ETF of large-scale REIT will be generated from Nomura at last. This that sells this amount with the generation of ETF and puts the hedge without fail is a mechanism that the position of the hedge vanishes because it buys back futures by this amount at the same time as ETF's selling to evade the value fall risk when the ETF sale side generates ETF in case of the ETF generation as for REIT futures. The ETF generation brokerage firm can get the commission and the trust charge of ETF by a no risk by doing so in a little cost.
Because REIT futures are always sold, REIT shows the tendency to drop the price t hough REIT is bought for the ETF generation as for generation. REIT futures were in the state of the back spread always sales to the REIT index it. The current state that also pierces cheap further in Fanda also by a cheap brand and becomes a cheap sphere happens because REIT drops compulsorily the price in arbitrage with futures. After ETF is listed, it becomes only speculation pressure for ETF only it is to buy back futures to the extent that ETF sells.
Tokyo Stock Exchange..generate..hedge..sell..futures..always..back spread..infinity..lower..very..cheap..brand..a lot..appear..Nikkei. It is the same as details that are gradually canceled the decision sales with the ETF listing and arrived now.
If REIT is watched, is quite the same phenomenon REIT futures as six years ago generated and is the cheap, tabby pulling out brand (the dividend yield 12% and 11%) never generated in an excellent brand in the state of the back spread ETF of REIT is to generate it by Nomura this time?
+150 million later two years even scales of ETF including the distribution though it is a division about 70 million at present + .... yen. buy a large amount of cheap, tabby pulling out brands the strategy laid down for a while200 million yen is expected.
However, because REIT of Japan structurally has the problem compared with United States REIT, the guy who buys REIT by high price can say a free wallet.