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The Stock Exchange of Thailand (SET) will list KTAM SET ICT ETF Tracker, managed by Krung Thai Asset Management pcl, on its main board on August 27, under the ticker symbol "EICT.”
EICT, an open-end exchange-traded fund (ETF), will track the performance of the SET Information and Communication Technology Sector Index, enabling investors to gain yields following the business growth of information and communication technology.
Kesara Manchusree, SET Executive Vice President and Head of the Markets Division, said: “ICT-related stocks have been consistently popular for investors, as the telecommunication, communication, and mobile phone businesses show promising growth. In aggregate, these sectors’ net profit in the first half of this year rose 14 percent from a year earlier,”
“The new ETF should be an alternative investment choice for those who want to invest in the whole group without buying individual stocks, giving them more convenience, plus the ability to easily adjust portfolios and receive dividends. Also, the fund’s policy is to pay dividends not exceeding four times a year,” Kesara continued.
The ICT sector covers 27 securities, consisting of mobile phone operators, fixed-line phone and Internet providers, telephone and computer accessories sellers, information technology infrastructure service providers, and other businesses, including satellite operators. The ICT sector index almost tripled over 2009-2012, rising by 197 percent. This year, the index has increased 34 percent in January-July, with an average dividend yield of 3.58 percent.
The new ETF is the 16th SET-listed ETF, consisting of six ETFs tracking five sector indices which are Banking, Commerce, Food and Beverage, Energy and Utilities Sectors, and Information and Communication Technology; five ETFs tracking gold; two ETFs tracking foreign equity; and three ETFs with underlying assets of SET indices. Of the 16 ETFs, eight ETFs issued and managed by KTAM.
Somchai Boonnamsiri, chief executive officer of Krung Thai Asset Management pcl (KTAM) said: "Although the IPO was launched during highly volatile market conditions, KTAM successfully raised more than THB 100 million at THB 6.7911 baht per unit from both retail and institutional investors between August 5 and 6.”
KT ZMICO Securities Co., Ltd. and Asia Plus Securities pcl are participating dealers, while Asia Plus Securities pcl is also the market maker. Thailand Securities Depository Co., Ltd. is registrar for EICT. For more information on EICT, please visit Krung Thai Asset Management pcl at www.ktam.co.th and the SET at www.set.or.th , www.settrade.com.
