STOXX has licensed the STOXX ASEAN-Five Select Dividend 50 Index to Nomura Asset Management to serve as the basis for a new exchange-traded note (ETN) now available on the Tokyo Stock Exchange.
This is the first time that the STOXX ASEAN-Five Select Dividend 50 Index, which selects the 50 highest dividend paying companies from five member states of the Association of Southeast Asian Nations (ASEAN), will be used as an underlying for an ETN.
“With the launch of the STOXX ASEAN-Five Select Dividend 50 Index, we were the first index provider to offer a dividend index concept for the ASEAN region,” says Hartmut Graf, chief executive officer, STOXX Limited. “Nomura’s new ETN will allow Japanese market participants access to this concept for the first time. This ETN is also the first exchange-traded product based on a STOXX index which is listed in Japan, and thus a further milestone for STOXX’s Asia expansion.”
Makoto Shiota, head of ETF marketing at Nomura Securities, says: “We are pleased to collaborate with STOXX’s index business. The STOXX ASEAN-Five Select Dividend 50 Index shows the growth powers of the attractive ASEAN five countries.”