Premium is still in the high 20's. I am long CEE which is selling at a 10% discount. TRF may have performed better over the last 5-10 years than CEE, but I believe that is as much about TRF's greater exposure to Russia (compared to CEE -- TRF is about 80% in Russia versus CEE's 55%) as it is to better fund management. TRF is re-balancing its holding with a higher percentage in Russian equities, though. I also like Turkey, so I am not at all concerned about a 10% weighting in Turkey, too (Turkish stocks are cheap). I own a Turkish ETF, also.