| Fund Characteristics
|
Name of Fund |
Fubon MSCI® Taiwan ETF |
Fund Type |
Exchange Traded Fund (ETF) |
Underlying Index |
MSCI® Taiwan Index |
Stock Code |
0057 |
Website |
|
Listing |
Taiwan Stock Exchange |
Regulator |
Securities and Futures Commission |
Issuer/Manager |
Fubon Asset Management Co., Ltd. |
Technical Advisor |
None |
Custodian |
Taishin International Bank |
Management Style |
Passive |
Investment objective |
Closely track the performance of MSCI® Taiwan Index (before fees and expenses) |
Issue of Units |
Scripless, units held in the Depository and not available for withdrawal in physical form |
Depository |
Taiwan Depository & Clearing Corporation |
Maximum subscription size |
None |
Net Asset Value (NAV) |
Net asset value will be calculated based on the market value of the assets of the Fund after income and expenses accrual. It will be announced after 4 pm on each dealing day. |
Total Expense Ratio (TER) |
TER includes Management fee, Custodian fees, index license fees, etc. Such expenses will be accrued daily and subtracted from the NAV. Based on an estimated fund size of NTD 5bn, TER will be approximately 48 bp. |
Voting rights |
The Manager will act in the unitholders' interest and exercise voting rights for the shares held in the Fund. |
Annual report |
The Manager will prepare annual report within 2 months after the end of each accounting year. The annual report will be signed by the Manager and the Custodian and certified by the accountants. |
Distribution |
When the Fund's investment performance exceeds that of the Underlying Index by 1% or more, the Fund will make a distribution. |
| Trading in the Secondary Market |
Buy/sell |
Through any licensed securities broker |
Account Opening |
Need to open a securities trading account with a brokerage house |
| Commission |
Same as for ordinary stocks ¡V varies by broker but no higher than 0.1425% of the consideration |
| Board lot |
1,000 units |
| Trading time |
Trading hours of the Taiwan stock Exchange: 9:00 ¡V 13:30 |
| Tax |
0.1% levied on the sale of the units, lower than 0.3% levied on the sale of stocks |
| Price relationship with the index |
10th of the index level |
| Bid/ask spread |
NTD 0.01 if the price of the unit is below NTD 50 NTD 0.05 if the price of the unit is above NTD 50 |
| Limit up and down |
7%, same as that for stocks |
| Information Disclosure |
¡E Estimated NAV per unit every 15 seconds (disclosed by the issuer)
¡E Trading price of the fund and the 5 best bid/ask prices and volumes. (disclosed by TWSE) |
| Margin Trading |
¡E Available on listing
¡E Short selling under margin trading is exempted from the tick rule
(which requires short sales to take place at no lower than the previous day's closing price)
¡E Investors should check with his/her broker to see if there is any quota available before executing short-selling |
| Creation and Redemption in the Primary Market |
Creation and redemption |
Creation ¡V to subscribe for units of the Fund using index baskets and cash component
Redemption ¡V to redeem units of the Fund for index baskets and cash component
|
Portfolio Composition File (PCF)
|
Details of index baskets for creation and redemption will be disclosed through the fund issuer'a website to all market participants
|
| Order input time |
9:00 ¡V 15:30 on each dealing day
|
Tax
|
No tax is levied on creation or redemption
|
Creation Unit / Redemption Unit
|
500,000 units |
| Placement of creation and redemption orders |
Must be through participating dealers |
Issue Price / Redemption Price
|
NAV per unit on the day of creation or redemption |
Creation consideration / Redemption consideration
|
NAV per unit * number of units applied for in the creation or redemption order |
Types of creation
|
¡E Creation
¡E Aggregate creation
¡E Minimum in-kind creation
¡E Creation and sale of ETF on the same day
¡E Minimum in-kind creation and sale of ETF on the same day
|
Types of redemption
|
¡E Redemption
¡E Redemption and sale of stocks on the same day |
Creation and redemption fee
|
Varies by participating dealers but subject to the limit
¡E Creation fee cannot exceed 2% of the creation consideration
¡E Redemption fee cannot exceed 1% of the redemption consideration |
