The MAXIS Nikkei 225 Index Fund has been selected to fill the Japan stock category on the Schwab ETF Select List for the second quarter of 2013.
The MAXIS Nikkei 225 Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Japanese market, as measured by the Nikkei 225 Index.
“We are excited that Charles Schwab chose to add the MAXIS Nikkei 225 Index Fund to their ETF Select List,” says Dan McCabe, chief executive officer of Precidian Funds. “Given that Japan is the third-largest economy as measured by GDP, many US investors are looking for ways to gain exposure to Japan so helping them find a cost-effective way to get access to Japan via such a well-recognised global equity benchmark makes sense.”
The MAXIS Nikkei 225 Index ETF, the only US-listed ETF to provide access to the Nikkei 225, began trading on 13 July 2011 on NYSE Arca and has an annual expense ratio of 50 basis points. Precidian Funds serves as adviser, Northern Trust as sub-adviser, JP Morgan Chase as administrator and custodian, and Foreside Fund Service as distributor.