The Association's "Rules on the Management of Investment Trusts, etc." do not allow a management company to enter into or continue derivative transactions when a certain amount exceeds the net assets of the trust property. The company calculates that amount, by a method it sets in advance, as the amount corresponding to the risks1. For foreign exchange forwards of an investment trust whose trust deed limits them to hedging purposes, the rules and their detailed regulations also set limits1.

The Association was established in July 1957 as the Securities Investment Trusts Association, an incorporated association, and was renamed the Investment Trusts Association in November 2000. It became an authorized financial instruments firms association under the Financial Instruments and Exchange Act in September 2007 and moved to a general incorporated association in July 20122. The Investment Management Association of Japan, which started on April 1, 2026 through the merger with the Japan Investment Advisers Association, is its successor3.

Notes

  1. The Investment Trusts Association, Japan, "Rules on the Management of Investment Trusts, etc." (the version revised on September 19, 2024; checked on October 13, 2026), Article 17 (PDF pages 14 to 15; investment limits on derivative transactions, etc.) and Article 16 (page 14; foreign exchange forwards for hedging). ↩ ↩2

  2. Investment Management Association of Japan, "History" (checked on October 13, 2026), the timeline entries in the column of the former Investment Trusts Association (July 1957, November 2000, and July 2012) and the entry shared by both associations (September 2007). ↩

  3. Investment Management Association of Japan, "Overview" (checked on October 13, 2026), the start date and the merger, and its status as an authorized financial instruments firms association under Article 78 of the Financial Instruments and Exchange Act. The English name is from the association's English page. ↩