Question: 1 8 . In 1 9 9 6 , a group of securities called the World Equity Benchmark Shares ( WEBS ) Marted trading on

18 .

1996,

a group of securities called the World Equity Benchmark Shares

(

WEBS

)

Marted trading on the American Stock Exchange. WEBS for a country is a passively man

-

aged ETF indexed on the MSCI country benchmark index for that country. All else equal, what do you think would be the effect of the launch of WEBS for a country the premium or discount of the closed

-

end country fund for that country?

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