Topix-based fund listed on London bourse for 1st time.
An exchange-traded fund tracking Japan's Topix stock index was listed on the London Stock Exchange for the first time Tuesday, the LSE, the Tokyo Stock Exchange and Lyxor Asset Management SA said.
The new financial instrument, called Lyxor ETF Japan (Topix), is aimed at giving both institutional and private investors access to the market capitalization-weighted index made up of all the 1,718 firms traded on the TSE First Section, the three said in a joint statement.
Lyxor Asset Management, a wholly owned subsidiary of French financial services firm Societe Generale Group S.A., created the fund.
''The listing of this ETF based on the Japanese Topix index represents an important opportunity for U.K. investors to gain exposure to a broad range of Japanese securities listed on the Tokyo Stock Exchange,'' LSE Chief Executive Officer Clara Furse said.
''We expect that this listing will provide the impetus for a further enhancement of capital flows between Europe and Japan,'' said TSE President and CEO Atsushi Saito.
The debut of the Topix-based fund follows a tie-up deal signed in late January between the London and Tokyo burses.