Thai Bourse to list gold-based ETF on Oct 11

Thai Bourse to list gold-based ETF on Oct 11

07/10/2011

The Stock Exchange of Thailand (SET) will list ThaiDex Gold ETF, managed by One Asset Management, on its main board on Octotber 11, under the ticker “GOLD99.”

GOLD99, an open-end exchange-traded fund (ETF), has a policy to invest in gold bars of 99.99 percent purity and store physical bullion domestically. TMB Bank plc. is the fund’s trustee.

“The fund is an attractive alternative and meets investors’ demand for those want to invest in gold through the stock exchange. GOLD99 will move in the same direction as the price of 99.99-percent gold bars in global markets, so investors will get returns similar to investment in gold. In addition, it can be traded conveniently via brokers, with real-time prices through SET’s reliable trading systems,” said SET President Charamporn Jotikasthira.

Monrat Phadungsit, President of One Asset Management, said; “The most important feature of GOLD99 is that investors can be assured that the ETF is backed by physical bullion and its storage meets London Bullion Market Association (LBMA). We strongly believe that this innovative investment will facilitate investors in managing their portfolios.”

Ausiris Futures Co., Ltd. is GOLD99’s market maker. Participating dealers are Ausiris and Globlex Securities Co., Ltd.
The gold ETF can be traded via broker members and gold traders who have Limited Broker Dealer Underwriter (LBDU) sub-broker licenses, issued by Securities Exchange and Commission.