Rakuten Securities has broadened access to platinum investment in Japan with the launch of its Rakuten Platinum Fund. The new fund marks a significant development in Japan’s precious metals investment landscape, offering a convenient and tax efficient vehicle for investors seeking exposure to the platinum market.
Structurally, the fund follows an additional type investment trust format and adopts a fund of funds approach. Rather than directly holding physical platinum, it invests indirectly via a master fund that allocates to leading physical platinum backed listed exchange traded funds (ETFs), including well established products such as the Aberdeen Standard Physical Platinum Shares ETF (PPLT) and the iShares Physical Platinum ETC (iPLT). This framework aims to capture returns based on the price performance of platinum while avoiding logistical requirements associated with directly owning physical metal.
The fund operates without foreign exchange hedging as a default position, giving investors direct exposure to yen denominated movements in global platinum prices. With no fixed investment term and a trust capital ceiling of 100 billion yen (minimum threshold is 1 billion yen) it allows daily subscriptions and redemptions.
A major highlight — and one poised to drive strong retail interest — is the fund’s eligibility for inclusion in a Nippon Individual Savings Account (NISA). Modelled on the UK’s Individual Savings Account (ISA), qualifying investors can enjoy tax exemption for an unlimited period on dividends and capital gains, subject to the scheme’s investment limits. This makes the Rakuten Platinum Fund an attractive new option for individuals seeking tax advantaged exposure to precious metals.
In 2025, holdings in platinum ETFs globally increased by a net 234 koz (chart for illustrative purposes only)
Rising interest
The timing of this launch is notable, as it comes when investor interest in commodities is rising globally. The new investment trust product fills a gap in Japan’s specialised precious metals investment market, and is expected to act as a positive catalyst for other Japanese securities firms, potentially inspiring more players to roll out similar platinum and other precious metals-themed funds, enriching the country’s investment product ecosystem.
In 2025, holdings in platinum ETFs globally increased by a net 234 koz, driven by positive sentiment following the platinum price breakout, robust underlying fundamentals, and platinum’s sustained discount to gold.
