Thai Bourse lists gold-based ETF “KG965” on Oct 27

Thai Bourse lists gold-based ETF “KG965” on Oct 27

25/10/2011

The Stock Exchange of Thailand (SET) will list K-Gold ETF, managed by Kasikorn Asset Management Co., Ltd., on its main board on October 27, under the ticker “KG965.”

KG965, an open-end exchange-traded fund (ETF), has a policy to invest in domestic gold bars of 96.5 percent purity which are kept in safe deposit.

“It is Thailand’s first ETF tracking 96.5-percent gold bar, which is an accepted standard in Thailand’s gold trading industry. I believe that this ETF is an alternative to meet investors’ demand for those familiar with gold bar trading. Investors are able to access real-time trading through SET’s reliable trading system and their brokers, and also have opportunities to get returns similar to investment in gold,” said SET President Charamporn Jotikasthira.

Patchara Samalapa, Managing Director of Kasikorn Asset Management, said: “The ETF was well-received from investors during its IPO on October 13-19. It has raised THB 1.5 billion with a price per unit of THB 24.15. KG965 is to invest in gold, kept in security vaults of Brink (Thailand), and also has three efficient gold traders as partners. All these strengths should enhance confidence to investors and boost their interest.”
KG965 is launched in partnership with Ausiris Futures Co., Ltd., Hua Seng Heng Gold Futures Co., Ltd. and MTS Gold Futures Co., Ltd. These gold futures brokers are the ETF’s market makers and participating dealers.

The gold-based ETF can be traded via brokers and gold traders who have Limited Broker Dealer Underwriter (LBDU) sub-broker licenses, issued by the Securities Exchange and Commission.