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This Fund seeks the net asset value per unit to track the performance of NASDAQ100 JPY-converted Index by mainly investing in the mother fund.

Key information
Name: Listed Index Fund US Equity (NASDAQ100) No Currency Hedge

Overview of the Delivery ProspectusOverview of the Delivery Prospectus

Earnings ReportEarnings Report
Code: 2568

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 - Since Listing on 24 September 2020

— Net Asset Value (per Shares) (excluding dividend payment) (¥)
— Nasdaq-100 Index (JPY-converted)

  • NAV value is listed after deducting trust fees.
  • The benchmark in the graph is set in accordance with the NAV as of the graph’s starting point.
  • Details of copyright are disclosed at the copyright section.
  • The performance, data, etc., noted above are based on past information and neither guarantee nor promise future performance.

Structure of the Fund

Structure of the Fund

Fund Name Listed Index Fund US Equity (NASDAQ100) No Currency Hedge
Open-end/Overseas/Equities/ETF/Index-type
Listed Exchange Tokyo Stock Exchange
Issue Code 2568
Targeted Investments This Fund seeks to achieve net asset worth per unit that closely correlates with the movement of NASDAQ100 JPY-converted Index by mainly investing in the mother fund.
Date Listed September 24, 2020 (launched on September 17, 2020)
Exchange Trading Unit 10 units
Trust period Unlimited
Computation Period From 9 January to 8 July, from 9 July to 8 January of the following year
Closing Date January 8 and July 8 each year
Dividends As a general rule, the full amount of dividends and other income arising from the trust assets is distributed after deduction of 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)

Currency Hedge: 0.3705% / No Currency Hedge: 0.3612%
* This represents the actual TER for the period of July 10, 2023 – July 8, 2024.

Costs paid indirectly by the customer for the trust assets (paid from 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.
  • There is no restriction as to the investment ratio for assets denominated in foreign currencies.

Trustee Companies

  • Sumitomo Mitsui Trust Bank, Limited

NASDAQ-100 Index is a market capitalization-weighted equity index composed of 100 largest companies by market capitalization except financial sector among the companies listed on Nasdaq in the United States. NASDAQ100 JPY-converted Index is the result of the converting local currency denominated index to JPY by Nikko Asset Management Co., Ltd.

Further Information

Japan Exchange Group (JPX)

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

S&P Global

NASDAQ100 JPY-converted Index

*Link to external sites.

Copyright and Other Rights of the “NASDAQ-100 Index”

The Product(s) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the “Corporations”). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the NASDAQ-100 Index® to track general stock market performance. The Corporations' only relationship to Nikko Asset Management Co., Ltd. (“Licensee”) is in the licensing of the Nasdaq®, and certain trade names of the Corporations and the use of the NASDAQ-100 Index®, which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s). Nasdaq has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the NASDAQ-100 Index®. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ-100 INDEX® OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100 INDEX® OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ-100 INDEX® OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

Daily Fund Data (CSV)

Portfolio data (XLS)

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This Fund can be applied for as a cash creation and a cash redemption at Authorised Participants in addition to the Tokyo Stock Exchange. 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.
  • ABN AMRO Clearing Tokyo Co., Ltd.
  • Barclays Securities Japan Limited
  • BNP Paribas Securities (Japan) Limited
  • BofA Securities Japan Co., Ltd.
  • Goldman Sachs Japan Co.,Ltd.
  • Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
  • Nomura Securities Co.,Ltd.
  • Societe Generale Securities Japan Limited

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 while FX rate is TTM of one business day after the application (10am on T+1)

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 Cash Creation/Redemption Type ETFs

Cash Creation/Redemption Type ETFs

Redemption Flow for cash Creation/Redemption Type ETFs

Redemption flow for cash Creation/Redemption Type ETFs

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. Losses may also be incurred due to exchange rate fluctuation when investing in assets denominated in foreign currencies.

Major risks are as follows:

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.

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.

Credit Risk
There is a risk that the Fund will incur material losses in the event of a serious 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.

Currency Fluctuation Risk
For foreign-currency-denominated assets, in general, if the yen is stronger than the currencies of such assets, the fund’s NAV will decline.

Major discrepancy factors for the NASDAQ100 JPY-converted Index and NAV

Whereas the Fund seeks to match the NAV volatility with that of the NASDAQ100 JPY-converted Index, it does not guarantee movements that are identical to those of the Index for the following reasons:

  • The potential investment in selected issues other than the NASDAQ100 JPY-converted Index, potential market impact from the trading, etc., of individual issues when portfolio adjustments are made due to changes in selected issues on the NASDAQ100 JPY-converted Index or capital transfers, or costs borne by the Fund such as trust fees, brokerage commission, and audit costs, etc.
  • The timing and amount of payment for the distribution of the Fund will not be completely the same as the distribution from the underlying stocks.
  • 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 NASDAQ100 JPY-converted Index.

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 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

  • This document is meant as promotional material whose purpose is for Nikko Asset Management to provide information about its "Listed Index Fund US Equity (NASDAQ100) No Currency Hedge" and for investors to gain further understanding about the fund.
  • The provisions stipulated in Article 37-6 of the Financial Instruments and Exchange Act (the “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. Nor are investment trusts protected by investor protection funds when purchased at banks or other registered financial institutions.
  • When the Fund faces big redemption causing short term cash requirement or sudden change in the main trading market condition, there can be temporal decline in the liquidity of holding assets, resulting in the risks that Fund unable to trade securities at the expected market prices or appraised prices, or encounters limitation in trading volume. This may result in the negative influence on NAV, suspension of redemption applications, or delay in making payment of redemption.
  • 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.