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TOKYO - September 8, 2008 - Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust Bank, today announced the launch of the first dedicated ETF to be based on the Tokyo Stock Exchange REIT Index. NETS Tokyo Stock Exchange REIT Index Fund (Japan) commenced trading on the NYSE Arca Exchange today under the ticker symbol JRE, granting U.S. investors the opportunity to invest in the Japanese real estate market via an ETF.
NETS, or Northern Exchange Traded Shares, are designed to provide ETF-based exposure to important markets around the world using the world's best recognized benchmarks. The REIT index is composed of all REITs listed on the Tokyo Stock Exchange, which is the largest J-REIT market in Japan.
Tomoyoshi Uranishi, Senior Executive Officer of the Tokyo Stock Exchange, Inc., said: "Following the listing of an Exchange Traded Fund based on the TOPIX this April, the TSE is delighted with the NYSE Arca's listing of an Exchange Traded Fund based on the Tokyo Stock Exchange REIT Index. The REIT index is composed of all REITs listed on the TSE, which is the largest J-REIT market in Japan. This ETF enhances convenience for non-Japanese investors by increasing the number of tools for investing in Japanese real estate at their disposal. We anticipate that the cross-border flow of capital between Japan and the rest of the world will be enhanced even further, through this listing."
Peter K. Ewing, head of NTGI's ETF business, said: "This latest launch extends the NETS product line to include a key benchmark for another important asset class. Japanese real estate represents over 10% of investment opportunities in the global real estate market."
Lisa M. Dallmer, SVP, Global Index and Exchange Traded Products, NYSE Euronext said: "We welcome NETS Tokyo Stock Exchange REIT Index Fund to NYSE Arca. As the world's leading, most international exchange group listing NETS funds, offering our venue to NETS and the NETS product strategy brings investors another opportunity to look beyond home-country bias and extend their portfolio to international investing."
NETS, like many other ETFs, offer certain advantages over mutual funds, including lower expense ratios, higher liquidity (in the form of intraday trading and pricing), reduced portfolio turnover and the ability to sell ETF shares short. NETS, which are available to both institutional and individual investors alike, may be purchased via U.S. brokerage accounts and through registered investment advisors (RIAs). (ETFs are subject to trading expenses which may affect the expense benefits depending on the frequency of trades.)
For more information:
NETS
Before investing you should carefully consider the NETS Funds' investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Funds' website. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, distributor.
An investment in NETS Funds is subject to investment risk, including the possible loss of principal amount invested. Fund returns may not match the return of their respective index, known as non-correlation risk, due to operating expenses incurred by each Fund and other factors. NETS Funds may invest in foreign or emerging market securities, which involve certain risks and increased volatility not associated with investing solely in U.S. securities. These risks include currency fluctuations, economic or financial instability, and lack of timely or reliable financial information. NETS Funds may also invest in small- and medium-sized companies, which involves greater risk than is customarily associated with investing in more established companies. NETS Funds are non-diversified, which means that each Fund may invest most of its assets in securities issued by or representing a small number of companies. Please refer to the prospectus for a complete description of the Funds' risks.
Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in any index. There are risks involved in investing including possible loss of principal. There is no guarantee that the investment objectives of any fund or strategy will be met. Risk controls and models do not promise any level of performance or guarantee against loss of principal. One cannot invest directly in an index or average.
Northern Trust Global Investments comprises Northern Trust Investments, N.A., Northern Trust Global Investments Ltd., Northern Trust Global Investments Japan, K.K., the investment adviser division of The Northern Trust Company and Northern Trust Global Advisors, Inc. and its subsidiaries to offer investment products and services to personal and institutional markets.
Tokyo Stock Exchange, Inc. (TSE) is one of the leading global exchanges and the largest securities market in the Asia-Pacific region. The TSE is best known for its massive equities market, valued at $ 3.72 trillion as of the end of August 2008 and it also boasts the largest market for Japanese securities derivatives such as TOPIX futures and TOPIX options. Beyond its dynamic market, TSE is home to the development and publishing of Japan's most comprehensive family of indices. TOPIX (Tokyo Stock Price Index), the principal index consisting of all Japanese common stocks listed on the TSE First Section, is widely used as a benchmark for the Japanese stock market. For more information on Tokyo Stock Exchange, Inc., please visit the following website:
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe and the Asia-Pacific region. As of June 30, 2008, Northern Trust had assets under custody of US$4.0 trillion, and assets under investment management of US$751 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, please visit the following website:
(NTGI) is the trading name for the asset management activities of the entities that belong to the Northern Trust Corporation, a holding company based in Chicago. NTGI offers a full array of active, passive and enhanced products, as well as manager-of-managers programs for alternative and long-only investments. NTGI comprises The Northern Trust Company, Northern Trust Investments, N.A., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., and Northern Trust Global Advisors, Inc. and its subsidiaries. NTGIL and NTGAL are United Kingdom entities which are authorized and regulated in the United Kingdom by the Financial Services Authority.
The Northern Trust Company is the principal subsidiary of Northern Trust Corporation (NASDAQ: NTRS).
Northern Trust Global Investments
NYSE Euronext (NYX) operates the world's leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit the following website:
Investor Inquires:
Northern Trust
Tel: 866-928-NETS
E-mail: netsetfs@ntrs.com
Press Inquiries:
Marisha Mistry
Edelman for Northern Trust
Tel: 212-704-4592
E-mail: Marisha.mistry@edelman.com
Tokyo Stock Exchange, Inc.
Information Services, Index Group
Tel: +81(3)3666-0141
E-mail: index@tse.or.jp