Japan’s ‘Golden Week’ – closure of Japanese stock markets from 29 April - 6 May 2019

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From Monday 29 April 2019 to Monday 6 May 2019, Japan will be celebrating ‘Golden Week’ - a collection of four national holidays coinciding with the abdication of Japan’s current Emperor and the ascension to the throne of a new Emperor.

The result of this is in an unprecedented, consecutive 10-day public holiday, during which equity and bond markets, as well as banks and brokerages will close.

This means the Tokyo Stock Exchange (JPX) will be closed for trading on the following dates:

  • Monday 29 April
  • Tuesday 30 April
  • Wednesday 1 May
  • Thursday 2 May
  • Friday 3 May
  • Monday 6 May

Trading in Japanese equities (shares) and bonds will re-open on Tuesday 7 May.

How this affects Aegon investors

For non-insured funds available via Aegon Retirement Choices (ARC) and the Aegon Platform

As weekends and bank/public holidays are not regarded as working days, there is no trading on these days. This means investors in funds that have a large proportion of underlying Japanese assets, equity or bond, will not be able to buy, sell, switch or access their investment over this period.

For Aegon insured pension and life funds

Investors will be able to buy, sell, switch and access their investment as usual. Whilst the Tokyo Stock Exchange (JPX) is closed, fair value price adjustments may be applied to the affected funds. A fair value price adjustment aims to make sure a fund is valued at a level consistent with prices that could be achieved in normal conditions. This will be in effect until Tuesday 7 May, when the Tokyo Stock Exchange (JPX) re-opens.

For more information please refer to your fund’s fact sheet for Aegon insured pension and life funds, or Key Investor Information document (KIID) for non-insured funds available via ARC or the Aegon Platform. Alternatively, you can speak to your financial adviser. If you don’t have one, you can find one in your area at unbiased.co.uk.