================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) (Amendment No. 1) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) The Brazil Fund, Inc. (Name of Issuer) Common Stock, par value $.01 per share (Title of Class of Securities) 105759104 (CUSIP Number) Barry M. Olliff c/o City of London Investment Management Company Limited 10 Eastcheap, London EC3M ILX, England +44 207 711 0771 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 31, 2005 (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box / /. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. ================================================================================ -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS City of London Investment Group PLC, a company incorporated under the laws of England and Wales. ------------ ------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_| (B) |_| ------------ ------------------------------------------------------------------- 3 SEC USE ONLY ------------ ------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO ------------ ------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) |_| ------------ ------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION England and Wales -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 984,400 ------ ------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ------ ------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 984,400 ------ ------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 0 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 984,400 ------------ ------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| ------------ ------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.06% ------------ ------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS City of London Investment Management Company Limited, a company incorporated under the laws of England and Wales. ------------ ------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_| (B) |_| ------------ ------------------------------------------------------------------- 3 SEC USE ONLY ------------ ------------------------------------------------------------------- 4 SOURCE OF FUNDS WC ------------ ------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) |_| ------------ ------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION England and Wales -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 984,400 ------ ------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 EACH ------ ------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING 984,400 PERSON ------ ------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 0 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 984,400 ------------ ------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_| ------------ ------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.06% ------------ ------------------------------------------------------------------- TYPE OF REPORTING PERSON* 14 IA -------------------------------------------------------------------------------- This Amendment No. 1 to Schedule 13D (this "Amendment No. 1") should be read in conjunction with the Schedule 13D filed with the U.S. Securities and Exchange Commission (the "SEC") on August 5, 2005 (the "Original Schedule 13D") by City of London Investment Group PLC ("City of London") and City of London Investment Management Company Limited relating to the shares of common stock, par value $0.01 per share (the "Shares"), of The Brazil Fund, Inc. (the "Fund"). This Amendment No. 1 amends Item 5 of the Original Schedule 13D. All other information in the Original Schedule 13D remains in effect. All capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Original Schedule 13D. ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER. Items 5(a) and 5(b) below are hereby amended and restated in their entirety and Item 5(c) is hereby amended as follows: (a) and (b). As of the date hereof, EWF, FOCUS, FREE, GEM, GFM, IEM, TDX, and Accounts owned directly 74,870, 25,000, 152,617, 261,256, 36,122, 210,375, 7,500, 216,660 Shares, respectively, representing approximately 0.46%, 0.15%, 0.94%, 1.61%, 0.22%, 1.30%, 0.05%, 1.33%, respectively, of the Shares outstanding (based on the most recent Share information publicly disclosed by the Fund). As of the date hereof, CLIG, through its control of CLIM, is the beneficial owner of 984,400 Shares, representing approximately 6.06% of the Shares outstanding (based on the most recent Share information publicly disclosed by the Fund). As of the date hereof, CLIM, through EWF, GEM, IEM, FREE, GFM, FOCUS and the Accounts, is the beneficial owner 984,400 Shares, representing approximately 6.06% of the Shares outstanding (based on the most recent Share information publicly disclosed by the Fund). (c). Except as described below, no transactions in the Shares were effected by the Reporting Persons, or, to their knowledge, any of the persons identified in Item 2, since the filing of the Schedule 13D. -------------------------------------------------------------------------------- FUND TRADE TRANSACTION NUMBER OF TRADE DATE PRICE SHARES PRICE -------------------------------------------------------------------------------- IEM 8/31/2005 Purchase 5,600 41.2041 IEM 8/30/2005 Purchase 3,900 40.3546 Accounts 8/29/2005 Purchase 2,100 39.8736 IEM 8/29/2005 Purchase 14,700 39.8736 GFM 8/29/2005 Purchase 1,200 39.8736 TDX 8/26/2005 Purchase 3,000 39.4242 IEM 8/26/2005 Purchase 55,000 39.4242 GEM 8/26/2005 Purchase 10,800 39.4242 Accounts 8/26/2005 Purchase 22,000 39.4242 TDX 8/25/2005 Sale 500 41.2300 EWF 8/18/2005 Purchase 5,970 40.6821 GEM 8/18/2005 Purchase 13,930 40.6821 IEM 8/15/2005 Purchase 1,200 41.8388 IEM 8/12/2005 Purchase 21,075 40.3879 FREE 8/12/2005 Purchase 5,620 40.3879 Accounts 8/12/2005 Purchase 3,653 40.3879 GEM 8/12/2005 Purchase 16,860 40.3879 EWF 8/12/2005 Purchase 8,430 40.3879 GFM 8/12/2005 Purchase 562 40.3879 Accounts 8/11/2005 Purchase 4,100 41.7412 GEM 8/9/2005 Purchase 4,200 41.7619 GEM 8/8/2005 Purchase 3,500 41.3349 -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: September 2, 2005 CITY OF LONDON INVESTMENT GROUP PLC /s/ Barry M. Olliff ------------------------------ Name: Barry M. Olliff Title: Director CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED /s/ Barry M. Olliff ------------------------------ Name: Barry M. Olliff Title: Director