1. Hansjoerg Pack will be the new portfolio manager starting July 2025. 2. Juan Barriobero will transition to deputy portfolio manager position. 3. Pack has extensive experience in managing European and German equity funds. 4. EEA is vulnerable to European market fluctuations and geopolitical risks. 5. The fund may experience volatility due to its concentrated investment strategy.
Transition of managers can stabilize or destabilize funds; historical shifts suggest mixed impacts.
Leadership change impacts fund performance; however, current market dynamics minimize immediate effects.
New management strategies may take time to unveil effects, as seen with previous transitions.
NEW YORK--(BUSINESS WIRE)--The European Equity Fund, Inc. (NYSE: EEA) (the “Fund”) announced today that Hansjoerg Pack will replace Juan Barriobero as the Fund’s portfolio manager effective July 1, 2025. Effective July 1, 2025, Mr. Barriobero, who has served as the Fund’s portfolio manager since 2020, will replace Frank Kuemmet as the Fund’s deputy portfolio manager.
Mr. Pack joined DWS in 1997 and has extensive portfolio management experience, including multiple global equity strategies with significant exposure to European markets. He also has experience in managing funds with significant allocations to German small and mid-cap equity securities, including DWS Aktien Strategie Deutschland (with current net assets of over EUR 2 billion) from 2016 to the present. Mr. Pack received a BA in Business Administration from Sheffield Hallam University; a Master's Degree in Economics ("Diplom-Volkswirt") from University of Duisburg-Essen; and is a CEFA - Certified European Financial Analyst.
Important Information
The European Equity Fund, Inc. is diversified and primarily focuses its investments in equity securities of issuers domiciled in Europe, thereby increasing its vulnerability to developments in that region.
Investing in foreign securities, particularly of emerging markets, presents certain risks, such as currency fluctuations, and risks of currency and capital controls, political and economic changes, and market risks. Any fund that concentrates in a particular segment of the market or a particular geographical region will generally be more volatile than a fund that invests more broadly.
The shares of most closed-end funds, including the Fund, are not continuously offered. Once issued, shares of closed-end funds are bought and 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 a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will trade at, below, or above net asset value.
War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in US and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the funds and their investments.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Past performance is no guarantee of future results.
NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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