Scudder New Asia Fund To Open-end (CEF: SAF)

| About: Scudder New (SAF)

The Scudder New Asia Fund (CEF: SAF) announced that shareholders have finally approved merging the fund into a Scudder open end fund. The merger proposal, as well as the proposal that allowed the merger to be approved by getting the votes of only a majority of the fund's outstanding shares, were both approved by about 55%-57% of the outstanding shares.

Almost 37% of the outstanding shares still were not voted, but even if many of the fund's shareholders do not seem to be too concerned, it is good for them that this merger saga is finally coming to a close.