Nomura Launches Global Memory ETF on Tokyo Stock Exchange

Nomura Asset Management has launched the NEXT FUNDS Solactive Global Memory Index Exchange Traded Fund on the Tokyo Stock Exchange, expanding its NEXT FUNDS lineup to 76 ETFs. The fund, trading under code 639A, tracks the Solactive Global Memory Index and carries an annual management fee of up to 0.605%, including tax. The index targets companies active in the memory industry across developed markets, including South Korea and Taiwan. Constituents must derive the majority of their revenue from areas such as memory devices and storage systems. It holds the 20 largest eligible companies by market capitalization, with each constituent capped at 25%.