Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Online-views/  Investors throng Japan-focused ETFs, pour $2.3 bn in March
BackBack

Investors throng Japan-focused ETFs, pour $2.3 bn in March

Investors throng Japan-focused ETFs, pour $2.3 bn in March

Premium

Hong Kong: Japan-focused exchange traded funds (ETFs) attracted a net inflow of $2.3 billion in March, almost entirely from investors in the United States, according to data from global fund tracker Lipper.

The strong flows follow a trend set in mid-March, when Japan-focused ETFs received a record net inflow of $1.2 billion in the week ended 18 March, as investors scrambled to take advantage of a sharp fall in the country’s share market following the earthquake, tsunami and nuclear crisis.

The ETFs took in $700 million on March 16 alone, the biggest one-day inflow and twice the size of the previous record set in 2003, according to data from TrimTabs.

ETFs based in the United States received a net $2.5 billion in March, while those in Japan saw net outflows of $344 million. ETFs based in Luxembourg added $286 million, data from Lipper, a Thomson Reuters company, showed.

IShares MSCI Japan Index Fund attracted a net $1.88 billion, surging past Nomura Topix Linked Listed Investment to become the biggest Japan-dedicated ETF managing $7.4 billion at the end of March.

Assets under about 120 ETFs focused on Japan fell by $5.1 billion to $41.8 billion as the funds recorded an average 7.2 percent drop in net assetvalue after the massive earthquake and tsunami triggered a plunge inJapan’s benchmark Nikkei share index.

The month also saw the launch of three new Japan-focused ETFs, with two from Deutsche Bank AG after the March 11 earthquake, offering exposure to the JGB Futures Index.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 08 Apr 2011, 06:29 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App