TOKYO -- The net assets of Nomura Asset Management's exchange-traded fund tracking the Nikkei Stock Average surpassed 2 trillion yen ($19.4 billion) on Thursday, the first time that a Japanese ETF has reached that mark.
The ETF market has been growing due to the popularity of the funds among individuals, institutional investors and others. The total net assets of Japan's 119 domestic ETFs reached an all-time high of 8.78 trillion yen on May.
Nomura Asset Management's Nikkei 225 ETF became the largest investment trust in Japan when it surpassed Kokusai Asset Management's Global Sovereign Open fund last June. As of Thursday, the Nomura ETF had 2.01 trillion yen in net assets.