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IndexIQ Adam Patti

IndexIQ launches first ETF focused on mid-cap Japanese equities


IndexIQ, a provider of index-based commodity, international, and liquid alternative investment solutions, has launched the IQ Japan Mid Cap ETF (Ticker: RSUN) on the NYSE Arca platform.

RSUN is the first Exchange-Traded Fund (ETF) dedicated to providing access to Japan’s mid-cap stock sector, where many of the country’s most successful companies can be found, including the Industrial, Financial and Technology sectors. Those sectors made up 23.16 per cent, 17.69 per cent, and 9.08 per cent, respectively, of the fund’s underlying index as of May 16, 2011.

RSUN seeks to replicate, before fees and expenses, the performance of the IQ Japan Mid Cap Index (IQMDJPN), a float-adjusted market cap-weighted index that is intended to track the overall performance of the mid-cap sector of publicly traded companies domiciled and primarily listed on an exchange in Japan. As in the US, the Japanese mid-cap sector is comprised in part of companies that combine the attractive growth characteristics of small cap companies with the size and financial stability of larger cap companies. RSUN is intended to provide pure-play exposure to this sector either as a standalone vehicle or in combination with small- and large-cap Japanese ETF offerings to create a broad-based portfolio.

“Japan has seen more than its share of tragedy this year, yet the country is remarkably resilient with a strong global economic base supported domestically by many leading small- and mid-cap companies,” says Adam Patti, CEO of IndexIQ. “To date, there has been no way for individuals in the U.S. to get focused exposure to the potential of these mid-sized companies. RSUN allows investors to isolate and access this sector of the Japanese economy in a low cost, highly liquid, tax efficient way.”

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