The Amundi JPX-Nikkei 400 UCITS ETF became active on 18 November, and carries a TER of 0.18%, which Amundi says is the lowest in the market for this exposure.
It tracks the JPX-Nikkei 400 Total Net Return Index, which differs from other Japanese stock market indices in that it accounts for constituents' three-year return on equity performance, last three-year cumulative operating profits, market capitalisation and corporate governance.
Amundi outlined its confidence in the JPX-Nikkei 400, which it believes will benefit from Abenomics and encourage companies across the board to alter their behavior. It also has faith in the GDP-growth potential and monetary policy of the Japanese market as a whole.
Valérie Baudson, Amundi global head of ETF and indexing, said: “The JPX-Nikkei 400 Index could become the future benchmark for the Japanese equity market and we are delighted to propose an ETF tracking it at the lowest price in the market.”
The ETF is listed on Euronext Paris, with shares available in both euro and Japanese yen. Amundi said that it plans to cross-list the fund in other European countries in the next few weeks.