TOCOM to list first ETFs in Japan's commodity mkt
Thursday, 28 January 2010
TOKYO, Jan 27 (Commodity Online): Tokyo Commodity Exchange, Inc (TOCOM) on Tuesday gave approval to its gold and platinum ETFs for the first time to list on the Osaka Securities Exchange on February 15, 2010.
These will be the first Japanese ETFs which invest directly in the Japanese commodity futures market, said TOCOM in its statement.
The ETF investing in the gold futures contract is set up and managed by Mizuho Asset Management Co Ltd, and tracks the settlement price of gold futures in the back contract month (however, for the rollover, the new back contract month will only be tracked on and after the first business day of the month following the day on which it was generated).
The other ETF investing in the platinum futures contract is set up and managed by Nomura Asset Management Co Ltd, and tracks the performance of the Nikkei-TOCOM Platinum Index.
The December 2008 amendment of the Ordinance for Enforcement of the Act on Securities Investment Trust and Securities Investment Corporations of Japan enabled investment trusts to include commodity futures contracts in their portfolios.
Thereafter, a number of investment funds have been developed in response to the investors' growing interest in the commodity markets to diversify their investment. Unlike the ones that were previously listed, these ETFs are the first ones to invest in a Japanese commodity futures market.
These will be the first Japanese ETFs which invest directly in the Japanese commodity futures market, said TOCOM in its statement.
The ETF investing in the gold futures contract is set up and managed by Mizuho Asset Management Co Ltd, and tracks the settlement price of gold futures in the back contract month (however, for the rollover, the new back contract month will only be tracked on and after the first business day of the month following the day on which it was generated).
The other ETF investing in the platinum futures contract is set up and managed by Nomura Asset Management Co Ltd, and tracks the performance of the Nikkei-TOCOM Platinum Index.
The December 2008 amendment of the Ordinance for Enforcement of the Act on Securities Investment Trust and Securities Investment Corporations of Japan enabled investment trusts to include commodity futures contracts in their portfolios.
Thereafter, a number of investment funds have been developed in response to the investors' growing interest in the commodity markets to diversify their investment. Unlike the ones that were previously listed, these ETFs are the first ones to invest in a Japanese commodity futures market.