ETF arrives in Taiwan

Taiwan's first exchange traded fund (ETF) will be launched today (Monday) by the Taipei-based consortium of State Street Global Advisors and Polaris International Securities Investment Trust. The Taiwan ETF is based on the TSEC Taiwan 50 Index, the relatively new index, launched last November by the Taiwan Stock Exchange and the FSTE Group. The fund is called the Taiwan Top 50 Tracker Fund, or TTT.