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JASDEC Announced the Revision of Fee Schedule for ETFs |
October 28, 2002
JASDEC started to provide the depository services for the Exchange Traded Funds (ETFs) pegged with TOPIX and the Nikkei Stock Price Average in July 2001, and currently keeps the net assets of 2 trillion yen, representing 18 issues at the end of September 2002. In order to reduce the cost on the participants and to further activate the market, JASDEC determined to reduce the fees applicable to ETFs as follows.
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1. |
Reduction of Basic Fees:
The basic fee for deposits and book-entry transfers is reduced by 50%, from 6.0 yen per unit to 3.0 yen and 5.0 yen to 2.5 yen per unit, respectively. |
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2. |
Change of Declining Fee Schedule for Large Volumes:
Declining fee schedule applied for large volumes on deposits, book-entry transfers and custody will become applicable to more than 50,000 units, from more than 500,000 units, reduced by 90%. |
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3. |
Unification of Fee Schedule:
JASDEC unified fee schedule for Nikkei 300 Index Fund and ETFs', and established as the fee schedule for Stock Price Index Fund. |
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4. |
Effective Date:
The revised fee schedule becomes effective on October 25, 2002, and applicable to the fees from October 1, 2002. |
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5. |
Fee Schedule for Stock Price Index Fund as of October 25, 2002:
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Type of Fee |
Number of units |
Yen per unit |
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Deposit (per day) |
Up to 50 thousand
50 to 100 thousand
100 to 200 thousand
200 to 300 thousand
Over 300 thousand |
3.0
1.0
0.5
0.25
0.125 |
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Book-entry transfer (per day) |
(1) up to 50 thousand
(2) 50 to 150 thousand
(3) 150 to 300 thousand
(4) 300 to 500 thousand
(5) 500 to 700 thousand
(6) 700 to 1 million
(7) 1 to 2 million
(8) over 2 million |
2.5
75% of (1)
65% of (1)
55% of (1)
45% of (1)
35% of (1)
25% of (1)
15% of (1) |
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Transfer between sub-accounts of the same participant |
1.25 |
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Transfer to/from stock exchange accounts |
5.0 |
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Custody (per day) |
(1) up to 50 thousand
(2) 50 to 150 thousand
(3) 150 to 300 thousand
(4) 300 to 500 thousand
(5) 500 to 700 thousand
(6) 700 to 1 million
(7) 1 to 2 million
(8) 2 to 3 million
(9) over 3 million |
0.07
70% of (1)
60% of (1)
50% of (1)
40% of (1)
30% of (1)
20% of (1)
10% of (1)
5% of (1) |
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