The New Germany Fund, Inc. Reports Strong First Quarter 2006 Performance; Announces Annual Stockholders Meeting
April 11 2006 - 5:13PM
Business Wire
The New Germany Fund, Inc. (NYSE: GF) today announced continued
strong performance for the first quarter of 2006, with an NAV
return of 26.26% and market price return of 27.38% as of March 31,
2006 (in each case, not annualized). The Fund again outperformed
its benchmark, the Midcap Market Performance Index, which returned
22.13 % for the same period. Standardized performance returns can
be found in the chart below. Separately, the Fund announced today
that its annual meeting of stockholders will be held at 11:00 am
(New York time) on June 20, 2006 at the offices of Deutsche Bank
AG, 345 Park Avenue, New York, New York 10154. Only holders of
record of the Fund's Common Stock at the close of business on April
21, 2006 will be entitled to notice of, and to vote at, the annual
meeting of stockholders of the Fund. The Fund is managed and
advised by members of the Deutsche Bank Group. The New Germany
Fund, Inc. is a non-diversified; closed-end investment company
seeking capital appreciation primarily through investment in middle
market German equities. The Fund may invest up to 35% of its assets
in large cap German companies, and up to 20% in other Western
European companies (with no more than 10% in any single country).
Its shares are listed on the New York Stock Exchange under the
symbol "GF". -0- *T
----------------------------------------------------------------------
3 Year 5 Year 5 Year Avg. Avg. Avg. YTD 1 Year Annual Annual Annual
Returns as of March 31, 2006 Return Return Return Return Return
(%)* (%) (%) (%) (%)
----------------------------------------------------------------------
The New Germany Fund, Inc. (Net Asset Return) 26.26 39.80 50.23
12.00 7.62
----------------------------------------------------------------------
The New Germany Fund, Inc. (Market Price Return) 27.38 50.02 58.92
14.43 9.49
----------------------------------------------------------------------
* Total returns shown for the three month period are not
annualized. *T Past Performance is no guarantee of future results.
Performance is historical, assumes reinvestment of all dividend and
capital gain distributions, and does not guarantee future results.
Investment returns and principal value fluctuate with changing
market conditions so that, when sold, shares may be worth more or
less than their original cost. Current performance may be lower or
higher than the performance data quoted. Please visit
www.newgermanyfund.com for the Fund's most recent performance.
Total return based on market price reflects changes in market
value. Total return based on net asset value reflects changes in
the fund's net asset value during each period. Each figure assumes
that dividends and capital gains, if any, were reinvested. These
figures will differ depending on the level of any discount from or
premium to NAV at which the fund's shares traded during the period.
Returns less than one-year are cumulative. This Fund is not
diversified and primarily focuses its investments in Germany,
thereby increasing its vulnerability to developments in that
country. Investing in foreign securities presents certain unique
risks not associated with domestic investments, such as currency
fluctuation and political and economic changes and market risks.
This may result in greater share price volatility. 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 Midcap Market Performance
Index is a total return index that is composed of various MDAX and
TecDax issues, reflecting the performance of the mid-caps across
all sectors of the Prime Segment. Index returns assume reinvestment
of any and all distributions and, unlike fund returns, do not
reflect fees or expenses. It is not possible to invest directly in
an index. MDAX is a total rate of return index of 50 mid-cap issues
that rank below the DAX. DAX is the total rate of return index of
30 selected German blue chips stocks traded on the Frankfurt stock
exchange. TecDax is a total return index that tracks the 30 largest
and most liquid issues from the various technology sectors of the
Prime Segment beneath the DAX. Fund specific data and performance
are provided for informational purposes only and are not intended
for trading purposes. This announcement is not an offer to purchase
or the solicitation of an offer to sell shares of the Fund or a
prospectus, circular or representation intended for use in the
purchase or sale of Fund shares. (4/06 44185) -0- *T NOT FDIC/NCUA
INSURED MAY LOSE VALUE NO BANK GUARANTEE NOT A DEPOSIT NOT INSURED
BY ANY FEDERAL GOVERNMENT AGENCY *T
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