KEY POINTSMitsubishi UFJ Asset Management launches a 2046-maturity ultra-long Japanese government bond fund on September 24, 2026Fund invests in Japanese government bonds with about 20 years remaining and generally holds them to redemptionProduct is eligible for NISA growth investment accounts and will be sold by Mitsubishi UFJ Morgan Stanley Securities
The fund starts on Sept. 24 and targets Japanese government bonds with about 20 years remaining, as higher domestic yields revive interest in bond investing. Photo by Johan Mouchet on Unsplash
Johan Mouchet
Mitsubishi UFJ Asset Management said on July 3 it will launch a new investment trust focused on ultra-long Japanese government bonds, with operations set to begin on September 24, 2026.
The fund, named the Ultra-Long-Term Japanese Government Bond Fund (Maturity 2046, Limited Additional Type), will invest in Japanese government bonds with about 20 years remaining to maturity and, in principle, hold them until redemption. The company said the structure is intended to make expected returns easier to gauge because bonds are redeemed at face value if held to maturity.
The fund aims to secure interest income through long-term investment while also seeking capital gains over the medium to long term. Mitsubishi UFJ Asset Management said investing in Japanese government bonds, which have high credit quality, could allow investors to benefit from domestic interest-rate levels at redemption without exposure to currency fluctuations, although the fund will be affected by interest-rate moves during the investment period.
The company linked the launch to Japan’s shift back to a world with interest rates as the Bank of Japan moves from prolonged monetary easing toward policy normalization. In that environment, interest in government bonds as an investment target has been rising as yields increase, while ultra-long Japanese government bonds with longer remaining maturities have been offering relatively high yields, the company said.
The product is eligible for the growth investment quota under NISA, Japan’s tax-advantaged investment program for individuals, although availability may vary by distributor. Sales will be handled by Mitsubishi UFJ Morgan Stanley Securities. Mitsubishi UFJ Trust and Banking will serve as trustee, with custody re-entrusted to Japan Master Trust Bank.
Mitsubishi UFJ Asset Management submitted a securities registration statement for the fund to the Kanto Local Finance Bureau on July 3. The company said the filing has not yet become effective and that the contents of the materials may be revised before the registration takes effect.
Japan’s retail investment market has drawn renewed attention to bond products as domestic yields have risen from the extremely low levels that prevailed during years of aggressive monetary easing. NISA, a tax-exempt investment scheme expanded in 2024, has been a central channel for promoting household investment in funds and securities.
AloJapan.com