KUALA LUMPUR: MyETF Thomson Reuters Asia Pacific ex-Japan Islamic Agribusiness (MyETF-Agri) made its debut on the Main Market of Bursa Malaysia on Thursday at 96 sen, for a four sen discount.
A total of 22,000 shares were traded at the opening.
MyETF-Agri is a unit of ValueCAP Sdn Bhd's wholly-owned subsidiary, i-VCAP Management Sdn Bhd.
Chief executive officer and director Mahdzir Othman told a media conference that the exchange traded fund (ETF) is the fourth of its kind launched and that it is a collective investment scheme as it follows the net asset value (NAV) of the fund.
He said the company was working on a fifth fund as i-VCAP is committed to championing ETF development in the future, in different sectors, for more depth and spread.
"The new fund will be open-ended, starting off with 20 million units and up to 500 million units. Over time, we hope to see more participation from investors," he added.
He said barring unforeseen circumstances and regulatory approvals, the fifth fund will be launched in mid-2016.
MyETF-Agri will concentrate on 30 agribusiness stocks in 10 countries: Malaysia, the Philippines, Singapore, South Korea, Hong Kong, Indonesia, Thailand, Australia, Taiwan and New Zealand.
Mahdzir said 30.1% of the stocks are from Malaysia, which has a solid syariah-compliant structure, although the percentage could change from time to time.
The open-ended fund has an approved size of 500 million units, and investors can subscribe at RM1 per unit with a minimal subscription of 100 units. - Bernama
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