Standard & Poor's has published the first fully online edition of its review of funds investing in Japan, which is now available on www.funds-sp.com.

Through the service, the fund tracker ranks the funds operating in Japan. The online review covers 54 mainstream and 12 smaller companies funds. Two mainstream funds were rated AAA, along with three smaller companies funds.

The funds rated AAA were Fidelity Funds - Japan Fund (Sub-fund of UK authorized Oeic) and Scontinvest Equity Fund - Japan Equity Fund (Sub-fund of Luxembourg-domiciled FCP).

The smaller top-rated funds were:

INVESCO GT Japan Enterprise Fund (Sub-fund of Dublin IFSC domiciled umbrella unit trust)

INVESCO GT Japan OTC Stocks Fund (Sub-fund of Dublin IFSC domiciled umbrella unit trust)

INVESCO PERPETUAL Japanese Smaller Companies Fund (UK authorized unit trust)

In the mainstream sector 24 funds were rated AA and 27 A. S&P placed one fund that it does not rate under review. Of the smaller companies funds, two received AA ratings, four A and three were not rated.

Eight funds received "New" ratings based on the managers' demonstrable track record of running similarly managed funds. Overall, five funds had their ratings increased and six had them reduced.  

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