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SBI Asset Management to Launch Zero-Trust-Fee Global Equity Fund for Kodomo NISA

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SBI Asset Management, a subsidiary of SBI Global Asset Management, announced on October 1 that it will launch the “SBI Zero All Country Index Fund” (nicknamed “Zero-Can”) on November 17, 2026. The fund is designed exclusively for the upcoming “Kodomo NISA” tax-exempt program scheduled to begin in January 2027.

The fund features a 0.00% annual trust fee (tax included), eliminating management fees for the investment management company, trustee, and distributor. While indirect expenses such as audit fees and trading transaction costs will still be deducted from fund assets, waiving the recurring management fee removes the primary holding cost for long-term youth investors.

Tailored for Minors Under the Kodomo NISA Framework

Japan’s Kodomo NISA program, taking effect in January 2027, targets minors aged 0 to 17. It permits an annual investment limit of 600,000 yen and a total tax-free ceiling of 6 million yen, with indefinite tax-free holding periods until assets roll into adult NISA accounts at age 18.

Key fund specifications include:

  • Target Benchmark: MSCI All Country World Index (with dividends, JPY basis)
  • Annual Trust Fee: 0.00% (tax included)
  • NISA Eligibility: Reserve Investment Quota (Tsumitate)
  • Sub-Adviser: State Street Global Advisors Co., Ltd.
  • Launch Date: November 17, 2026

While fund purchases cannot be made until the official rollout of Kodomo NISA in January 2027, SBI Securities will begin accepting account opening applications in October 2026.

Strengthening Alliance with State Street

Equity execution authority for the fund will be delegated to State Street Global Advisors, a prominent global asset manager overseeing 6.28 trillion USD (approximately 1,021 trillion JPY) worldwide. State Street pioneered exchange-traded funds by listing the SPDR S&P 500 ETF in 1993, which held roughly 818 billion USD in assets as of September 2026.

In May 2026, the SBI Group signed a basic agreement with State Street to establish a joint venture aimed at delivering low-cost index products in Japan. That same month, SBI Asset launched the SBI NASDAQ 100 Index Fund sub-advised by State Street, which crossed 100 billion yen in net assets within 63 business days. Zero-Can builds on this partnership by pairing SBI’s distribution reach with State Street’s indexing capability.

Standard Product for General Investors

For general adult retail investors, SBI Asset will also launch the “SBI All Country Index Fund” on November 17, 2026.

Investing in the same underlying mother fund as Zero-Can, it offers an annual trust fee of 0.055% (tax included), maintaining the lowest cost level among competing global equity mutual funds in Japan. It will support both the Growth and Reserve quotas of standard NISA, with an initial offering period running from October 19 through November 16, 2026.