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Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust, today announced the launch of a new NETS™ ETF product, NETS™ TOPIX ETF (Symbol: TYI), that will track the TOPIX on NYSE Arca. NETS™, or Northern Exchange Traded Shares, are designed to support international allocations through exposure to some of the world's best recognized international equities indexes, via shares traded on U.S. exchanges.
Tomoyoshi Uranishi, Senior Executive Officer of Tokyo Stock Exchange, Inc. commented "The TSE is delighted with the New York Stock Exchange's listing of an Exchange Traded Fund based on the TOPIX, a representative index of Japanese stocks. This ETF enhances convenience for US investors by increasing the number of tools for investing in Japanese stocks at their disposal, and through this listing, we anticipate that US investors' interest in Japanese stocks will increase even further."
Today's listings include the first three ETFs to offer exposure to major foreign indexes, granting investors direct access to international equity securities," said Senior Vice President, Exchange Traded Funds and Indexes, Lisa Dallmer. "We are pleased to have the first of these Northern Exchange Traded Shares™ products join the NYSE Arca roster and welcome this next generation of ETFs to NYSE Euronext."
Peter K. Ewing, head of NTGI's ETF business, said "We're excited about entering this rapidly growing market with a very compelling product line. Prior to the NETS™ launch, U.S. investors were unable to gain ETF-based exposure to some of the world's most widely accepted international benchmarks. These benchmarks have vast quantities of investment capital tied to their performance. Now, investors in the U.S. can access them here, too."
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.)
