BEDMINSTER, N.J., July 13, 2011 /PRNewswire/ -- Precidian Funds
LLC, a wholly owned subsidiary of Precidian Investments LLC, today
announced the launch of the first U.S. exchange traded fund based
on the Nikkei 225, the world's best known and most widely used
index of Japanese equities.
The MAXIS(SM) Nikkei 225 Index Fund began trading today on NYSE
Arca, NYSE Euronext's all electronic U.S. market, under the ticker
symbol "NKY."
"Starting today and for the first time, U.S. investors can
access the leading benchmark of Japanese stocks with a single,
liquid, low cost ETF," said Daniel J.
McCabe, Chief Executive Officer of Precidian Funds. "We are
honored to have been chosen by Mitsubishi UFJ Asset Management as
the exclusive provider of the Nikkei 225 to U.S. investors," McCabe
said.
The MAXIS Nikkei 225 Index ETF 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.
"The MAXIS Nikkei 225 Index Fund ETF complements existing Nikkei
futures to provide a more complete array of trading, investing and
risk management tools," said J. Stuart
Thomas, Principal at Precidian.
Precidian Funds LLC serves as Adviser, Northern Trust as
Sub-adviser, JP Morgan Chase as Administrator and Custodian, and
Foreside Fund Service LLC as Distributor.
Japan is the world's third
largest economy with total GDP of $5.5
trillion in 2010 and exports of $765
billion. Japan is the third
largest exporter to the United
States, and its fourth largest trading partner overall. The
Nikkei 225 Index represents all of Japan's major business sectors and includes
some of the world's most competitive and technologically advanced
corporations, including NEC, Ricoh, Hitachi, Softbank and Kyocera;
auto industry giants Toyota, Honda, Nissan, and Mitsubishi Motors;
and electronics leaders such as Sony, Sharp, Canon, and Fujitsu.
Globally, it is estimated that over $80
billion is benchmarked to the Nikkei 225 as of first half
2011.
About Precidian Funds
Precidian Funds, a wholly owned subsidiary of Precidian
Investments LLC, is a leader in the creation of innovative, next
generation financial products, specializing in Exchange Traded
Products (ETP) including active, commodity, currency, fixed-income
and managed distribution ETPs. The principals of Precidian provided
the intellectual capital for and were instrumental in the
development of the groundbreaking gold ETF, SPDR™ Gold Shares, and
developed the world's first platform of currency-backed ETFs,
CurrencyShares in partnership with Rydex SGI.
Please go to www.precidianfunds.com for a copy of the prospectus
or call 1 855.621.0930.
Investing involves risk and can include loss of principal.
Additionally, investments in international securities may involve
risk of capital loss from unfavorable movements in currency
valuation, differences in generally accepted accounting principles
and from geopolitical and risks specific to a particular region or
country. Securities focusing on a single country may experience
higher volatility.
MAXIS(SM) is a registered service mark of Mitsubishi UFJ
Asset Management Co., Ltd. The Nikkei Stock Average is the
intellectual property of Nikkei Inc. Nikkei Inc. reserves all the
rights to the index. The Maxis Nikkei 225 Index Fund is not in any
way sponsored, endorsed or promoted by Nikkei. Nikkei does not make
any warranty or representation regarding the Fund. One cannot
invest directly in an index.
Carefully consider the investment objectives, associated risk
factors, fund expenses, and transaction costs before investing in
the MAXIS Nikkei 225 ETF. Read the prospectus carefully before you
invest.
The prospectus is not an offer to sell these securities and
is not soliciting an offer to buy these securities in any state
where the offer or sale is not permitted.
SOURCE Precidian Funds LLC