IL 60606-5808
www.dws.com
Tel (800) 621-1148
© 2024 DWS Group GmbH & Co. KGaA. All rights reserved.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services. (R-100627) (04/24)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240419348928/en/

For additional information:

DWS Press Office (212) 454-4500

Shareholder Account Information (800) 294-4366

DWS Closed-End Funds (800) 349-4281

Source: DWS

FAQ

When will The Central and Eastern Europe Fund, Inc. and The New Germany Fund, Inc. hold their Annual Meetings of Stockholders?

The Annual Meetings of Stockholders for each Fund will be held at 10:00 a.m., Eastern time on June 27, 2024.

What will shareholders consider at the Annual Meetings?

Shareholders will consider the election of Directors and approval of auditors at the Annual Meetings.

What risks are associated with investing in foreign securities?

Investing in foreign securities presents risks such as currency fluctuations, political and economic changes, and market risks.

How have Russia's actions affected the Central and Eastern Europe Fund?

Russia's invasion of Ukraine has materially adversely affected the value and liquidity of the Central and Eastern Europe Fund's portfolio.

Why do closed-end funds often trade at a discount to net asset value?

Closed-end funds frequently trade at a discount to net asset value due to factors beyond the fund's control.