Word: fundã
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...preliminary proxy statement filed on May 25 with the Securities and Exchange Commission (SEC), Harvard asked the shareholders of Korea Equity Fund, Inc., to reject the fund??s nominees to its board of directors and vote to terminate the fund??s agreement with its investment manager, Nomura Asset Management U.S.A...
Along with asking investors to demand that the fund??s management agreement with Nomura be revoked, Harvard is seeking their support for its proposal that the fund be liquidated by its board of directors and the value of its assets returned to shareholders...
...believe that the only real beneficiaries of the Fund??s continued existence are Nomura and the Fund??s Board,” the filing says...
...statement, Harvard argues that more open Korean markets provide today’s investor with more opportunities—such as American Depositary Receipts—for investment in equities there. Harvard also says the fund??s small size and expenses make it “no longer a viable vehicle for long-term investors...
...statement asks shareholders to vote against reelection of the board’s two nominees for directors—Yasushi Suzuki and Chor Weng Tan. And Harvard also opposes the ratification of the appointment of the fund??s independent accountants, Ernst & Young, so that “shareholders will send a message to the Board that they do not accept the Board’s ‘business as usual’ approach, but will only accept substantial change in the management of the fund...