The Stock Exchange of Thailand (SET) will list KTAM Gold ETF Tracker, managed by Krung Thai Asset Management PCL (KTAM), on its main board on August 8, under the ticker “GLD.”
GLD, an open-end exchange-traded fund (ETF), is Thailand’s first ETF tracking the price of gold. The fund’s policy is to invest in the units of SPDR® Gold Trust, the world’s largest gold ETF.
“GLD is the Thai stock exchange’s first ETF based on gold, aiming at creating returns linked to spot gold prices. Currently, gold is an asset class worth investing in because it generates high returns and attracts both institutional investors and the public. The SET’s policy is to collaborate with asset management firms to enhance and increase the launch of new ETFs to cope with various demands of investors and boost business opportunities for broker members and asset management firms,” said SET President Charamporn Jotikasthira.
KTAM CEO Somchai Boonnamsiri said: “GLD gained much attention from investors during its IPO on July 25-29. It has raised THB 577 million and has a price per unit of THB 2.2785. We expect demand for GLD to keep rising when it lists on the stock exchange, as it gives more flexibility than other general gold funds.”
Hua Seng Heng Gold Futures Co.,Ltd. is GLD’s market maker, while DBS Vickers Securities (Thailand) Co.,Ltd., KGI Securities (Thailand) PCL and KT ZMICO Securities Co.,Ltd. are participating dealers. Gold traders who have LBDU (Limited Broker Dealer Underwriter) sub-broker licenses, issued by Securities Exchange and Commission, can participate in gold ETF trading.
