Update On Our Japan Funds

Article Excerpt

JAPAN EQUITY FUND $8.61 (New York symbol JEQ; CWA Rating: Aggressive) invests mostly in large capitalization stocks on the Tokyo Stock Exchange. The Japan Equity Fund’s top holdings are: Toyota Motor, Mitsubishi UFJ Financial Group, Mizuho Financial Group, Matsushita Electric Industrial, Nomura Holdings, East Japan Railway, Canon, Takeda Pharmaceutical, NTT and Honda Motor. Japan Equity Fund is available for 2% less than the current value of its assets. It’s a buy. JAPAN SMALLER CAP FUND $13.68 (New York symbol JOF; CWA Rating: Aggressive) invests mainly in less-widely-followed Japanese over-the-counter stocks. The fund’s top holdings are Jaccs Co., Ltd., Bosch Corp., Nichias Corporation, Doutor Coffee, Shizuoka Gas Co., Dowa Mining, Mani Inc., Hamamatsu Photonics, Nihon Unisys, and Yamatake Corp. Japan Smaller Cap Fund sells for an 18% premium above the current value of its assets. Our long-standing advice is that you only buy closed-end funds trading at close to or below net asset value. Japan Smaller Cap is a hold. hold…