The latest in funds and investments across Asia-Pacific.

State Street Global Advisors (Japan) has registered an exchange traded fund for sale in Japan that taps into the communications services sector. 

The ETF is called the Communication Services Select Sector SPDR Fund, and is listed on the New York Stock Exchange.

The move means that SSGA, part of US-based State Street, has 51 ETFs registered for sale in Japan.

“The launch of XLC allows our clients immediate access to this new investment opportunity that will represent roughly 10 per cent of the S&P 500 Index in terms of market capitalization,” David Collins, head of ETFs at State Street Global Advisors Japan, said. 

The fund provides exposure to the new Communication Services sector, unveiled by S&P Dow Jones Indices and MSCI, following the annual review of the Global Industry Classification Standard (GICS) structure in November 2017. The reclassification of the GICS structure expands the old telecommunications services sector so that it includes some firms from the information technology and consumer discretionary sectors. The new classification became effective last Friday.