Norinchukin Zenkyoren Asset Management lists DAX ETF in Tokyo
Zug, 21 September 2023 – STOXX Ltd. has announced the licensing of the DAX Index (JPY Hedged) to Norinchukin Zenkyoren Asset Management Co., Ltd. (NZAM) in Japan. The index is used as an underlying for an ETF which will be listed on the Tokyo Stock Exchange tomorrow. It is the 2nd DAX ETF on the Japanese market.
“We are committed to providing good investment opportunities to Japanese investors. We are very pleased to be able to provide access to the German economy for not only institutional investors but also a wide range of investors through our ETF.”Takeshi Kuwabara, Executive Officer, NZAM
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“We are proud that the international reputation of DAX as a brand keeps growing with newly offered products, and that we can expand our footprint in Japan together with NZAM. Japanese investors now can use this product to gain exposure to the German economy. DAX is the defining index for the German equity market, containing well-known global brands. It is also the underlying for many liquid financial products.”Serkan Batir, Managing Director, DAX
The DAX tracks the performance of the 40 largest companies listed on the Regulated Market of the Frankfurt Stock Exchange that satisfy certain quality and profitability requirements. Selection is based on free-float market capitalization. DAX is completely rules-based and transparent. It is primarily calculated as a performance index and is one of the few major country indices that takes dividend yields into account, thus fully reflecting the actual performance of an investment in the index portfolio.
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