KKR’s Public Markets segment reported ENI of $137 million in 2Q15, an increase of $31 million compared to 2Q14. Revenues increased due to an increase in investment income in the company’s multiple strategies.
In 2Q15, KKR’s Private Markets segment generated a total income of $1 billion compared to $642 million in 1Q15. The increase was due mainly to higher investment income.
KKR reported its 2Q15 earnings on July 23, 2015, beating Wall Street analysts’ estimates. But KKR stock has fallen approximately 10% over the last month.
China is aiming for 7% GDP growth in 2015. This downwardly revised aim is primarily due to slowing global demand for Chinese exports.
The Chinese stock market meltdown is just one of the indicators of how fragile the Chinese economy is.
After the June crash in China’s stock market, regulators took drastic measures to prevent future stock market meltdowns like banning large shareholders from selling stocks.
Some of these Japan-focused funds give you exposure to companies like Toyota Motor, Sony, and Sumitomo Mitsui Financial Group.
The Matthews Japan Fund (MJFOX) was the top-performing fund among the four Japan-focused mutual funds chosen for this review. It returned 15.8% for the one-year period ended July 24, 2015.
The Nuveen Tradewinds Japan (NTJAX), has returned 12.0%—the second-best among the four funds chosen for this review.
FPJAX’s total returns for the past year ended July 24, 2015, stood at 2.5%—the lowest among the four funds chosen for this analysis.
The T. Rowe Price Japan Fund’s (PRJPX) total returns for the past one year ended July 24, 2015, stood at 6.8%. Toyota has been the fund’s top holding in the period, forming 4.8% of the portfolio on average.
Compared to MJFOX, NTJAX is overweight in the financials and telecommunication services sectors.
Both PRJPX and FPJAX are benchmarked to Japan’s TOPIX Index. While financials form the biggest holdings for FPJAX, PRJPX has maximum exposure to the industrials sector.
FPJAX’s average exposure to stocks belonging to different market caps has shown a clear favor for large-cap stocks. About 81.1% of its holdings for the past year were in the large cap space.
The Matthews Japan Fund (MJFOX) was not only the best performer in the one-year period ended July 24, it had the best Sharpe ratio as well, which stood at 1.1 for the period.
In the three months leading to July 24, only MJFOX was able to post positive returns. MJFOX outperformed its Japan-focused peers in the one-year, three-year, and five-year periods.
Policymakers and investors have been worried about Japan’s debt burden becoming unmanageable. The International Monetary Fund noted that Japan’s debt could near 300% of its GDP mark by 2030.
The precious metals market is feeling the heat of recessionary trends in the world economy. All three precious metal funds show a similar downward trend.
Vanguard Precious Metal and Mining Investment Fund (VGPMX) lags in diversification, as it’s a pure sector fund.
As the name implies, alternative mutual funds seek to accomplish the fund’s objectives through non-traditional investments and trading strategies.