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Glad to see The Japan Fund (SJPNX), while being closed (thanks Ted) isn't on the liquidation list.
That fund has a long, storied past (summarized below). It serves to show what a truly independent board of directors can do, firing fund families rather than being held hostage by them.
Looking at the current SAI, it seems The Japan Fund now shares the same board with the other Nomura funds. So it may not have the same flexibility now.
The fund was organized in 1962 as a closed end fund and was advised by Scudder Stevens & Clark starting in 1987. At that time Scudder converted the fund to an open-end format. After a series of deals which saw Scudder first merged with Kemper Funds and then sold to Zurich Financial and eventually Germany's Deutsche Bank, the fund trustees fired Zurich Scudder as the advisor and hired Fidelity in 2002. The trustees moved the fund again in 2008, replacing Fidelity with Nomura.
Comments
Regards,
Ted
https://www.nomurapartnersfunds.com/docs/Closing-NPF.pdf
That fund has a long, storied past (summarized below). It serves to show what a truly independent board of directors can do, firing fund families rather than being held hostage by them.
Looking at the current SAI, it seems The Japan Fund now shares the same board with the other Nomura funds. So it may not have the same flexibility now.
MFWire's profile of The Japan Fund: