JAPAN SMALLER CAP FUND $6.41 (New York symbol JOF; CWA Rating: Aggressive) invests mainly in less-widely-followed Japanese over-the-counter stocks. The fund’s top holdings are Jupiter Telecom, Rohto Pharmaceutical Co., Moshi Moshi Hotline, Inc., Seven Bank, Ltd., Kuraray Co., Ltd. and Air Water Inc. Japan Smaller Cap Fund sells for a 12% discount to the current value of its assets. Japan Smaller Cap is a buy.