Daiwa Warns a Thinly Traded ETF Traded Below NAV for a Week, Peaking Near 10%
Daiwa Asset Management says its iFreeETF MSCI Japan Human and Physical Investment Index fund (ticker 1479) closed as much as 10.2% below net asset value for seven straight sessions in August, blaming low trading volume for a broken arbitrage link and warning further gaps could recur.