Clara Furse, Chief Executive of the London Stock Exchange, said:
âThe listing of this ETF based on the Japanese TOPIX index represents an important opportunity for UK investors to gain exposure to a broad range of Japanese securities listed on the Tokyo Stock Exchange. As our collaboration with the Tokyo Stock Exchange develops, we intend to offer investors in both countries further cross-market opportunitiesâ.
Atsushi Saito, President & CEO of Tokyo Stock Exchange, Inc. commented:
âThe TSE is delighted with the London Stock Exchangeâs listing of an Exchange Traded Fund based on the TOPIX, a representative index of Japanese stocks. This ETF enhances convenience for UK investors by increasing the number of tools for investing in Japanese stocks at their disposal, and we expect that this listing will provide the impetus for a further enhancement of capital flows between Europe and Japan.â
The Lyxor ETF Japan is based on the Tokyo Stock Price index (TOPIX). The TOPIX is a market capitalisationâweighted index, comprising all the companies traded on the First Section of the Tokyo Stock Exchange. There are currently 1,718 (as of September 25 2007) companies in the index, including some of Japanâs largest companies. By offering exposure to such a large, diverse range of companies the index is a reliable indicator for developments on the Japanese stock market.
Commenting on the launch Daniel Draper, Head of ETFs for UK, Ireland and the Nordic Region at Lyxor Asset Management, said:
âLyxor is thrilled to be the first to offer an LSE-listed ETF tracking the TOPIX. This latest addition to our product range will enable UK investors to access one of the worldâs most important equity markets with ease, convenience and cost-efficiency.â