Nomura Asset Management To Launch Nikkei 225 Double Inverse Index ETF
Nomura Asset Management Co., Ltd., Japan’s largest asset management company and a wholly owned subsidiary of Nomura Holdings, Inc., announced on 26 June plans to launch a new exchange traded fund (ETF) designed to track the performance of the Nikkei 225 Double Inverse Index.
Named “NEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund” (ticker:1357), the new ETF was today approved for listing by the Tokyo Stock Exchange (TSE) with a launch date of July 14 and a listing date of July 16. From the listing date, investors will be able to trade the new ETF on the TSE through securities dealers and traders in Japan.
Nomura Asset Management manages ETFs aimed to track leveraged (2x) and inverse (-1x) indices based on the Nikkei 225 and will expand its line-up of leveraged and inverse ETFs with the double inverse (-2x) ETF.
“NEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund” can be subscribed and redeemed only in cash, pursuant to the relevant Japanese tax regulations.