Global Small Cap Fund Inc. makes announcement.NEW YORK--(BUSINESS WIRE)--April 24, 1996--Global Small Cap Fund Inc. (AMEX AMEX See: American Stock Exchange :GSG GSG Grenzschutzgruppe (German: Border Protection Unit; anti-terrorist group) GSG Global Scenario Group GSG Goldman Sachs Group, Inc. GSG Gunslinger Girl (anime) GSG Ground-Signal-Ground ) is a closed-end management company Closed-End Management Company An investment-management company that sells a limited number of shares to investors on an exchange by way of an initial public offering. For investors to sell the shares they purchased from the closed-end management company, there must be buyers seeking long-term capital appreciation by investing primarily in equity securities of small capitalization companies located throughout the world, including, but not limited to, Asia, Europe, the Far East, the Middle East, North Africa, and the Americas. Portfolio Composition (March 31, 1996) Regional Composition (As a % of net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. ) Continental Europe 42.3% Pacific Region (excluding Japan) 21.7 United States 15.8 United Kingdom 8.2 Latin America 4.4 Japan 3.9 Other 3.7 Top Five Sectors (As a % of net assets) Consumer Goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and 24.9% Services 23.8 Capital Equipment 11.2 Finance 9.6 Energy 9.4 Top Ten Holdings (As a % of net assets) ICH See Intel Hub Architecture. Caland 3.3% Transocean 3.0 Cordiant 2.7 Konecranes Interna 2.6 Autoliv AB 2.6 Giordano International 2.4 Bochler Uddeholm 2.3 Industrias Penoles 2.3 M.C. Packaging 2.3 Airtours 2.3 The sharp rise in U.S. bond yields during the first quarter had a ripple effect ripple effect Epidemiology See Signal event. across global equity markets. While weaker bond prices limited gains in the U.S., stronger performances were registered abroad in countries with the ability to lower rates. Many European markets performed well, as rates fell in France, Sweden and Switzerland. In France, the market hit a 19-month high - despite the government's halving of its official 1996 growth forecast to 1.3%. The reduction bolstered investors' confidence that rates will fall in France, while a weaker Franc may mean more profits for the exporters. In Sweden, the Central Bank cut rates for the seventh time this year, reducing yields to 7.4%. Share prices were strong as a result, climbing 2.3% in March alone. Southeast Asia experienced mixed reaction to the rise in U.S. bond yields. Stocks in Malaysia shrugged off the news, climbing 6.5% in March to an 18-month high. In contrast, Singapore fell to an 8-month low, as rising bond yields in the U.S. hurt property and bank stocks. Earnings growth has been disappointing in Singapore thus far in 1996, prompting many investors to favor the region's faster growing economies. Mexico was the star of Latin America, with share prices rising on signs that the economy has picked up. CONTACT: Linda Buckley, 201/902-5450 |
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