Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Fund services news
  3. First U.S.-Listed Nikkei 225 ETF selects J.P. Morgan
Fund services news

First U.S.-Listed Nikkei 225 ETF selects J.P. Morgan


14 July 2011 New York
Reporter: Justin Lawson

Generic business image for news article
Image: Shutterstock
J.P. Morgan Worldwide Securities Services has been appointed by Precidian Funds LLC, to provide fund administration, fund accounting and custody services to its newly launched MAXIS Nikkei 225 Index exchange traded fund. The MAXIS Nikkei 225 Index Fund, which began trading this week, is the first U.S.-based Nikkei 225 ETF.

Precidian Investments, through an arrangement with Mitsubishi UFJ Asset Management Co., Ltd., has been granted an exclusive license to establish the only U.S. Nikkei 225 ETF. The Nikkei 225 Index, the foremost Japanese equity benchmark, comprises 225 liquid stocks in the 1st section of the Tokyo Stock Exchange. This index has been recognized around the globe as the premier index of Japanese stocks for the last 60 years.

As a pioneer in the creation of innovative financial products, Precidian Investments specializes in exchange-traded products/funds, mutual fund development, and associated trading and pricing technologies. J.P. Morgan currently provides depository services for the CurrencyShares Platform, nine currency-backed exchange traded products (ETPs), which were developed in partnership with Precidian Investments and sponsored by Rydex SGI. These products, which are also the first of their kind in the US, are traded under the CurrencyShares platform with total assets of $3.55 billion as of July 7, 2011.

Chris Lynch, Americas Markets Manager for J.P. Morgan Worldwide Securities Services, said: “We are delighted to have this opportunity to expand our relationship with Precidian Funds. J.P. Morgan has a rich history of innovation in the ETF space, with a commitment to the fund service business and pioneering technology, and we look forward to working with Precidian on their newly launched ETF.”

“By selecting J.P. Morgan to service this ETF we are building upon an existing strategic partnership and we are confident that its support will be a vital component to the success of this new fund,” said Precidian Chief Executive Daniel J. McCabe.
← Previous fund services article

Quintillion enhances client reporting portal
Next fund services article →

EFG Asset Management selects BNP Paribas
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →