The Growth Fund of Spain, one of 15 closed-end funds managed by Scudder Kemper Investments, was to convert to an open-end fund last week. Shareholders had previously approved a proposal to convert the fund and to reorganize it as a new fund in the Kemper Global/International Series.

The fund is listed on the New York Stock Exchange and the Chicago Stock Exchange. The initial offering of the fund was on Feb. 14, 1990.

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