I recently purchased a longer term position in the Swiss Helvetica Fund (ticker: SWZ). 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 policy of the Fund is not to hedge the exposure to the Swiss Franc. So investors are fully exposed to fluctuations in the value of the Swiss franc relative to the U.S. dollar.

5) Sponsorship- Karpus Investment Management has a fairly big position in the fund. Karpus is known as an activist investor, and may push to reduce the NAV discount at some point.

Full Disclosure: I am long shares of SWZ.