MFC Asset Management Plc. (MFC) kicks off 2009 in high gear toward the FIF market with the launch of MFC International Gold Fund (I-GOLD). The fund which valued at Bt1 billion will invest in SPDR Gold Trust, a gold exchange-traded fund managed by World Gold Trust Services, LLC, and create opportunity for good return on investment amid the globally lackluster economy. The initial public offering for I-GOLD takes place during February 18 - March 4, 2009.
Dr. Pichit Akrathit, President of MFC Asset Management Plc. (MFC), disclosed that “The Bt1-billion open-end MFC International Gold Fund (I-GOLD) is now open for subscription as a feeder fund of SPDR Gold Trust, a gold exchange-traded fund managed by World Gold Trust Services, LLC. , I-GOLD which is an alternative to equity and fixed-income investmentis will likely to reward investors with favorable returns despite the presently gloomy state of the world economy. Gold has all the advantages - being universally recognized as a monetary asset with high liquidity and long-term stability and thus, ideally a suitable option to hedge against the risks of investment and inflation.”
The unique advantage of I-GOLD, is it aims to provide investors with returns that nearly equivalent to the performance of the price of gold bullion. The listing of the master fund, SPDR Gold Trust, on the Hong Kong Stock Exchange (HKSE) means investors can analyze the price situation of gold bullion and total asset value of the fund more easily, comparing to gold exchanges outside Asia such as in New York , since Thailand and Hong Kong time zones are quite close. Investors can potentially make profit from short-term fluctuation of gold price, making it ideal choice for those who want to minimize risks in their investment portfolio as the gold price and equity or fixed-income investment have little correlation. In addition, I-GOLD can hedge against fluctuation of foreign exchange rates whenever is appropriate.
Dr. Pichit added that “I-GOLD is suitable for investors who have a relatively good understanding of the potential risks from foreign exchange and investment in gold and willingly seek opportunity for better return from investing in foreign market. Following the IPO, I-GOLD will be offer for sale on every business day giving investors added liquidity. As for redemption of the fund units, MFC offers a special service for its I-GOLD investors upon the request of the unit holders arrange a purchase of gold bullion from Ausiris Co., Ltd., which is Thailand’s leading manufacturer and distributor of gold bullion with over 70 years of experience.
Investors who are interested in I-GOLD can subscribe the fund units with minimum investment of Bt10,000. For further queries, please contact MFC via number 0-2649-2000, then press 2 for Investment Planning Division or press 0 for Contact Center, or visit www.mfcfund.com and also I-GOLD selling agents as follows : Deutsche Bank AG, Citibank,N.A., Standard Chartered Bank (THAI), Phatra Securities Plc., Land and Houses Retail Bank Plc., Adkinson Securities Plc., Bualuang Securities Plc., DBS Vickers Securities (Thailand) Co.,Ltd., and SCB Securities Co.,Ltd.
There is risk associated with investment; investors should carefully study information before making the decision to invest.
Further queries, please contact
Khun Sutasikar Khurat, Khun Suwanna Chewanantachai
MFC Asset Management Plc: Tel. 0-2649-2230, 0-2649-2232
Khun Wongchan Tangsongsak, Khun Trungrutai Sundos
Verve: Tel. 0-2204-8221, 0-2204-8078