Deep Discount Advisors of Asheville, N.C. has sent a protest letter to the SEC charging that the Global Small Cap Fund of New York is trying to prevent Deep Discount from introducing a proxy vote to elect a new slate of directors for the fund.

The Nov. 29 letter was the second that Deep Discount has recently written to Paul Roye, director of the SEC's division of investment management, addressing concerns over the behavior of a fund's board. The other letter dealt with activities regarding the board of the Austria Fund. (MFMN 11/22/99)

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