AboutWarren Boroson Expertise Author of "Keys to Investing in Mutual Funds" (Barrons), "Ultimate Mutual Fund Guide" (Probus), "How to Pick Stocks Like Warren Buffett" (JKLasser), and "The Reverse Mortgage Advantage" (McGraw-Hill). Former financial columnist for Gannett News Service.
Experience Author of 20 books; winner of 1996 Personal Finance award from Investment Company Institute and Washington University. Formerly on staffs of Money and Sylvia Porter's Magazine. Had a radio program (on WEVD) about mutual funds and a newsletter, FundDigest.
Question Are you aware of any USA-listed mutual fund or REIT that invests
heavily or exclusively on Japanese and/or Chinese real estates?
Answer Dear Huang:
Alpine International Real Estate has been around quite a while, but it's a load fund, it gets only 3 stars from Morningstar, and it can invest 20% in non-foreign real estate.
A better choice is Fidelity International Real Estate, which, although new and unrated, has done quite well--and it's no-load.
The fund focuses on European, Asian, and Australian securities, Morningstar reports. As you know, some countries are just beginning to allow REIT investing, such as the United Kingdom.
The fund has analysts in London, Hong Kong, Tokyo, and Sydney.
The five top holdings recently were Mitsui Fudosan, Land Securities (based in London), Mitsubishi Estate, Westfield Grp (Australian), British Land, Nippon Building Fund, Macquarie Goodman Grp (Asia), Sun Hung Kai Properties, Rodamco Europe Inc, and CFS Gandel Retail (Australia).
M* does not break down the holdings into country of origin.
Of this fund, M* writes: "...while we think this fund has lots of long-term potential, it should be approached carefully."
