“You mentioned again today how attractive you find Japan, China, and possibly India. But I have not seen you buy anything in these markets. (Maybe I missed it.) Are you considering buying anything in these markets? Also, may I ask for some suggestions as to what to invest in these markets? Thanks very much in adv. The web site must be frustrating for both of you, but I am sure it will be sorted out soon.”
Sure, I mention everything I do in my portfolio, for reasons of full disclosure, although it was never intended to be a model portfolio. That would not be fair or realistic for subscribers, because what I do might not be appropriate for anyone else, and it would put pressure on me which would be unhelpful for any of us. For this reason, I no longer list my top-10 personal holdings.
In reverse order, I have been investing in India, illustrated here by the India National (Nifty 50) since 2003, adding occasionally on dips. My last purchase was at least a couple of years ago, via the discount offer which I discussed in answer to an email yesterday for the heavily discounted JPMorgan Indian Investment Trust. It is shown at a discount to NAV of -15.77 by Bloomberg today. My main China position is the Atlantis China Healthcare Fund which I have mentioned on a number of occasions, including recently. It is somewhat overextended but still consistent and China’s overall market is inexpensive. I also hold the JPMorgan Chinese Investment Trust, also mentioned recently, which currently trades at a discount to NAV of 11.52% according to Bloomberg. Regarding Japan, I am somewhat embarrassed to mention it. After the Nikkei crash in 1990-1991, I opened a monthly pound cost-averaging position in Mrs Fuller’s name, hoping it would encourage her interest in the stock market. Needless to say its performance put her to sleep and I conveniently forgot about it. However, those cost averaging positions add up and now that Japan is in a bull market it is appreciating. I should probably switch the money to the Atlantis Japan Growth Investment Trust, which currently sells at a 6.39% discount to NAV.
Incidentally, the Chart Library, which still has plenty of bugs although they are being reduced on a daily basis so it is becoming useful once again, contains lots of investment vehicles for various markets. Many of these have been contributed by knowledgeable subscribers so it is a valuable resource. However, please do your own due diligence.Back to top