Sony Bank and Sony Bank Securities Start Handling ETFs and REITs
January 21, 2008
From January 28, 2008, Sony Bank Inc., an 88% owned subsidiary of Sony Financial Holdings, began handing transactions in exchange traded funds (ETFs) and real estate investment trusts (REITs) through its wholly owned subsidiary, Sony Bank Securities Inc.
Customers holding brokerage accounts with Sony Bank Securities can order these products on the Sony Bank service site, MONEYKit, through a "Financial Products Intermediary Services with Sony Bank Securities" screen. Brokerage fees are set at a reasonable 0.105% (consumption tax included, minimum fee ¥840) to encourage online trading.
Sony Bank Securities is a dedicated on-line securities company for Sony Bank account holders, providing medium- to long-term marketable securities management services on its MONEYKit site. This addition extends the lineup of products handled by Sony Bank Securities to Japanese stocks listed on the main domestic markets, ETFs and REITs.
In the future, Sony Bank and Sony Bank Securities aim to reinforce their portfolio of marketable securities on MONEYKit—a "money toolbox"—to meet the broad-ranging asset management needs of individual customers.
- About ETFs
Exchange traded funds are investment trusts that track specific share index, bond index, commodity price (including commodity index) and other indices. They are listed and bought and sold on exchanges in the same way as shares. - About REITs
With real estate investment trusts, investor capital is placed in commercial and other real estate and managed to return income from rents, resale of properties and other transactions to investors. REITs are listed and bought and sold on exchanges in the same way as shares.
Note: This is an English-language summary of a Japanese announcement made by Sony Bank and Sony Bank Securities on January 21, 2008. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
