The Stock Exchange of Thailand (SET) will list Bualuang CHAY Gold ETF, managed by Bualuang Asset Management Co., Ltd, on its main board starting from November 1, under the ticker “BCHAY.”
BCHAY, an open-ended exchange-traded fund (ETF), has a policy to invest in domestic gold bars of 96.5 percent purity.
“We are very pleased to be a part of Thailand’s gold investment development and help upgrade it to the international level. With the launch of gold-based ETF, Thai investors are now able to manage their portfolios more efficiently. BCHAY is a result of fund innovation and investment in 96.5-percent gold bars, which is an accepted gold trading standard. The ETF facilitates investors with real-time trading, enabling them to track gold prices conveniently, timely and quickly through the SET’s reliable trading and settlement systems. Meanwhile, there is no problem in storage and safety maintenance of the gold bullion as the fund manager will operate them,” SET President Charamporn Jotikasthira noted.
Wasin Wattanaworakijkul, Managing Director of Bualuang Asset Management, said: “The ETF got a warm welcome from investors during its recent IPO. It has raised THB 1.12 billion with a price per unit of THB 23.90. We believe the policy to invest in gold bars with a purity of at least 96.5 percent, kept in the storage managed by Kasikornbank plc and with leading gold traders as partners, will help enhance liquidity of the ETF and boost confidence to investors.”
BCHAY is formed through the cooperation of Bangkok Bank plc, Bualuang Asset Manangement, Bualuang Securities and four gold traders as the fund’s partners, which are Ausiris Co., Ltd.; Chin Hua Heng Co., Ltd.; Hua Seng Heng Commoditias Co.,Ltd., and YLG Bullion International Co.,Ltd.
Ausiris, Hua Seng Heng and YLG are the ETF’s market makers and participating dealers. It also has another two participating dealers, which are Bualuang Securities and KGI Securities (Thailand). The ETF can also be traded via brokers and gold traders who have Limited Broker Dealer Underwriter (LBDU) sub-broker licenses, issued by the Securities Exchange and Commission.