VOL. XXXIX

No. 22

26-February-1996

CAPITAL MARKETS

Foreign And Colonial Fund Net Asset Value Shrinks

The Foreign and Colonial Emerging Middle East Fund, launched in November 1994 and investing primarily in Middle Eastern equities, has seen its net asset value shrink by 3.5% in 1995 and by 7.76% since inception. At 31 December 1995, net asset value was $12.95 and the share price, quoted on the New York Stock Exchange, was $10.625 - down on its launch price of $15.00. The manager of the...