Review of my retirement portfolio FJSCX
Fidelity Japan Small Co (FJSCX)In the Japan Stock category, initially I had Fidelity Japan, last year I sold Fidelity Japan and bought this fund. Expense Ratio has come down. Same Manager. Morning Star rating has come down to 4 stars. Their Sharpe and Treynor ratios for 3 and 5 yr returns aren't impressive. Approximately I gained 5% per year on an average which isn't enough for the risk taken.
I am going to hold on to this fund as I think that Japanese economy is strong and will grow. Their wages are increasing, corporate profits are going up, use of raw materials has also increased, though retail sales has to pick up. But given their steady growth in exports to US, it shouldn't be a problem. I will revisit this fund again in 6 months.
As per Fund alarm, its performances were lower than the average of its peers for the returns of past 12 months and 3 yrs (bench mark - schwab intl index). As per Morning Star they are higher (bench mark - Japan Category). Though its performance went down, I don't think there was a big difference when compared with its peer group. Its risk is less. Another think to hold on to the fund is to see if it is getting stabilized as it is closed now. But it could turn otherwise too, have to watch out.
Closed to new investors
Japan Stock Category
Exp ratio 1.02
Annual Turnover 65%
3 Year Modern Portfolio Theory Statistics
Alpha (against Standard Index) -4.66
Beta (against Standard Index) 0.87
Mean Annual Return 11.38
R-squared (against Standard Index) 15
Standard Deviation 22.17
Sharpe Ratio 0.46
Treynor Ratio -11.57
Asset Allocation %
Cash 0.65
U.S. Stocks 0.14
Foreign Stocks 99.21
Bonds 0.00
Other 0.0
Source: Yahoo Finance, Morning Star, Fund Alarm
Labels: FJSCX
posted by Valli @ 9:37 AM
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