News
Characteristics of Taiwan Top 50(0050)
| TTT is traded like any ordinary
shares on the TSEC and the trading price is approximately
1% of the Taiwan 50 Index. Investors are able to trade
TTT by their securities trading accounts with a brokerage
house, and do not need to open an additional account.
The NAV of the fund is estimated and disclosed by the
Taiwan Stock Exchange Corporation (TSEC) in every 15 seconds
during the trading hours. This is the same frequency as
the updates on the Index. The daily price limit is 7%,
same as that of the stocks. TTT is immediately available
for margin trading upon listing. Short selling of ETF
units under margin trading is also exempted from the local
up-tick rule.TTT provides international investors with
an efficient and inexpensive method of gaining greater
exposure to a group of Taiwan’s leading blue chips. |
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Characteristics of Taiwan Mid-Cap 100 (0051)
| The Taiwan Mid-Cap 100 is the
Fund which tracks 100 most profit potential companies
in the middle-size market capitalization of The Taiwan
Stock Exchange, The Taiwan Stock Exchange Corporation
(the TSEC), following the world trend of passive investment,
after the “Taiwan 50 Index”, are in cooperation with FTSE
(the Index Company) to compile another index, the “Taiwan
Mid-Cap 100 Index”. The Mid-Cap 100 Index is to track
the market capitalization of listed companies ranging
from 51 to 150 of Taiwan Stock Exchange. Also the Mid-Cap
100 Index is the representation of most profit potential
companies in the stock market. The Mid-Cap 100 Index covers
18 different sectors of industries, including High-Tech,
Financial Services, Plastics, and Textiles etc., and the
components stocks are among the elites of most profitable
and growing companies in each individual sector, such
as, optical related Largan Precision and Premier Image
Technology, mobile phone related Silitech Technology and
Inventec Appliances. In order to capture the precise movements
of the market, the TSEC and FTSE will adjust the component
stocks in every quarter in accordance with their calculation
standards to make the Index as the true representation
of the market. |
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Fund Advisor
Fund Advisor：State Street Global
Advisors Asia Ltd
State Street Global Advisors (SSgA) is the investment
management division of State Street Corporation ("State
Street"). Founded in 1792 and based in Boston, State
Street has a rich history of more than 200 years with
global operations in 25 countries and employing more than
19,500 people worldwide. State Street is a bank holding
company whose shares are traded on the New York Stock
Exchange under the symbol "STT".
State Street Global Advisors Asia Limited (SSgA Asia),
a subsidiary of SSgA, is the fund advisor of TTT. SSgA,
the investment arm of State Street, is one of the top
ten asset managers in the world. As of 30 September 2003,
SSgA effectively managed US$965 billion of global assets,
with an average annual growth rate over 27% during the
last decade. The impressive growth experienced was organic,
and not the result of acquisitions. SSgA is one of the
only two asset managers within top ten asset mangers worldwide
has this unique achievement. What's more, 70% of its new
incremental assets came from existing customers, reflecting
very high customer satisfaction.
SSgA, in association with American Stock Exchange, was
the issuer of the first exchange traded fund (ETF) in
the world and has accumulated rich experiences promoting
and transplanting the ETF products across global markets
since 1990. SSgA has remained the number one choice around
the world as a partner for all the exchanges desirous
of launching their ETFs. According to Morgan Stanley Research
and Bloomberg, SSgA managed over 40 ETFs amounting to
approximately USD$79.80 billion of assets under management
as of 30 June 2005, representing 23.76% of all ETFs worldwide.
www.ssga.com
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The series of investment funds offered by Polaris International Securities
Investment Trust Company Limited are approved by the Securities and Future
Commission of the Ministry of Finance. Investors should note that investment in
investment trust funds involves risk and past performance may not, guarantee a
minimum return. The Manager shall manage the Fund with the care of a good
administrator. The Manager shall not be responsible for the profits and losses
of the Fund, nor the guarantee of a minimum return. Investors should carefully
consider all risks involved in investment trust funds, and they should refer the
relevant fund’s offering document before making any investment
decisions.
Polaris Taiwan Top 50 Tracker Fund and Polaris Taiwan Mid-Cap
100 Tracker Fund are not in any way sponsored, endorsed, sold or promoted by the
FTSE International Limited (“FTSE”) or by the London Stock Exchange PLC (“LSE”)
or by The Financial Times Limited ("FT") or by the Taiwan Stock Exchange
Corporation (“TSEC”) and neither the FTSE nor the London Stock Exchange, nor the
FT, nor the TSEC makes any warranty or representation whatsoever, expressly or
implicitly, either as to the results to be obtained from the use of the TSEC
Taiwan 50 Index("the Index") and/or the figure at which the said Index stands at
any particular time on any particular date or otherwise. The name of the
respective Index is jointly owned by the FTSE and the TSEC. However, neither the
FTSE nor the London Stock Exchange, nor the FT, nor the TSEC shall be liable to
any person for any error in the Index or other compensation liabilities or under
any obligation to advise any person of any error therein.
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LD
Polaris International Securities Investment Trust
Company Limited has obtained the authorities from FTSE International Limited
and Taiwan Stock Exchange Corporation for the use of the name for Taiwan
Stock Exchange Corporation Taiwan 50 Index and Taiwan Stock Exchange
Corporation Taiwan Mid-Cap 100 Index. The user should comply with relevant
regulations from the Taiwan Stock Exchange Regulations Governing the
Use of Trading Information. The information contains herein has been
obtained from sources believed to be reliable and is for reference only.
All information should be based on the public announcements from the Taiwan
Stock Exchange Corporation. Investors should be responsible for its own
investment profits and losses.
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