FMIC delays launch of Philippines' first ETF
First Metro Investment Corp has delayed the launch of the Philippines’ first exchange-traded fund as the ETF has yet to be given the green light by the country’s regulatory authorities.
According to FMIC president Roberto Juanchito Dispo, the ETF will now begin trading next month.
"It will be in October,” he says. “The Philippine Stock Exchange and the Securities and Exchange Commission approval are expected to be released before the end of the month.”
The proposed ETF will track the performance of the Philippine Stock Exchange index (PSEi), the benchmark for the stock market, comprising 30 of the country's top-performing listed firms.
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