Precidian Funds LLC, a wholly-owned subsidiary of Precidian Investments LLC, received approval from the SEC to launch the first U.S.-based Nikkei 225 ETF. The MAXIS(SM) Nikkei 225 Index Fund (NYSE:NKY) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Japanese market, as measured by the Nikkei 225 Index.
“We are thrilled that we are the first to be able to offer access to the Nikkei 225 through a U.S. ETF,” stated Dan McCabe, Chief Executive Officer of Precidian Funds. “Through a strong relationship with Mitsubishi UFJ Asset Management we were fortunate enough to secure an exclusive sublicense to utilize the Nikkei 225 Index, which enabled us to offer the only U.S. ETF which provides investors with exposure to this widely followed Japanese benchmark,” continued Mr. McCabe.
The MAXIS(SM) Nikkei 225 Index ETF is expected to begin trading July 13th on NYSE Arca at approximately $15 per share and has an annual expense ratio of 50 basis points (.50%). Precidian Funds LLC serves as Adviser, Northern Trust as Sub-adviser, JP Morgan Chase as Administrator and Custodian, and Foreside Fund Service LLC as Distributor.
Japan is the world’s third largest economy with total GDP of $5.5 trillion in 2010 and exports of $765 billion. Japan is the third largest exporter to the United States, and its fourth largest trading partner overall. The Nikkei 225 Index represents all of Japan’s major business sectors and includes some of the world’s most competitive and technologically advanced corporations, including NEC, Ricoh, Hitachi, Softbank and Kyocera; auto industry giants Toyota, Honda, Nissan, and Mitsubishi Motors; and electronics leaders such as Sony, Sharp, Canon, and Fujitsu. Globally, it is estimated that over $80 billion is benchmarked to the Nikkei 225 as of first half 2011.
For additional information, please go to www.precidianfunds.com for a copy of the prospectus or call 1-855.621.0930.
Investing involves risk and can include loss of principal. Additionally, investments in international securities may involve risk of capital loss from unfavorable movements in currency valuation, differences in generally accepted accounting principles and from geopolitical and risks specific to a particular region or country. Securities focusing on a single country may experience higher volatility.
MAXIS(SM) is a registered service mark of Mitsubishi UFJ Asset Management Co., Ltd. The Nikkei Stock Average is the intellectual property of Nikkei Inc. Nikkei Inc. reserves all the rights to the index. The Maxis Nikkei 225 Index Fund is not in any way sponsored, endorsed or promoted by Nikkei. Nikkei does not make any warranty or representation regarding the Fund. One cannot invest directly in an index.
Carefully consider the investment objectives, associated risk factors, fund expenses, and transaction costs before investing in the MAXIS Nikkei 225 ETF. Read the prospectus carefully before you invest. For more information or a copy of the prospectus, please visit www.nextetfs.com or call 1.800.xxx.xxxx.
The prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
SOURCE Precidian Funds LLC