In an unusual joint proxy statement filed Oct. 11, Credit Suisse Asset Management of New York, the adviser to the closed-end Indonesia Fund and NAM-USA, the manager of the closed-end Jakarta Growth Fund, announced plans to seek shareholder approval to merge the two geographically related but separately-managed funds. NAM-U.S.A. is the U.S. subsidiary of Nomura Asset Management of Tokyo.
If the merger is approved, The Indonesia Fund would be the surviving closed-end fund and would be managed solely by Credit Suisse. It would also become the only publicly available fund in the U.S. to invest in Indonesian securities, said the proxy. Jakarta is the largest city and the capital of Indonesia.