Named ‘NEXT FUNDS Thai Stock SET50 Exchange Traded Fund’ and ‘NEXT FUNDS FTSE Bursa Malaysia KLCI Exchange Traded Fund’, the new ETFs were approved for listing by the Tokyo Stock Exchange with a launch date of 10 May 2011 and listing date of 12 May 2011.
From the listing date, investors will be able to trade the ETFs just like ordinary stocks on the TSE through securities dealers and traders in Japan.
To achieve their investment objectives, each ETF will directly hold a portfolio maintaining a correspondence between the composition and weights of the stocks (including depositary receipts) held within the ETF assets and the stocks in their respective index.
The ETFs are designed to provide investment results that generally correspond to the price and yield performance of the respective index, where performance of both the ETF and the index are measured in Japanese yen.
The funds may also periodically take minor positions in stock index futures when necessary, said Nomura.
