UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
_______________________________
Investment Company Act file number 811-5983
The New Germany Fund, Inc.
(Exact name of registrant as specified in charter)
345 Park Avenue
New York, NY 10154
(Address of principal executive offices) (Zip code)
Paul Schubert
345 Park Avenue
New York, NY 10154
(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 454-7190
Date of fiscal year end: 12/31
Date of reporting period: 09/30/07
ITEM 1. SCHEDULE OF INVESTMENTS
THE NEW GERMANY FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2007
|
Shares |
|
Description |
|
Value(a) |
|
INVESTMENTS IN GERMAN SECURITIES - 92.8% |
|
| ||
|
|
|
COMMON STOCKS - 83.2% |
|
|
|
|
|
AEROSPACE & DEFENSE - 1.7% |
|
|
|
135,000 |
|
MTU Aero Engines Holding |
|
$8,196,543 |
|
|
|
AGRICULTURAL PRODUCT - 0.2% |
|
|
|
5,000 |
|
KWS SaaT |
|
963,337 |
|
|
|
AUTO PARTS & EQUIPMENT - 1.3% |
|
|
|
55,000 |
|
Elringklinger |
|
6,217,258 |
|
|
|
BUILDING PRODUCTS - 2.2% |
|
|
|
160,000 |
|
Kloeckner & Co.† |
|
11,027,119 |
|
|
|
CHEMICALS - 14.1% |
|
|
|
505,000 |
|
GEA Group* |
|
17,714,528 |
|
135,200 |
|
K I S |
|
24,714,488 |
|
220,000 |
|
Lanxess |
|
10,410,583 |
|
70,000 |
|
Wacker Chemic† |
|
16,336,351 |
|
|
|
|
|
69,175,950 |
|
|
|
CONSTRUCTION & ENGINEERING - 2.8% |
|
|
|
177,200 |
|
Bilfinger Berger |
|
13,809,965 |
|
|
|
CONSTRUCTION MATERIALS - 2.6% |
|
|
|
62,000 |
|
Bauer |
|
4,046,443 |
|
70,000 |
|
Hochtief |
|
8,467,272 |
|
|
|
|
|
12,513,715 |
|
|
|
CONTAINERS & PACKAGING - 0.7% |
|
|
|
370,000 |
|
Max Automation |
|
3,314,449 |
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 2 0% |
|
|
|
150,000 |
|
AWD Holding |
|
4,997,268 |
|
55,000 |
|
MPC Muenchmeyer Peterson Capital |
|
4,686,014 |
|
|
|
|
|
9,683,282 |
|
|
|
DIVERSIFIED TELECOMMUNICATION SERVICES - 1.6% |
|
|
|
205,000 |
|
Freenet |
|
5,582,024 |
|
400,000 |
|
QSC*† |
|
2,115,787 |
|
|
|
|
|
7,697,811 |
|
|
|
ELECTRICAL EQUIPMENT - 12.0% |
|
|
|
145,000 |
|
Nordex*† |
|
$7,133,672 |
|
130,000 |
|
Q-Cells*† |
|
13,253,530 |
|
360,000 |
|
SGL Carbon* |
|
20,577,737 |
|
264,000 |
|
Solarworld† |
|
15,154,155 |
|
98,950 |
|
Steico* |
|
2,621,185 |
|
|
|
|
|
58,740,279 |
|
|
|
ELECTRONIC EQUIPMENT & INSTRUMENTS - 3.4% |
|
|
|
242,720 |
|
Kontron |
|
5,411,538 |
|
371,600 |
|
Suess MicroTec* |
|
3,946,984 |
|
90,000 |
|
Wincor Nixdorf |
|
7,422,318 |
|
|
|
|
|
16,780,840 |
|
|
|
HEALTHCARE PROVIDERS & SERVICES - 1.5% |
|
|
|
232,000 |
|
Rhoen Klinikum† |
|
7,405,824 |
|
|
|
HOUSEHOLD PRODUCTS - 1.5% |
|
|
|
99,483 |
|
Beiersdorf |
|
7,429,210 |
|
|
|
INDUSTRIAL CONGLOMERATES - 0.4% |
|
|
|
57,220 |
|
Tognum* |
|
1,789,945 |
|
|
|
INSURANCE - 1.0% |
|
|
|
100,000 |
|
Hannover Ruckversicherungs |
|
5,059,120 |
|
|
|
INTERNET SOFTWARE & SERVICES - 2.8% |
|
|
|
620,000 |
|
United Internet† |
|
13,920,117 |
|
|
|
LIFE INSURANCE - 1.3% |
|
|
|
42,000 |
|
AMB Generali Holding |
|
6,549,470 |
|
|
|
MACHINERY - 10.9% |
|
|
|
155,000 |
|
Heidelberger Druckmaschinen |
|
6,761,703 |
|
114,000 |
|
Krones† |
|
9,194,119 |
|
65,234 |
|
Pfeiffer Vacuum Technology† |
|
5,903,006 |
|
151,709 |
|
Rheinmetall |
|
12,017,484 |
|
100,000 |
|
Salzgitter |
|
19,585,251 |
|
|
|
|
|
53,461,563 |
|
|
|
MULTILINE RETAIL - 1.7% |
|
|
|
134,625 |
|
Douglas Holdings |
|
8,386,254 |
|
|
|
PHARMACEUTICALS - 4.5% |
|
|
|
171,000 |
|
Celesio |
|
10,761,593 |
|
35,000 |
|
Gerresheimer* |
|
1,891,127 |
|
145,000 |
|
Stada Arzneimittel† |
|
9,428,406 |
|
|
|
|
|
22,081,126 |
|
|
|
REAL ESTATE - 5.1% |
|
|
|
120,000 |
|
Deutsche Euroshop† |
|
$4,419,265 |
|
36,000 |
|
Interhyp† |
|
2,712,985 |
|
420,000 |
|
IVG Immobilien |
|
15,610,756 |
|
400,000 |
|
RCM Beteiligungs* |
|
2,127,162 |
|
|
|
|
|
24,870,168 |
|
|
|
SOFTWARE - 3.2% |
|
|
|
165,000 |
|
Software |
|
15,446,953 |
|
|
|
SPECIALITY RETAIL - 2.0% |
|
|
|
139,000 |
|
Hugo Boss Ag - Ord |
|
9,682,584 |
|
|
|
TEXTILE, APPAREL & LUXURY GOODS - 2.7% |
|
|
|
30,500 |
|
Puma† |
|
13,069,365 |
|
|
|
Total Common Stocks |
|
|
|
|
|
(cost $231,602,187) |
|
407,272,247 |
|
|
|
PREFERRED STOCK - 9.6% |
|
|
|
|
|
AUTOMOBILES - 1.1% |
|
|
|
2,400 |
|
Porsche |
|
5,083,793 |
|
|
|
ELECTRICAL EQUIPMENT - 1.7% |
|
|
|
161,389 |
|
Sartorius |
|
8,490,724 |
|
|
|
HEALTHCARE PROVIDERS & SERVICES - 4.7% |
|
|
|
296,062 |
|
Fresenius† |
|
22,972,363 |
|
|
|
MEDIA - 2.1% |
|
|
|
333,400 |
|
Prosieben Sat. 1 Media† |
|
10,448,315 |
|
|
|
Total Preferred Stock |
|
|
|
|
|
(cost $21,695,543) |
|
46,995,195 |
|
|
|
Total Investments in German Securities |
|
|
|
|
|
(cost $253,297,730) |
|
454,267,442 |
|
|
|
| ||
|
INVESTMENTS IN DUTCH COMMON STOCKS - 4.1% |
|
| ||
|
|
|
AEROSPACE & DEFENSE - 4.1% |
|
|
|
425,000 |
|
EADS† |
|
13,028,870 |
|
360,000 |
|
Qiagen*† |
|
6,930,909 |
|
|
|
|
|
19,959,779 |
|
|
|
Total Investments in Dutch Common Stocks |
|
|
|
|
|
(cost $10,218,260) |
|
19,959,779 |
|
INVESTMENTS IN IRISH COMMON STOCKS - 2.0% |
|
| ||
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 2.0% |
|
|
|
480,000 |
|
Depfa Bank† |
|
|
|
|
|
(cost $2,270,467) |
|
$9,910,074 |
|
INVESTMENTS IN FRENCH COMMON STOCKS - 0.3% |
|
| ||
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 0.3% |
|
|
|
40,000 |
|
Business & Decision* |
|
|
|
|
|
(cost $1,022,425) |
|
1,410,525 |
|
|
|
Total Investments in Common & Preferred Stocks - 99.2% |
|
|
|
|
|
(cost $266,808,882) |
|
485,547,820 |
|
SECURITIES LENDING COLLATERAL - 13.4% |
|
| ||
|
65,363,282 |
|
Daily Assets Fund Institutional, 5.38%(b)(c) |
|
|
|
|
|
(cost $65,363,282) |
|
65,363,282 |
|
|
|
Total Investments - 112.6% |
|
|
|
|
|
(cost $332,172,164) |
|
550,911,102 |
|
|
|
Other Assets and Liabilities, |
|
|
|
|
|
Net - (12.6%) |
|
(61,555,538) |
|
|
|
NET ASSETS-100.0% |
|
$489,355,564 |
* Non-income producing securities.
† All or a portion of these securities were on loan. The value of all securities loaned at September 30, 2007 amounted to $62,141,389 which is 12.7% of the net assets.
(a) Values stated in US dollars
(b) Affiliated fund managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end.
(c) Represents collateral held in connection with securities lending.
|
ITEM 2. |
CONTROLS AND PROCEDURES |
|
|
|
|
|
(a) The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. |
|
|
|
|
|
(b) There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last half-year (the registrant’s second fiscal half-year in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting. |
|
|
|
|
ITEM 3. |
EXHIBITS |
|
|
|
|
|
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Registrant: |
The New Germany Fund, Inc. |
|
By: |
/s/Michael G. Clark |
|
|
Michael G. Clark |
President
|
Date: |
November 16, 2007 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
Registrant: |
The New Germany Fund, Inc. |
|
By: |
/s/Michael G. Clark |
|
|
Michael G. Clark |
President
|
Date: |
November 16, 2007 |
|
By: |
/s/Paul Schubert |
|
|
Paul Schubert |
Chief Financial Officer and Treasurer
Date: November 16, 2007