(PRWEB) September 1, 2010
Next ETFs LLC, a wholly-owned subsidiary of Next Investments, announced its intention to sponsor a new series of ETFs and filed, through its counsel Katten Muchin Rosenman LLP, an application with the SEC for exemptive relief under the 1940 Act earlier today. Next ETFs LLC intends that its first fund will be based on the Nikkei 225 Index, the foremost Japanese equity benchmark, comprising 225 liquid stocks in the 1st section of the Tokyo Stock Exchange. This index has been recognized around the globe as the premier index of Japanese stocks for the last 60 years.
Next Investments, through an arrangement with Mitsubishi UFJ Asset Management Co., Ltd., has been granted an exclusive license to establish the only U.S. Nikkei 225 ETF. A copy of the application can be found on http://www.nextinvestments.com.
About Next Investments:
Next Investments is an industry leader in the creation of innovative financial products, specializing in exchange-traded funds (ETFs), exchange-traded products (ETPs), mutual fund development, and associated trading and pricing technologies. Principals of Next Investments provided the intellectual capital and execution in the development of the first physical U.S. commodity exchange-traded product, SPDR Gold Shares and developed the world’s first family of currency-backed ETFs (http://www.CurrencyShares.com ) in conjunction with Rydex Investments and JP Morgan.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.