Ireland & India {An Update}

Earlier this year I posted some positive comments on Ireland (March 15-17, 2006) and was cautious on India (see March 3, 2006 and May 22, 2006). The proxy I use for Ireland is the New Ireland Fund {IRL}. It has gained 13% since March. The proxy I use for India is the India Fund {IFN}. IFN has lost 24% of its value since we first wrote about it and it is 33% off of its May highs. India was widely over-hyped as an investment early in the year and nobody talked about Ireland. Enough said.

*Lumen Capital Management has no positions in the New Ireland Fund. One client owns shares in the India Fund.