Taiwan braces for ETF race

Which idea will succeed: mid-caps or tech?
TaiwanÆs first exchange-traded fund, launched in 2003 by Polaris International Investment Trust, turned out to be a big hit. Now Polaris and rival, Fubon Investment Trust, are about to launch the next two ETFs, and their backers are hoping for an equally impressive run.

The 2003 Polaris Taiwan Top 50 Tracker Fund TTT now has about $1 billion of assets under management and has enjoyed steady asset accumulation even as the Taiwan stock market has flat-lined, says Patrick Wong, vice chairman at Polaris in Taipei.

The ETF tracks an index of the marketÆs biggest stocks by capitalisation compiled by FTSE and the Taiwan Stock Exchange. It got a huge lift initially by government-controlled pension...
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