/KASE, October 17, 2018/ – Moscow Exchange (MOEX) released on its website
the following press release of October 16, 2018:
quote
On 16 October 2018, Moscow Exchange (MOEX) started trading in the KASE
Index Exchange Traded Fund (ETF) managed by FinEx Investment
Management LLP.
The ETF is listed on MOEX’s Level 1 under the ticker FXKZ. Investment
Company Freedom Finance is acting as the market maker.
The ETF is traded in roubles and linked to the share price denominated in KZT,
since the ETF’s assets value is calculated in KZT. In the first day of trading,
the ETF’s launch volume was RUB 320 mln (ca. USD 5 mln).
The KASE ETF comprises shares of the seven largest Kazakh equity issuers:
Bank CenterCredit and Halyk Bank (financial sector), Kazakhtelecom and Kcell
(telecommunications), KAZ Minerals and KazTransOil (commodities) and KEGOC
(energy). The weight of every security in the fund will be similar to its weight
in the KASE index.
The launch price of one share was KZT 1,000 (RUB 190).
unquote
As a representative of FinEx Investment Management LLP said: "at the beginning
of trading the value of the fund's shares made up 180 rubles due to strengthening
of the ruble against a broad range of currencies".
The project was implemented during the current year. Besides the parties
mentioned in the press release, the following entities participate in the
project:
- KASE, the index provider responsible for the information support of the
project;
- BoNY Mellon Trust as the global custodian and administrator organizing
accounting and storage of the fund's assets;
- Computershare (major global registrar) as the fund's registrar;
- PricewaterhouseCoopers (PwC), conducting annual auditing of the funds
FinEx ETFs;
- Irish Central Bank, ESMA, Bank of England (FCA) – financial, regulators,
who besides approval of the fund's operations, carry out monitoring of the
fund's operations and its investment management.
Listing of this ETF and opening of trading in it in tenge on KASE soon is
planned.
The full press release of Moscow Exchange is available at
http://www.moex.com/n21233/?nt=106
The press release "IC "Freedom Finance" launches a unique product – ETF
KASE on Moscow Exchange" dated October 16, 2018 is available at
https://ffin.kz/about/press-centr/ffin-kaz/etf-kase
[2018-10-17]