The Committee approved Tatung (Code: 2371) to be added into the TSEC Taiwan 50 Index with an investibility weighting of 100% and Via Technologies (Code: 2388) will be removed from the Index. All the constituents including the new addition have passed the annual liquidity screen. The new TSEC Taiwan 50 Index Reserve List, which will be used in the event that one or more constituents are deleted during the period up to the next quarterly review, are: E Sun Financial Holding (Code: 2884), International Bank of Taipei (Code: 2808), Inventec Co (Code: 2356), Macronix International (Code: 2337) and Wan Hai Lines (Code: 2615).
Currently, the TSEC Taiwan 50 Index is tracked by the Polaris Taiwan Top 50 Tracker Fund (Code: TTT, 0050), which is the first ETF in Taiwan and has been advised by the State Street Global Advisors (SSgA). As of 30 June 2004, the asset under management of the fund is US$1.3billion, one of the biggest ETFs in the Asia Pacific region.
In addition, the Committee agreed the introduction of two new tradable indices: the TSEC Taiwan Mid-Cap 100 Index and TSEC Taiwan Technology Index. These two new indices are targeted to be launched in the fourth quarter of 2004.
Since 2002, the successful partnership between FTSE and TSEC has brought international index expertise to the Taiwan equity market. The combination of FTSE’s knowledge in international indexing with TSEC’s strong presence and capabilities in the Taiwan equity market creates a level of expertise in the Taiwan market that has previously not existed. Moving forward, FTSE and TSEC will continue in expanding the Taiwan index family to cope with the demand of domestic and international investors.
For more information about the TSEC Taiwan 50 Index, please visit http://www.ftse.com/indices_marketdata/taiwan/index_home.jsp or http://www.tse.com.tw/docs/plan/index/taiwan50F.htm
