The New Germany Fund, Inc. Announces Portfolio Manager Change

Rhea-AI Summary

The New Germany Fund, Inc. (NYSE: GF) has appointed Leon Cappel as the new deputy portfolio manager, effective June 1, 2022, succeeding Philipp Schweneke. Valerie Schuler remains the Fund's portfolio manager. Cappel joined DWS's German equity team in 2019 and holds a BSc and MSc in Business Chemistry from Heinrich Heine University Duesseldorf. The Fund primarily invests in European equity securities, facing potential risks from currency fluctuations and geopolitical events, which may impact market volatility.

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• None.

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• Investment in foreign securities carries risks including currency fluctuations and political instability.
• The Fund is vulnerable to geopolitical events which may lead to increased volatility and market disruptions.

NEW YORK--(BUSINESS WIRE)-- The New Germany Fund, Inc. (NYSE: GF) (the “Fund”) announced today that Leon Cappel will replace Philipp Schweneke as the Fund’s deputy portfolio manager effective June 1, 2022. Valerie Schuler will continue to serve as the Fund’s portfolio manager.

Mr. Cappel joined the German equity team at DWS in 2019. He received a BSc and MSc in Business Chemistry from Heinrich Heine University Duesseldorf.

For more information on the Fund, including the most recent month-end performance, visit www.dwsfunds.com or call (800) 349-4281.

Important Information

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.

The New Germany Fund, Inc. is diversified and primarily focuses its investments in equity securities of issuers domiciled in Europe, thereby increasing its vulnerability to developments in that regions. Investing in foreign securities, particularly of emerging markets, presents certain risks, such as currency fluctuations, 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.

Investing in foreign securities 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 country, geographic area or segment of the market will generally be more volatile than a fund that invests more broadly.

The shares of most closed-end funds, including the Fund, are not continuously offered. Once issued, shares of closed-end funds are bought and 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 a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will trade at, below, or above net asset value.

War (including Russia’s recent invasion of Ukraine), US and other sanctions, terrorism, economic uncertainty, trade disputes, trading halts, currency and capital controls, public health crises (including the recent pandemic spread of the novel coronavirus) and related geopolitical events could lead to increased market volatility, disruption to US and world economies and markets and may have significant adverse effects on the Fund and its investments, including making investments illiquid and/or difficult to 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 (including the recent pandemic spread of the novel coronavirus), 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

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-090197-1) (05/22)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220526005496/en/

DWS Press Office (212) 454-4500

Shareholder Account Information (800) 294-4366

DWS Closed-End Funds (800) 349-4281

Source: The New Germany Fund, Inc.

FAQ

What changes were announced for The New Germany Fund (NYSE: GF) portfolio management?

Leon Cappel will be the new deputy portfolio manager for The New Germany Fund, effective June 1, 2022.

Who is the current portfolio manager of The New Germany Fund (NYSE: GF)?

Valerie Schuler continues to serve as the portfolio manager of The New Germany Fund.

What are the risks associated with investing in The New Germany Fund (NYSE: GF)?

Investing in The New Germany Fund may involve risks like currency fluctuations and market volatility due to geopolitical events.

When did Leon Cappel join The New Germany Fund (NYSE: GF)?

Leon Cappel joined the German equity team at DWS in 2019.