The nation’s exchange-traded fund (ETF) market has achieved global reach by trading products that track indices in the world’s major equity markets, the Taiwan Stock Exchange (TWSE) said.
The TWSE said that after Cathay Securities Investment Trust Co (國泰投信), a subsidiary of Cathay Financial Holding Co (國泰金控), issued three ETFs on May 9 linked with the equity market in Tokyo, Taiwan’s ETF market has gained access to a wider range of products tracking foreign markets, including Hong Kong, China, the US, India and Japan.
Cathay Securities Investment Trust issued the ETFs tracking the Tokyo market — the Nikkei 225 Index, the FTSE Japan 2X Daily Leveraged Index and the FTSE Japan Daily Short Index — to provide investors in Taiwan more investment options, the TWSE said.
The ETFs have raised funds totaling about NT$1.8 billion (US$55.17 million) in the local market.
Fubon Asset Management Co (富邦投信), a unit of Fubon Financial Holding Co (富邦金控), issued three ETFs last year to track the TOPIX Leveraged, the TOPIX Inverse and the TOPIX in Japan.The ETFs issued by Fubon Asset Management saw a turnover ratio of 529.17 percent, 1,036.5 percent and 753.18 percent, respectively, as of the end of last month, the TWSE said.
In addition, Yuanta Securities Investment Trust Co (元大投信), a subsidiary of Yuanta Financial Holding Co (元大金控), is planning to issue an ETF to track the Nikkei 225 Index in the near term, the TWSE said.
Foreign stock exchanges have also showed interest in Taiwanese equities, the TWSE said.
The Osaka Exchange has secured approval from the TWSE to unveil new futures products in July that would use the TAIEX as its underlying index.
The TWSE said that additional ETFs are scheduled to enter the local main board in the first half of this year to track European markets.
According to the TWSE, ETFs accounted for 10.1 percent of the total turnover on the local main board as of March, up from 1.8 percent in 2014, showing investors’ enthusiasm for ETFs.
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