Major fund companies are not likely to embrace Cuba as the antidote to the outflow of assets from their equity funds, but one Miami-based company hopes to be the first into a market it believes is destined to take off.

Thomas J. Herzfeld Advisors, Inc., has filed with the Securities and Exchange Commission to offer The Cuba Fund, a closed-end fund that would invest in "Cuban-related securities," including the stocks of firms now permitted to do business in the country, according to the company's SEC filing.

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