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PACIFIC-EUROPEAN GROWTH FUND (PEF) BOARD OF DIRECTORS APPROVES FILING WITH SEC FOR CONVERSION FROM A CLOSED-END TO AN OPEN-END FUND

PACIFIC-EUROPEAN GROWTH FUND (PEF) BOARD OF DIRECTORS APPROVES FILING
 WITH SEC FOR CONVERSION FROM A CLOSED-END TO AN OPEN-END FUND
 MINNEAPOLIS, July 8 /PRNewswire/ -- Pacific-European Growth Fund shareholders approved the proposal submitted by its board of directors to convert from a closed-end fund to an open-end fund. The fund has been filed with the SEC for registration as an open-end fund, and although no definite time can be assured, effective date is anticipated for late July.
 As an open-end investment company, the fund will be able to continuously issue new shares upon demand. This should provide the fund with more opportunity to grow over the long term and help reduce shareholder expenses.
 The Pacific-European Growth Fund is managed by Piper Capital Management Incorporated. A full-service money management firm based in Minneapolis, Piper Capital has more than $7.5 billion under management and is an independent, wholly owned subsidiary of Piper Jaffray Companies Inc. (NYSE: PJC), an investment banking firm founded 1895.
 -0- 7/8/92
 /CONTACT: Linda Ruhland, 612-342-6280 or Linda Johnson, 612-342-6244, both of Piper Capital Management/
 (PJC) CO: Pacific-European Growth Fund; Piper Capital Management; Piper
 Jaffray Companies, Inc. ST: Minnesota IN: FIN SU:


DS -- MN003 -- 7316 07/08/92 09:48 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
Words:204
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