SET lists KTAM SET ICT
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THE STOCK EXCHANGE of Thailand (SET) will list KTAM SET ICT ETF Tracker, managed by Krung Thai Asset Management, on its main board tomorrow, under the ticker symbol "EICT". EICT, an open-end exchange-traded fund (ETF), will track the performance of the
Kesara Manchusree, SET executive vice president and head of Markets Division, said that ICT-related stocks have been consistently popular with investors, as telecommunications, communications, and mobile phone businesses all showed promising growth.
“In aggregate, these sectors' net profit in the first half of this year rose 14 per cent from a year earlier,” said Kesara. “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,” he added.
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 per cent. This year, the index has increased 34 per cent in the first six months, with an average dividend yield of 3.6 per cent.
The new ETF is the sixteenth SET-listed ETF, consisting of six ETFs tracking five sector indices including 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 are issued and managed by KTAM.
“Although the IPO was launched during highly volatile market conditions, KTAM successfully raised more than Bt100 million at Bt6.79 per unit from both retail and institutional investors between August 5 and 6,” said Somchai Boonnamsiri, chief executive officer of Krung Thai Asset Management.
KT ZMICO Securities and Asia Plus Securities Plc are participating dealers, while Asia Plus Securities is also the market maker. Thailand Securities Depository is registrar for EICT.
