The Central Europe, Russia and Turkey Fund, Inc. (NYSE:CEE), The European Equity Fund, Inc. (NYSE:EEA) and The New Germany Fund, Inc. (NYSE:GF)
(each, a “Fund,” and, collectively, the “Funds”) announced today that each Fund’s next measurement period will commence on Monday, April 7, 2014 and will expire on Friday, June 27, 2014. The measurement period is being set in accordance with the terms of each Fund’s previously-announced Discount Management Program (each a “Program”). The terms of each Program require a Fund to conduct a tender offer if its shares trade at an average discount to net asset value of more than 10% during the applicable twelve-week measurement period.
In addition, CEE announced today that its Board of Directors has approved a 700,000 increase to the previously announced share repurchase authorization, resulting in a total authorization of 1,400,000 shares for repurchase during the period from August 1, 2013 through July 31, 2014. For the period August 1, 2013 through December 31, 2013 CEE repurchased 516,891 shares. Repurchases will be made from time to time when they are believed to be in the best interests of the Fund.
For more information on CEE, EEA or GF, including the most recent month-end performance and presentations, visit
or call (800) 349-4281 or 00-800-2287-2750 from outside the US.
The Central Europe, Russia and Turkey Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity or equity-linked securities of issuers domiciled in Central Europe, Russia and Turkey.
Because the Fund is non-diversified, it can take larger positions in fewer issues, increasing its potential risk.
Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks.
Any fund that focuses in a particular segment of the market will generally be more volatile than a fund that invests more broadly.
The European Equity Fund, Inc. is a diversified, closed-end investment company seeking long-term capital appreciation through investment primarily (normally at least 80% of its assets) in equity or equity-linked securities of companies domiciled in European countries utilizing the Euro currency.
The New Germany Fund, Inc. is a diversified, closed-end investment company seeking capital appreciation primarily through investment in the Mittelstand – an important group of small and mid-cap German companies.
The Fund may invest up to 35% of its assets in large-cap German companies and up to 20% in other Western European companies
The shares of most closed-end funds, including the Funds, 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.
There can be no assurance that the Program will be effective in reducing the Funds’ market discounts.
Investments in funds involve risk. Additional risks of the Funds are associated with international investing, such as government regulations and differences in liquidity, which may increase the volatility of your investment.
Foreign security markets generally exhibit greater price volatility and are less liquid than the US market.
Additionally, the Funds focus their investments in certain geographical regions, thereby increasing their vulnerability to developments in that region and potentially subjecting the Funds’ shares to greater price volatility.
Some funds have more risk than others.
These include funds, such as EEA, GF, and CEE, that allow exposure to or otherwise concentrate investments in certain sectors, geographic regions, security types, market capitalization, or foreign securities ( e.g., political or economic instability, which can be accentuated in emerging market countries).
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.
| NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
| NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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