Midas Asset Management Launches MIDAS Japan Tech Active ETF Using the Solactive Japan Tech Top 30 Index as a Benchmark
Solactive is pleased to collaborate with Midas Asset Management for the first time. MIDAS Japan Tech Active ETF will be using the Solactive Japan Tech Top 30 Index as a benchmark, which aims to offer investors with exposure to leading Japanese technology companies.
Japanese tech companies, renowned for their persistent innovation and production of high-quality products, show constant growth driven by a strong focus on research and development that ensures ongoing competitiveness. The Japanese government actively supports this sector through various policies and initiatives designed to foster market growth, which includes building technology centers and funding the local tech companies.[1] [2]The synergy between the top tech companies and Japan’s supportive regulatory and economic environment is expected to foster continuous innovation. Additionally, these reputable companies have established a strong global presence and forged international partnerships, given their technical niches in the respective segments, which further diversify their revenue.
The Solactive Japan Tech Top 30 Index first defines the relevant universe through a granular industry classification framework, then utilizes Solactive’s proprietary natural language processing system ARTIS® to identify and select the top 30 Japanese companies in the technology sector that meet liquidity and free-float market capitalization criteria, including semiconductors equipment and manufacturing, electronics and IT hardware, automation and control systems, and computer optics and imaging. It provides a robust representation of the diverse tech industry in Japan, from foundational infrastructure-related hardware to advanced computer optics.
The ETF listed on 6th August 2024 on the Korea Stock Exchange with the ticker code “488290.KS”.
Timo Pfeiffer, Chief Markets Officer at Solactive, comments: “We are delighted to announce our inaugural collaboration with Midas Asset Management, embarking on this new partnership to provide Korean investors with strategic access to capitalize on the immense potential of the Japanese technology sector. As an index provider, Solactive is dedicated to consistently delivering a comprehensive suite of products and services to help our clients navigate the dynamic global markets.”
Chunju Lee, Managing Director of Equity Division in Midas Asset Management comments: “We are delighted to launch MIDAS Japan Tech Active ETF developed in collaboration with Solactive. This product specifically aims to invest in top 30 Japanese tech companies that will benefit from technological innovation and industrial development, and share in the future growth potential of the Japanese tech industry. We look forward to launching more products that will be of great benefit to investors for good investment opportunities in the market.”
[1] Japanese government backs semiconductor research group with $300m investment
[2] Japan Making Major Investments in its Semiconductor Industry