NEW YORK–(BUSINESS WIRE)–April 22, 2022–
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) (the “Fund”) announced today that at the annual meeting of shareholders of the Fund to be held on June 23, 2022, shareholders of the Fund will consider, in addition to the election of directors and the approval of auditors as previously announced, a proposal to eliminate the Fund’s current policy that it will concentrate its investments in the energy sector. If the proposed amendment to the Fund’s concentration policy is approved, the Fund will not invest 25% or more of its total assets in the securities of issuers in the same industry. The Fund also announced that its Board of Directors has approved a change in the Fund’s benchmark, effective on or about July 1, 2022, from the MSCI Emerging Markets Eastern Europe Index to a custom blend of the the MSCI Germany Index, weighting of 24%, the MSCI Austria Index, weighting of 4%, the MSCI Switzerland Index, weighting of 12%, and the MSCI Emerging Markets Eastern Europe Index, weighting of 60%, the change benchmark is subject to shareholder approval at the annual meeting of shareholders of the proposal to amend the Fund’s concentration policy.
For more information about the funds, including their most recent month-end performance, visit dwsfunds.com or call (800) 349-4281.
Closed-end funds, unlike open-ended funds, are not offered continuously. There is a one-time public offering and once issued, shares of closed-end funds are sold on the open market through an exchange. Shares of closed-end funds often trade at a discount to net asset value. The price of shares in the fund is determined by a number of factors, many 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 Fund is not diversified and may take larger positions in fewer issues, which increases its potential risk, and also concentrates its investments in the energy sector. 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 markets in more mature economies, and generally have less diversified and less mature economic structures and less stable political systems than those in developed countries. Any fund that focuses on a particular market segment or region of the world will generally be more volatile than a fund that invests more broadly.
Shares of most closed-end funds, including the Fund, are not offered continuously. Once issued, closed-end fund shares are bought and sold on the open market through an exchange. Shares of closed-end funds often trade at a discount to net asset value. The price of a fund’s shares is determined by a number of factors, many of which are beyond the fund’s control. Therefore, a fund cannot predict whether its shares will trade at, below, or above net asset value.
War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises, and related geopolitical events have caused, and in the future may cause, significant disruptions to U.S. and global economies and markets , which may lead to increased market volatility and may have material adverse effects on the fund and its investments.
This press release does not constitute an offer to sell or a solicitation to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration. or qualification under the laws of such state or jurisdiction.
Certain statements contained in this press release may be forward-looking. These include all statements relating to plans, expectations and other statements that are not historical facts and generally use words such as “expect”, “anticipate”, “believe”, “intend and similar expressions. These statements represent the current beliefs of management, based on information available at the time the statements are made, with respect to the matters discussed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Management undertakes no 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 the 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 not indicative of future results.
NOT INSURED BY FDIC/NCUA • MAY LOSE VALUE • NO BANK GUARANTEE
Distributors DWS, Inc.
The DWS brand 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 LLC which offer advisory services . ( R-089478-1) (22/04)
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220422005376/en/
CONTACT: For more information:
DWS Press Office (212) 454-4500
Shareholder Account Information (800) 294-4366
DWS Closed-End Funds (800) 349-4281
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
SECTOR KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Central and Eastern Europe Fund, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 04/22/2022 17:00 / DISK: 04/22/2022 17:02