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Products December 1, 2004
State Street to Launch Taiwan ETF
January 24, 2003 (PLANSPONSOR.com) - Plan sponsors
interested in global investment opportunities based in the
Far East will soon have Taiwan's first exchange traded fund
(ETF) to consider.
Reported by Fred Schneyer
State Street Global Advisors and the Taiwan-based Polaris International Securities Investment Trust are developing the ETF under a Taiwan Stock Exchange license, according to Dow Jones. State Street said it expects to launch the Taiwan ETF by mid-2003.
The Taiwan ETF will be based on the Taiwan 50 Index launched in November by the Taiwan Stock Exchange and the London-based index provider FTSE Group. The Taiwan 50 Index is based on the weightings of 50 of the most heavily traded stocks in that market.
ETFs are open-end mutual funds listed on a stock exchange, where they can be traded just like any company stock during trading hours.