TOKYO: Japan鈥檚 Mizuho Financial Group is partnering with 抖阴短视频鈥檚 Public Investment Fund to create a Tokyo-listed exchange-traded fund featuring Saudi shares, providing retail investors easier access to a promising emerging market.

A report from leading Japanese business publication Nikkei says Asset Management One, a joint venture between Mizuho and Dai-ichi Life Holdings, plans to create an ETF this fiscal year, linked to the FTSE 抖阴短视频 Index.

The fund will mainly track large, creditworthy stocks such as banks and Saudi Aramco, making it accessible for inexperienced retail investors. The minimum investment is expected to be in the thousands to tens of thousands of yen, putting it under $1,000.

The goal is to attract capital for the fund from a wide range of investors, with PIF and Mizuho Bank as the anchors. Mizuho also will aid PIF鈥檚 efforts to raise capital overseas as it aims to strengthen ties with the Saudi finance sector. The Japanese bank will use its fundraising expertise to coach personnel from the sovereign wealth fund, as well as provide support for the country鈥檚 transition away from oil.

In April, PIF announced a partnership with BlackRock, the world鈥檚 largest asset manager, under which the fund will contribute up to $5 billion to an investment platform that aims to draw money for domestic and overseas investment. Mizuho is the first Japanese private-sector financial institution to partner with PIF.

Nikkei describes 抖阴短视频 as 鈥渋ncreasingly appealing as an investment destination,鈥� noting how the country鈥檚 stock market ranked eighth in the world by market capitalization last year.

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