Mr.Vicharat Vichit-Vadakan, President of the Stock Exchange of Thailand (SET), revealed that the new security comprises 500 million investment units approved the Securities and Exchange Commission (SEC) with a par value of 10 Baht each, totaling of 5,000 million Baht.
"The SET is delighted that SCB Asset Management Company Limited decided to list the SCBSET Fund. This makes SCBSET the first open-ended fund choosing the SET. This will provide more convenience for investors for trading investment units. Normally, unit holders of an open-ended fund can trade their unit trusts daily through asset management companies and other dealers provided. Funds currently trading on the SET are all closed-ended funds, which need to be listed to enable holders to trade them prior to a fund's maturity date. Thus, in allowing trading of SCBSET, a first open-ended fund, shows that the SET is an efficient channel for trading securities and investments of all kinds," said Mr. Vicharat.
SCBSET is a mutual fund with a policy of investing not less than 65% of Net Asset Value (NAV) in capital instruments. Stocks invested in will be those stocks that are a large component of the SET Index calculation-- computer will select not more than 120 securities. The NAV of the fund will move in line with the ups and downs of the SET index. SCBSET has no predetermined maturity date.
Investors interested in the SCBSET should study the details in the prospectus available online at www.scbam.com and can follow up information of NAV, sale price and repurchase price of the SCBSET instrument every day on the R-SIMS, SET data system and SET's website at www.set.or.th, or SCB's website at www.scbam.com.
