English and Dutch Investment Those investors who prefer American equities
to British for earnings growth and capital appre- ciation but are deterred by the size of the in- vestment dollar premium (at the moment down to 171 per cent), might consider ENGLISH AND DUTCH INVESTMENT TRUST, whose 100-florin ordinary shares have been deposited with the Royal Ex- change Assurance, which has issued 200,000 par- ticipation certificates of no par value against them. The certificates are at present quoted at 207s. free of the dollar premium. The portfolio is invested 39 per cent in North America, 36 per cent in Dutch shares, 7 per cent in South Africa, 34 per cent in Germany and 3.6 per cent in the UK, the rest of Europe making up the balance. The bearer certificates yield 3.1 per cent on the basis of fl.3.25 per certificate. They stand at a discount of 19 per cent on the net asset value. The only trouble seems to be that the shares are a very narrow market.
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