Lyxor AM, Societe Generales wholly-owned subsidiary, will introduce for trading on Borsa Italiana Lyxor ETF Japan (TOPIX), a Japan-based ETF.
The ETF replicates the performance of the TOPIX index, composed of 1,692 securities listed on the Tokyo Stock Exchange (TSE) First Section.
In terms of number of securities, the TOPIX index is the most representative of the Japanese economy since it offers a much broader diversification compared to the other indices: the Nikkei in fact comprises 225 securities, while the MSCI Japan index considers approximately 370.
The TOPIX index is widely used as key benchmark by institutional investors throughout the world, for measuring the performance of the Japanese economy, confirms Isabelle Bourcier, ETF global Co-ordinator for Lyxor AM.
Lyxor ETF Japan (TOPIX) was launched on 17 November 17, 2005, it will be admitted to continuous trading on Borsa Italiana as an equity, carries no entry/exit/performance fee and the annual management fee is 0.5%.
TSE warmly welcomes the listing of an ETF based on the TOPIX index published and calculated by the TSE on the Borsa Italiana, allowing Italian investors better access to the Japanese equity based ETF,” said Taizo Nishimuro, Chairman & CEO of Tokyo Stock Exchange (TSE), Inc.