SWZ is a non-diversified, closed-end fund that invests in equity and equity-linked securities of Swiss companies. Here are some reasons I like SWZ- 1) Discount to NAV yesterday was 12.9%. The annual expense ratio is 1.10%. A discount/expense ratio of 10 times or more is generally attractive. 2) Solid portfolio holdings. The top four stock holdings are Nestle, Roche, Syngenta and Novartis. I have recently been adding to my health care exposure and this fund fits the bill. The top three industry breakdown is: Pharmaceuticals- 17.21% Fodd and beverages- 14.88% Biotechnology- 9.72% 3) Good long term performance. The five year NAV performance is about 17% a year. 4) Hedge for US dollar- The Fund’s equity investments are denominated in Swiss francs. The cash and short-term investments are also held in Swiss francs. The investment...
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