ETF investors miss out on yen performance

European investors may have chosen the wrong Japan ETF last week, as they flocked into euro and GBP denominated funds. While the Nikkei rallied towards the end of the week, the yen depreciated, meaning yen-based funds performed better relative to their cross listings in other currencies. However, the majority of investors buying into iShares MSCI Japan - the week's most traded ETF with LSPE helping creations of $75m - failed to capitalise on this benefit. Meanwhile, the iShares Nikkei 225 DE and Lyxor's Japan Topix were the second most traded ETFs on the primary market. Lyxor's fund a...