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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)*
Central Europe & Russia Fund, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
153436100
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(CUSIP Number)
March 31, 2005
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|X| Rule 13d-1(b)
|_| Rule 13d-1(c)
|_| Rule 13d-1(d)
* 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 in 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 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 153436100 13G Page 2 of 8 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CITY OF LONDON INVESTMENT GROUP PLC, a company incorporated under the laws
of England & Wales
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_].
(b) [_].
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
GREAT BRITAIN
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5. SOLE VOTING POWER
433,200
NUMBER OF -------- --------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH -------- --------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 433,200
WITH
-------- --------------------------------------
8. SHARED DISPOSITIVE POWER
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
433,200
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES / /.
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.25%
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12. TYPE OF REPORTING PERSON
HC
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Page 2 of 8
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CUSIP No. 153436100 13G Page 3 of 8 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED, a company incorporated
under the laws of England & Wales
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_].
(b) [_].
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
GREAT BRITAIN
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5. SOLE VOTING POWER
433,200
NUMBER OF -------- --------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH -------- --------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 433,200
WITH
-------- --------------------------------------
8. SHARED DISPOSITIVE POWER
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
433,200
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES / /.
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.25%
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12. TYPE OF REPORTING PERSON
IA
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Page 3 of 8
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CUSIP No. 153436100 13G Page 4 of 8 Pages
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ITEM 1(A). NAME OF ISSUER:
The Central Europe & Russia Fund, Inc.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
Deutsche Funds
The Central Europe & Russia Fund, Inc.
345 Park Avenue
New York
NY 10154
ITEM 2(A). NAME OF PERSON FILING:
This statement is being filed by the following persons with
respect to the shares of common stock of the Issuer directly owned
by The Emerging World Fund, Global Emerging Markets Country Fund,
Investable Emerging Markets Country Fund, GFM (Institutional)
Emerging Markets Country Fund, The Emerging Markets Free Country
Fund and Global Optimization Fondo de Inversion Internacional
(collectively, the "Funds") and three segregated accounts to which
CLIM provides investment advisory services (the "Accounts")
(i) City of London Investment Group PLC ("CLIG"), the parent
holding company of (a) City of London Investment Management
Company Limited ("CLIM"), which acts as an investment advisory
services to segregated accounts and various public and private
investment funds (the Funds), and
(ii) CLIM, a wholly owned subsidiary of CLIG and the investment
adviser to the Funds. The shares of common stock of the Issuer
owned by Global are not included in the statement for CLIM.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Address for CLIG and CLIM:
10 Eastcheap
London EC3M 1LX
England
ITEM 2(C). CITIZENSHIP:
CLIG - Great Britain
CLIM - Great Britain
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CUSIP No. 153436100 13G Page 5 of 8 Pages
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ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.001 per share
ITEM 2(E). CUSIP NUMBER:
153436100
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B)
OR (C), CHECK WHETHER THE PERSON FILING IS A:
(a) |_| Broker or dealer registered under Section 15 of the Act
(15 U.S.C. 78o).
(b) |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) |_| Insurance company as defined in Section 3(a)(19) of the
Act (15 U.S.C. 78c).
(d) |_| Investment company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) |X| An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E) (for CLIM);
(f) |_| An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F);
(g) |X| A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G) (for CLIG);
(h) |_| A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act (15 U.S.C. 80a-3);
(j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
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CUSIP No. 153436100 13G Page 6 of 8 Pages
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ITEM 4. OWNERSHIP.
For CLIG and CLIM:
(a) Amount beneficially owned:
433,200
(b) Percent of class:
4.25%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote : 433,200
(ii) Shared power to vote or to direct the vote : 0
(iii) Sole power to dispose or to direct the
disposition of : 433,200
(iv) Shared power to dispose or to direct the
disposition of : 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [X].
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
CLIG is the parent holding company of CLIM. See also Item 3.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
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CUSIP No. 153436100 13G Page 7 of 8 Pages
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ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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CUSIP No. 153436100 13G Page 8 of 8 Pages
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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.
The reporting persons agree that this statement is filed on behalf of each
of them.
Dated: April 11, 2005
CITY OF LONDON INVESTMENT GROUP
PLC
By: /s/ Barry M. Olliff
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Name: Barry M. Olliff
Title: Director
CITY OF LONDON INVESTMENT
MANAGEMENT COMPANY LIMITED
By: /s/ Barry M. Olliff
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Name: Barry M. Olliff
Title: Director