This Fund invests in stocks that comprise the Tokyo Stock Price Index (TOPIX) and create a portfolio in accordance with the calculation method of the Index. As a rule, by maintaining the portfolio constructed in this way, this Fund strives to achieve a high level of linkage between the Net Asset Value (NAV) and the movements of the Index.

Key information
Name: Listed Index Fund TOPIX

ProspectusProspectus (summarized)
ProspectusProspectus (full version)

Monthly ReportMonthly Report
Earnings ReportEarnings Report
Code: 1308

Net Asset Value and Performance

NAV (per 100 shares): ¥{{numberFormat net_per_unit}}   (As of: {{dateFormat distribution_date 'Y-m-d'}}) Net Assets: {{numberFormat (M:floor total_net_assets)}} million
Day change: ¥{{numberFormat change_from_previous}} Issued: {{numberFormat unit_of_beneficial_interest}} shares

Performance Chart

— Net Asset Value (per Shares) (excluding dividend payment) (¥)
— Tokyo Stock Price Index (TOPIX)

  • NAV value is listed after deducting trust fees.
  • Trademarks and all other intellectual property for all labels containing “TOPIX” are the sole property of Tokyo Stock Exchange.
  • The performance, data, etc., noted above are based on past information and neither guarantee nor promise future performance.
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Fund Name Listed Index Fund TOPIX
Open-end/Domestic/Equities/ETF/Index type
Listed Exchange Tokyo Stock Exchange
Issue Code 1308
Targeted Investments This Fund mainly invests in constituents of the Tokyo Stock Price Index (TOPIX)
Date Listed 9 January 2002 (launched on 20 December 2001)
Exchange Trading Unit 100 units
Trust period Unlimited
Computation Period From 9 July of each year to 8 July of the following year
Closing Date 8 July of each year
Dividends All revenue from dividends arising from the trust assets will be, in principle, paid as dividends on the last day of the fiscal year after deducting expenses.
*There is no guarantee on the payment or the amount of dividend

Fund Expenses

■Expenses to be borne directly by investors

　　
Subscription Fee Independently set by Distributors
*Please contact your Distributor for further information.
* Subscription Fee is compensation for explanation and information providing about the Fund or investment environment, and is also including expense of clerical processing of the subscription.
Exchange Fee Independently set by Distributors
*Please contact your Distributor for further information.
*Exchange Fee is compensation for clerical processing of the exchange.
Amount to be Retained in Trust Assets None.

■Costs paid indirectly by the customer for the trust assets (paid from the fund)

TER (Total Expense Ratio) 0.1417%(TER includes Trust Fee, management fee and other costs below)
※This represents the actual TER for the period of July 9, 2018-July 8, 2019
Investment Management Expenses(Trust fee)

No more than 0.242%(0.22% excluding taxes) per annum of the daily total NAV of the Fund

The investment management fee is daily recorded and paid out of the trust assets at the end of each calculation period or at the time of termination of the Trust.

Distribution of Investment Management Expenses(annual rate)

When above is 0.088%, as of the date of filing of the securities registration statement:

Investment Management Expenses(Trust fee)
=NAV of investment period X Trust fee rate
Total Management Company Trustee
0.088% 0.060% 0.028%
Management Company Compensation for investment management
Trustee Compensation for administration of assets under management and execution of orders from Management Company
*Figures are excluding tax. Consumption tax will be added.
Other Expenses and Fees

Auditing fees, brokerage commissions on securities in the portfolio, interest on advances, fees related to the listing of the fund, trademark usage fees for “TOPIX”. These fees are incorporated in the TER stated.

*Auditing fee is an expense paid to audit firm for auditing of the Fund
*The figures for items such as the rate and maximum amount cannot be provided in advance as they fluctuate in line with investment performance and other factors.

■Securities lending

Lending Fee

Nikko Asset Management runs a securities lending program to enhance the net return of the fund for investors. Nikko Asset management receives the amount obtained by multiplying a lending fee on securities lent by a figure not exceeding 55%(50% excluding taxes) as of the date of the filling of the securities registration statement) to cover all the operational costs of engaging in this activity for the fund.

The total amount of expenses of the Fund to be borne by investors varies according to holding length and investment status, and thus cannot be shown.

Major Investment Restrictions

  • There is no restriction on the investment ratio in stocks.
  • The Fund invests mainly in shares of the component stocks of TOPIX. However, this does not apply to stocks that are acquired through shareholder allotments.
  • The Fund does not invest in assets denominated in foreign currencies.

Trustee Companies

  • Mitsubishi UFJ Trust and Banking Corporation

The TOPIX (Tokyo Stock Price Index) is a free-floating adjusted Index of the total market value of all stocks traded on the first section of the Tokyo Stock Exchange. The index is a measure of the changes in aggregate market value of the stocks, using the closing total on 4 January 1968 as the base of the Index, with a starting value of 100.

The aggregate market value is adjusted so that it will not be affected by changes in the aggregate market value due to factors other than market conditions such as paid-in capital increases, new listings or delistings, to ensure continuity of the index. The TOPIX has established a global reputation as a representative Japanese stock index.

What is TOPIX?

Further Information

Japan Exchange Group (JPX)

  • Listed ETF Prices

    To see the Listed ETF Prices, please follow this link and click "Display of stock price".

Japan Exchange Group publishes summaries and lists of the ETFs, as well as other valuable information on their website.

Copyright

The TOPIX Index Value and the TOPIX Trademarks are the intellectual property of the Tokyo Stock Exchange. All rights relating to the TOPIX, including calculation, publication and use of the TOPIX Index Value as well as those relating to the TOPIX Trademarks belong to the Tokyo Stock Exchange.

The Tokyo Stock Exchange reserves the rights to change the methods of calculation or publication, to cease the calculation or publication of the TOPIX Index Value or to change the TOPIX Trademarks or cease the use thereof.

The Tokyo Stock Exchange makes no warranty or representation as to the results derived from the use of the TOPIX Trademarks.

The Tokyo Stock Exchange does not guarantee the accuracy or completeness of the TOPIX Index Value and data contained therein. Further, the Tokyo Stock Exchange shall not be liable for the miscalculation, incorrect publication, delayed or interrupted publication of the TOPIX Index Value.

There is a possibility that the NAV of this Fund may be substantially deviated from the TOPIX although the investment objective of this Fund is to seek investment results that generally correspond to the TOPIX Index Value.

This Fund is not in any way sponsored, endorsed or promoted by the Tokyo Stock Exchange.

The Tokyo Stock Exchange does not bear any obligation to give an explanation of this Fund or an advice on investments in this Fund to any purchaser of this Fund or to the public.

Including but not limited to the foregoing, the Tokyo Stock Exchange shall not be responsible for any damage resulting from the issue and sale of this Fund.

Daily Fund Data (CSV)

Portfolio data (XLS)

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A unit stock is a unit in a stock basket that an investor applying for an acquisition through addition contributes to. A unit stock is also a unit in a stock basket that an investor who applies for an exchange receives in trade for a beneficial interest.

This Fund can be applied for as a direct addition and exchange at Authorised Participants in addition to the Tokyo Stock Exchange. In this case, "unit stock" is referred to as a unit. When applying as a direct addition and exchange, please keep in mind that we cannot accept your application on the following dates:

Authorized Participants

  • SMBC Nikko Securities Inc.
  • Citigroup Global Markets Japan Inc.
  • ABN AMRO Clearing Tokyo Co., Ltd.
  • BNP Paribas Securities (Japan) Limited
  • Credit Suisse Securities (Japan) Limited
  • Daiwa Securities Co. Ltd.
  • Deutsche Securities Inc.
  • Goldman Sachs (Japan) Co., Ltd.
  • JPMorgan Securities Japan Co., Ltd.
  • Merrill Lynch Japan Securities Co., Ltd.
  • Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
  • Mizuho Securities Co., Ltd.
  • Morgan Stanley MUFG Securities Co., Ltd.
  • Nomura Securities Co., Ltd.
  • Societe Generale Securities Japan Limited
  • Tokai Tokyo Securities Co.,Ltd.
  • UBS Securities Japan Co.,Ltd.

Daily Creation and redemption are based on ETF's NAV calculated in early evening. Confirm non-tradable days by referring to trading calendar on our official homepage. Basket for creation is continually-updated on our official homepage.

Basically sell/buy at last price of T day's market.

The flow chart below is showing the creation/redemption process for Nikko AM ETFs. Please note that transactions cannot be processed for days on which applications are not accepted.

Creation Flow for In-kind Creation/Redemption Type ETFs

Creation Flow for In-kind Creation/Redemption Type ETFs

Essential Considerations

  • Please secure the basket for creation ETF when making application.
  • We recommend you to take measures like borrowing stocks in order to secure the basket for settlement for ETF creation.

Redemption flow for in-kind Creation/Redemption Type ETF

Redemption flow for in-kind Creation/Redemption Type ETF

As of: {{dateFormat date 'Y-m-d'}}
  Code Issue Name % Net Asset
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Download Top 10 Holding's History
As of: {{dateFormat record_date 'Y-m-d'}}
Balance of Stock Lending (A) {{numberFormat (M:round lending_amount)}}
Received Collateral (B) {{numberFormat (M:round secured_call_amount)}}
% Collateralisation (B) / (A) {{numberFormat (M:round collateralisation)}}

* Balance of stock lending is the amount of each lent stock on the day of calculation multiplied by the market value of two business days earlier.

  • Acceptable Collateral: JPY Cash
% of AUM on Loan {{numberFormat aum_loan_percentage}}

* Total percentage of market value of lent stock multiplied by balance of net assets.

The lending fee spilt between fund (50%), Management Co. (25%) and Trustee (25%).

Investors are not guaranteed the investment principal that they commit. Investors may incur a loss and the value of their investment principal may fall below par as the result of a decline in market price or NAV. All profits and losses arising from investments in the Fund belong to the investors (beneficiaries). This fund is different from saving deposit.

The Fund invests primarily in stocks. The NAV of the Fund may fall and investors may suffer a loss due to a decline in stock prices or deterioration in the financial conditions and business performance of an equity issuer.

Major risks are as follows:

1. Price Fluctuation Risk
Stock prices fluctuate due to the changes in the information of the company’s growth and profitability, and any changes in such information. They also fluctuate as they are affected by economic and political conditions in Japan and abroad. There is a risk that the Fund may incur material losses if unexpected changes occur in stock price movements or liquidity.

2. Liquidity Risk
There is a risk that the Fund will incur unexpected losses when the market size or trading volumes is small. The purchase and sale prices of securities are influenced by the trading volume, resulting in the inability of the Fund to sell certain stocks in its portfolio at prices that are expected to be realized in light of the prevailing market trend, that a security can sold as appraised, or that the transaction volume is limited regardless of the price levels.

3. Credit Risk
There is a risk that the Fund will incur material losses in the event of a crisis that directly or indirectly affects the business of a corporation in which the Fund invests. The prices of stocks of issuers may substantially decline (possibly to zero) due to fears of default or corporate bankruptcy, which can contribute to decline in the Fund's NAV.

4. Security-lending Risk
Lending of securities is accompanied by counterparty risks, which are the risks of default or cancellation of lending agreements as a result of bankruptcy, etc., of the counterparties. As a result, there is a risk that the Fund will suffer unexpected losses. Following the default or cancellation of a lending agreement, when liquidation procedures are implemented by using the collateral that is set aside in the lending agreement, the procurement cost of buying back the securities can surpass the collateral value, due to price fluctuations in the market. In such cases, the Fund is required to pay the difference, which may cause the Fund to incur losses.

Risk of Discrepancy between TOPIX and NAV

This Fund seeks to match the NAV volatility with that of the TOPIX, however, we cannot guarantee that movements will be identical to those of the index for the following reasons:

  • The potential market impact from the trading, etc., of individual issues when portfolio adjustments are made due to changes in selected issues on the TOPIX or capital transfers, or costs borne by the Fund such as trust fees, brokerage commission, and audit costs, etc.
  • Dividends may be paid by stocks in the portfolio and fees may be earned for securities lent.
  • When derivative transactions such as futures are made, there may be disparity between the price movements of all or some of such transactions and that of the TOPIX.

Discrepancy between the market prices at which stocks are traded on financial instruments exchanges and the NAV
The Fund is listed on the Tokyo Stock Exchange and the units are traded on that exchange. The market price of the units is affected primarily by the size of demand for the Fund, its performance, and how attractive it is to investors in comparison with their other investments. It is not possible to predict whether the units will sell in the market above or below the NAV.
* The factors that contribute to fluctuations in the NAV are not limited to those listed above.

Additional Considerations

  • These materials are distribution materials created by Nikko Asset Management in order to increase investors' understanding of “Listed Index Fund TOPIX”.
  • The provisions stipulated in Article 37-6 of the Financial Instruments and Exchange Act ("cooling-off period") are not applicable to Fund transactions.
  • This Fund differs from deposits or insurance policies in that it is not protected by the Deposit Insurance Corporation of Japan or the Policyholders Protection Corporation of Japan. Furthermore, units purchased from registered financial institutions, such as banks, are exempted from compensation by the Japan Investor Protection Fund.
  • When applying to invest in the Fund, please make the decision to invest carefully after taking the time to read the delivered pre-agreement document and other relevant materials in detail.