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The Funds seek the net asset value per unit to track the performance of Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged by mainly investing in the separately stipulated investment trust securities.

Key information
Name: Listed Index Fund France Government Bond (No Currency Hedge)

Overview of the Delivery ProspectusOverview of the Delivery Prospectus

Earnings ReportEarnings Report
Code: 2861

Net Asset Value and Performance

NAV (per 10 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 17 August 2022

— Net Asset Value (per Shares) (including dividend payment) (¥)
— Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged

Performance Chart - Since Inception on 12 August 2022

— Net Asset Value (per Shares) (including dividend payment) (¥)
— Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged

  • Net Asset Value is 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 France Government Bond (No Currency Hedge)
Open-end/Overseas/Bonds/ETF/Index-type
Listed Exchange Tokyo Stock Exchange
Issue Code 2861
Targeted Investments This Fund seeks to achieve net asset volatility per unit of trust assets which closely correlates with that of Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged by investing mainly in all or portion of separately stipulated investment trust securities.
Date Listed August 17, 2022 (launched on August 12, 2022)
Exchange Trading Unit 10 units
Trust period Unlimited
Computation Period From 11 February to 10 May, 11 May to 10 August, 11 August to 10 November of each year, and from 11 November to 10 February of the following year
Closing Date 10th of February, May, August and November of 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 for the amount and payment of dividends in the future.

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: 0.1603% / No Currency Hedge: 0.2194%
* This represents the actual TER for the period of August 14, 2023 - August 9, 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.

Investment Restrictions

  • The Funds will not directly invest in securities other than those held for investment trusts, short term corporate bonds, etc., commercial paper, and designated money in trust.
  • There is no restriction on the investment ratio for assets denominated in foreign currencies.

Trustee Companies

  • Sumitomo Mitsui Trust Bank, Limited

The benchmark index for Currency Hedge is Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Hedged and the benchmark index for No Currency Hedge is Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged. As the Funds track total investment returns of France treasury bonds with maturities of 7-10 years, they are classified into one fund with currency hedge and one fund with no currency hedge.

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

Bloomberg

Bloomberg Australia Treasury 7-10 Year Index JPY Currency Hedged Index

【Index Constituents】

  • Bloomberg Indices

    Go to "Benchmark Indices", select "Indices used in UCITS Funds" and click "Constituents" of "France Treasury 7-10 Yr TTM (JPY Unhedged)" in the list.

*Link to external sites.

Copyright and Other Rights of the “Bloomberg France Treasury 7-10 Year Index”

Bloomberg®” and Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Hedged / Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”), and have been licensed for use for certain purposes by Nikko Asset Management Co., Ltd..

The Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge) are not sponsored, endorsed, sold or promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or implied, to the owners of or counterparties to the Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge) or any member of the public regarding the advisability of investing in securities generally or in the Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge) particularly. The only relationship of Bloomberg to Nikko Asset Management Co., Ltd. is the licensing of certain trademarks, trade names and service marks and of the Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Hedged / Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged, which is determined, composed and calculated by BISL without regard to Nikko Asset Management Co., Ltd. or the Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge). Bloomberg has no obligation to take the needs of Nikko Asset Management Co., Ltd. or the owners of the Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge) into consideration in determining, composing or calculating the Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Hedged / Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged. Bloomberg is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge) to be issued. Bloomberg shall not have any obligation or liability, including, without limitation, to Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge) customers, in connection with the administration, marketing or trading of the Listed Index Fund France Government Bond (Currency Hedge) / Listed Index Fund France Government Bond (No Currency Hedge).

BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY HEDGED / BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY UNHEDGED OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY NIKKO ASSET MANAGEMENT CO., LTD., OWNERS OF THE LISTED INDEX FUND FRANCE GOVERNMENT BOND (CURRENCY HEDGE) / LISTED INDEX FUND FRANCE GOVERNMENT BOND (NO CURRENCY HEDGE) OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY HEDGED / BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY UNHEDGED OR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY HEDGED / BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY UNHEDGED OR ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN CONNECTION WITH THE LISTED INDEX FUND FRANCE GOVERNMENT BOND (CURRENCY HEDGE) / LISTED INDEX FUND FRANCE GOVERNMENT BOND (NO CURRENCY HEDGE) OR BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY HEDGED / BLOOMBERG FRANCE TREASURY 7-10 YEAR INDEX TTM JPY CURRENCY UNHEDGED OR ANY DATA OR VALUES RELATING THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.

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

  • ABN AMRO Clearing Tokyo Co., Ltd.
  • Barclays Securities Japan Limited
  • BNP Paribas Securities (Japan) Limited
  • Goldman Sachs Japan Co.,Ltd.
  • Nomura Securities Co.,Ltd.
  • SMBC Nikko Securities Inc.

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 funds invest primarily in bonds. The NAV of the Funds may fall and you may suffer a loss for reasons such as a drop in the price of bonds or deterioration in financial conditions and business performance of an issuer of bonds. Investors may also incur losses due to exchange rate fluctuations when investing in assets denominated in foreign currencies.

Major risks of investment trust securities invested in by the Funds are as follows:

Price Fluctuation Risk
Corporate and government bonds generally have a price fluctuation risk arising from changes in interest rates. Generally, their prices go down when interest rates rise, causing the NAV of the Funds to fall. The degree of price fluctuation varies depending on the remaining time to maturity and the terms of issue in question.

Liquidity Risk
Where the market size or trading volume is small, buying and selling prices for securities may be greatly affected. This results in the risk that securities cannot be traded at the expected prices, sold at the appraised prices, or that trading volume is limited regardless of prices. This creates the risk of unexpected losses.

Credit Risk
If a default has occurred or is expected to occur, for issuers of public and corporate bonds or short-term financial assets, the prices of such public and corporate bonds or short-term financial assets decline (the value could even fall to zero). This results in a decline of the Funds’ NAVs. In addition, if default in fact occurs, there is a high possibility of being unable to collect invested cash.

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.

Main factors contributing to the discrepancies between Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged and NAV

This fund seeks to ensure that its NAV has the same volatility as Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged; however, we cannot always guarantee that the fund will have the same volatility as the Index due to the following factors attributable to this Fund and to the investment trust securities invested in by this fund:

  • Lag between the timing of fund inflows and the purchase of investment trust securities.
  • Where the portfolio is adjusted through investment in issues other than the constituent issues of Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged or through changes in the constituent issues or weighting of Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged, the trading of individual issues may be affected by market impact or the fund may bear costs such as management fees, brokerage fees and auditing fees.
  • The timing and amount of payment for the distribution of the Fund will not be completely the same as the distribution from the underlying bonds; and
  • Where derivative transactions such as futures are conducted, discrepancies in price movements between such transactions and part or all of the constituent issues of Bloomberg France Treasury 7-10 Year Index TTM JPY Currency Unhedged.

Discrepancies between the market prices at which stocks are traded on the Exchange and the NAV
The Funds are listed on and will be publicly traded on the Tokyo Stock Exchange; however, the market price of the units will depend mainly on the demand for the Funds, their investment performances, and how attractive they are to investors in comparison to alternative investments, etc. We cannot predict whether the Funds will be traded as a market value below or above their NAVs.
The prices of securities targeted for investment of the Funds will fluctuate under the influence of the aforementioned risks. Therefore, please note that the Funds themselves have these risks as well.
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 France Government Bond (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.