The Korea Exchange is going to list Kyobo Axa Power K100 ETF on May 3, 2011, which tracks an underlying index of the KOSPI 100. The ETF will be the first ETF based on the KOSPI 100 index that is composed of the top 100 stocks in terms of market capitalization in the KOSPI Market. The asset under management(AUM) of the new ETF is KRW 191.1billion and its estimated base price is KRW 21,520 per unit.
Kyobo Axa Investment Managers Co. is the 14th asset management company making inroads into the Korean ETF market.
The KRX has total 28 newly listed ETFs this year, which increases the total listed number of ETFs to 92.
