Nomura Holdings’ asset management subsidiary Nomura Asset Management today listed the NEXT FUNDS Nikkei225 Double Inverse Index Exchange-traded Fund on the Tokyo Stock Exchange (TSE).
The ETF is designed to track the performance of the Nikkei225 Double Inverse Index that fluctuates two times inverse (-2x) of the daily performance of the Nikkei 225.
Commenting on the listing ceremony held today at the Japanese exchange, Takashi Saruta, executive managing director of Nomura Asset Management, said that Nomura expects the third structure of the firm’s NEXT FUNDS range to gain traction among retail investors.
“We are confident that the ETF meets the needs of a broad range of investors, including as an instrument aimed at capturing market movements over relatively short periods, in addition to our NEXT FUNDS Nikkei225 Leveraged Index exchange-traded Fund and NEXT FUNDS Nikkei 225 Inverse Index exchange-traded Fund, and as a convenient and effective tool for hedging market risk,” he said.
In trading today, the ETF opened at ¥5,270 and closed at ¥5,260 with a total volume of 43,965 units and trading value of approximately ¥231m.
Investors can now trade the new ETF on the Tokyo exchange through securities dealers and traders in Japan.
The NEXT FUNDS Nikkei225 Double Inverse Index Exchange-traded Fund complements the existing range of leveraged (2x) and inverse (-1x) indices based on the Nikkei225 managed by Nomura Asset Management.
The NEXT FUNDS Nikkei225 Double Inverse Index ETF can be subscribed to and redeemed only in cash, in accordance with Japanese tax regulations.
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