An ETF issuer to list new ETF on TWSE

Polaris MSCI Taiwan ETF, issued by Polaris International Securities Investment Trust Co., will be listed on the Taiwan Stock Exchange Corp. (TWSE) on May 12..

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    It will be Polaris’s ninth ETF listed on the TWSE and the 16th ETF listed on the TWSE. This also would be the first time that two ETFs tracking the same index in Taiwan ETF market.

    The underlying index of Polaris MSCI Taiwan ETF is the MSCI Taiwan Index, which is compiled and calculated by MSCI.  The index constituents are selected by following minimum size requirement, minimum free float-adjusted market capitalization requirement to represent the performance of Taiwan Market.  The MSCI Taiwan Index covers across 25 sub-sectors (Including 7 electronics sub-sector) and 77.9% of the TAIEX Cap-Weighting.

    TWSE President Samuel Hsu predicted that from this year on, the local ETF market will begin to boom.  As of late April this year, the value of the ETF market assets hit NT$86.2 billion, up 3.7 percent from late last year.

    Also as of the end of April, the total value of transactions in the ETF market reached NT$99.4 billion, up 49 percent from last year on an annualized basis.

    Hsu observed that a higher number of investors have begun using ETFs as an investment tool.  He added that there will be more ETFs to be listed on the TWSE.

    The other listed ETF that tracks MSCI Taiwan Index is Fubon MSCI Taiwan ETF, which is listed on 2008/2/27.  With the competition and cooperation of the top two securities investment trust companies in Taiwan, the ETF market liquidity should be improved.

    Polaris MSCI Taiwan ETF has raised NT$730 million prior to its listing. At present, the market share of Polaris’ ETF products in Taiwan exceeds 90 percent.

    Quelle: ETFWorld – TWSE

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