Funds

Japan Smaller Capitalization Fund, Inc. ("JOF" or the "Fund") Japan Smaller Capitalization Fund, Inc. ("JOF" or the "Fund") is a non-diversified, closed- end management investment company. The Fund’s investment objective is to provide shareholders with long-term capital appreciation and to invest, under normal circumstances, at least 80% of its total assets in smaller capitalization Japanese equity securities traded on the Tokyo, Osaka, Nagoya, and JASDAQ Stock Exchanges, the Mothers, Hercules, Centrex markets, and other indices or markets determined by Nomura Asset Management U.S.A. Inc. to be appropriate indices or markets for smaller capitalization companies in Japan.

Korea Equity Fund, Inc. ("KEF" or the "Fund") seeks long-term capital appreciation through investments primarily in equity securities of Korean companies. Under normal circumstances, the Fund will invest at least 80% of its total assets in such securities. KEF is a non-diversified, closed-end management investment company listed on the New York Stock Exchange and the Osaka Securities Exchange.