State Street Global Advisors has registered a US-listed exchange-traded fund (ETF) that invests in the communications services sector for sale in Japan.
The ETF tracks a recently established index that was created when the existing telecommunications services sector was expanded to include selected companies from the IT and consumer discretionary sectors.
“State Street Global Advisors always seeks to provide investors with the tools necessary to implement sector views across the entire GICS framework,” said David Collins, head of ETFs at State Street Global Advisors Japan, in reference to the Global Industry Classification Standard developed by index compilers MSCI and S&P Dow Jones Indices.
Collins said the new ETF, the Communication Services Select Sector SPDR Fund, would track companies representing roughly a tenth of the S&P 500 index in terms of market capitalisation.
The product is the 51st ETF listed by State Street Global Advisors in Japan.
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