The Bank of Japan has announced changes to its ETF buying programme following concerns that the purchases were having an outsized effect on some stock prices. Whilst the central bank remains committed to buying ¥5.7 trillion ($51 billion) worth of domestically listed Japanese equity ETFs annually, it has re-weighted the allocations to each tranche of ETF purchases and introduced a degree of flexibility.

NEX Data, an analytics and index provider, has partnered with JBOND, an electronic platform for trading Japanese Repurchase agreements, to create the JBOND NEX Repo Index. The index measures the effective cost of funding for Japanese government bonds.

Nikko Asset Management is set to list a new ETF on Tokyo Stock Exchange that will provide exposure to the S&P 500 Index while hedging currency exposure between the yen and the US dollar.

WisdomTree has announced the launch of the WisdomTree Japan SmallCap Dividend UCITS ETF on London Stock Exchange. The fund tracks a proprietary index focused on dividend-paying small-cap stocks listed in Japan. Rafi Aviav, WisdomTree Head of Product Development in Europe, said the ETF “taps into the Japanese domestic economy while offering exposure to the size and value factors, which have been the clear winners from a factor perspective in Japan in the past decade.”

DWS has cross-listed four Xtrackers-branded ETFs onto SIX Swiss Exchange. Each fund provides exposure to equities of firms with high environmental, social and governance (ESG) ratings, as well as small current and expected future carbon footprints. The ETFs, which target large- and mid-cap stocks in Japan, the US, Europe and globally, harness sustainability ratings from index provider MSCI.

JP Morgan has launched two new ETFs on Cboe BZX that are part of the firm’s ‘BetaBuilders’ range of funds – low cost, passively managed ETFs marketed as portfolio ‘building blocks’.a

Nomura Asset Management has launched the NEXT FUNDS MSCI Japan Empowering Women Select Index ETF (2518 JP). Listed on the Tokyo Stock Exchange, the fund provides exposure to high quality Japanese companies that exhibit a commitment towards promoting and maintaining a high level of gender diversity among their workforce.

DWS has launched four new Xtrackers-branded ETFs, providing exposure to equities of firms with high environmental, social and governance (ESG) ratings, as well as small current and expected future carbon footprints. The funds, which target large- and mid-cap stocks in Japan, the US, Europe and globally, harness sustainability ratings from index provider MSCI.

To hedge, or not to hedge, that is the question faced by portfolio managers with global investment mandates. While institutional investors may have the luxury of delegating this question to a dedicated fx overlay manager, for others it has the potential to cause sleepless nights. One thing is for sure, the performance differences between being hedged or unhedged can be stark, as demonstrated by the returns of Euro Stoxx 50 equity ETFs over the past month.

The number of ETFs and ETPs listed on London Stock Exchange rose significantly in March, with 27 new ETFs and 76 ETPs added during the month. New listings on the exchange were provided by VanEck, UBS, Societe Generale, BlackRock, Lyxor and Deutsche Asset Management.