Fidelity JapanFJPNX

Morningstar Rating

Fund Research and Analysis

by Courtney Goethals Dobrow

Fidelity Japan has performed comparatively well but is no sure thing.

Investing in Japan has been a frustrating exercise the past two decades. The Japanese economy has been stalled since the real estate and stock market bubbles burst in the early 1990s, and serious challenges remain. Read more

Kudos

Relatively low costs in a pricey category.

Large-cap bias should provide some stability in this historically varying market. Read more

Risks

Current manager doesn't have an impressive record on his Japan funds open to non-U.S. investors. Read more

Strategy

Robert Rowland is a growth-at-a-reasonable-price investor. His stock-picking is partially guided by themes, but he will not diverge from the sector weightings of the TOPIX Index by more than 5 percentage points. Read more

Management

Tokyo-based Robert Rowland took over in April 2007. His predecessor, Yoko Ishibashi, had run the fund since June 2000. Rowland has been at Fidelity since 1995 and has managed Japan stock money since 2000. Since 2003, he has run various offshore funds--for European and Canadian investors. Read more

Inside Scoop

A new manager took over this fund in April 2007. The fund has reasonable expenses and never hedges its currency exposure. Read more

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