Two Japanese Fund Buys

Article Excerpt

Japanese stock markets remain volatile along with global markets. As well, a slowing U.S. economy would hurt Japan’s major export industries. However, overall, we think that Japan’s economy will continue to grow and push stock prices up. JAPAN EQUITY FUND $7.83 (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 include: Toyota Motor, Mitsubishi UFJ Financial Group, Mizuho Financial, Sumitomo Corp., Nomura Holdings, Mitsubishi Corp., Canon, East Japan Railway, Komatsu Ltd., and Nippon Steel. Japan Equity Fund is available for 7% less than the current value of its assets. It’s a buy. JAPAN SMALLER CAP FUND $10.89 (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, Eagle Industry Co., Nichias Corporation, Tokai Rubber, Futuba Industrial, Aeon Delight, Disco Corp., Kansai Urban Banking, Suraga Corp. and Hisamitsu Pharmaceutical. Japan Smaller Cap Fund sells for a 0.4% premium above the current…