New ETF launched
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Kasikorn Asset Management and three gold shops jointly launch the "K Gold ETF Fund", to boost small-time investors' ability to own gold bars.
The fund, to be available this month, will use the proceeds in buying gold bars. The fund requires minimum investment of Bt30,000. Upon their sell under the specified condition, the investors could win a physical gold bar. Normally, transactions of gold bars are for gold with 5 baht weight, or around Bt120,000. Aside from Kasikornbank's branches, interested investors can open trading accounts at MTS Gold Futures, Hua Seng Heng Gold Futures and Ausiris Futures.
MTS Gold President Kritcharat Hiranyasiri believed that after listing on the stock exchange, this would become the biggest and most-liquid gold ETF given that the transaction price is set in line with the Gold Traders Association's references.
