Yuanta Funds launches the 1st ex­change traded fund in ROC

The China Post - - TAIWAN BUSINESS -

Tai­wan’s first com­mod­ity fu­tures ex­change traded fund, Yuanta Funds’ ( ) Stan­dard and Poor’s Gold­man Sachs Gold ER In­dex eq­uity fund, was pub­licly listed yes­ter­day.

The fund’s name will be short­ened to Yuan Gold ETF, with its stock sym­bol be­ing 00635U.

Yuanta Funds CEO Justin TS Liu ( ) said yes­ter­day that the gold ETF in Sin­ga­pore was at one point the most traded ETF in the world, and sees con­sid­er­able ac­cep­tance in both Ja­pan and South Korea.

The gold ETF re­leased by the Mit­subishi UFJ Fi­nan­cial Group has grown in the past as well, said Liu. “When the Ja­panese yen de­pre­ci­ates com­pared to the U.S. dollar, gold prices have dropped 1.07 per­cent from 2014 to March 2015, yet the same pe­riod saw ... a 21.43 per­cent growth in units of mu­tual funds pur­chased by in­vestors. So we can see that gold in­vest­ment is com­ing back into the mar­ket as we are bat­tling de­pre­ci­a­tion.

“Ac­cord­ing to our ex­pe­ri­ences in Ja­pan and South Korea, com­modi­ties like gold and crude oil ETF’s have their own unique and func­tional places in as­set al­lo­ca­tions,” said Liu.

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