KTAM debuts Bt3-billion ICT Tracker fund
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Krung Thai Asset Management yesterday launched the Bt3-billion KTAM SET ICT ETF Tracker (EICT), the first exchange-traded fund to track the Stock Exchange of Thailand's index for the information and communications technology sector.
KTAM chief executive Somchai Boonnamsiri said the fund’s initial public offering would run from yesterday to August 16 for purchases starting at Bt5,000 and rising in multiples of Bt1,000.
The fund’s policy is to invest in the stocks of companies that are constituents of the SET ICT Sector Index. The fund will list on the bourse on August 27 under the ticker symbol EICT.
Asia Plus Securities is the market maker for this fund.
The SET ICT Sector Index consists of stocks of ICT businesses that are listed on the Thai exchange. It currently consists of 27 companies. The index is a market-capitalisation-weighted price index, which contributed to 13.5 per cent of the main SET Index as of June 30.
Last year, the SET Index gained 23.87 per cent while the SET ICT Sector Index rose 57.22 per cent .
KTAM believes the ICT sector will continue to benefit from the expansion of third- and fourth-generation cellular networks, consumers’ use of more mobile-phone applications, the social-networking boom and higher purchasing power for smart phones. These trends are driving demand for data usage.
Investors can request a fund prospectus at any Krungthai Bank branch, participating dealers including Asia Plus Securities and KT-ZMICO Securities and appointed selling agents including AIRA Securities, Bualuang Securities, CIMB Securities (Thailand), Country Group Securities, Finansia Syrus Securities, Globlex Securities, KGI Securities (Thailand), Maybank Kim Eng Securities (Thailand), SCB Securities, Trinity Securities, UOB Kayhian Securities (Thailand) and IV Global Securities.
