SPDR MSCI Australia Select High Dividend Yield ETF (SYI) IRESS (SYI:AXW) Intra day NAV (YSYI)
Listing for trading live on the ASX for SPDR MSCI "SYI" was the 29th of September 2010. On that day there were 1,500,000 units issued at AU$25.00 with a value of $37.5 million 438,000 shares or approx 25% of the face value of the new SPDR MSCI 'SYI' changed hands on the first day. Demand continued with an additional 300,000 units being created on that day to 1,800,000 shares of SYI. Today there are 2,000,000 shares on issue with FUM approaching $50 million an increase of approx 33% in FUM in the firsts week.
This has been the largest new primary issued Australian share ETF launch in Australia since 2001. With the only larger new listing being SPDR 200. This is of high significance because the larger number of units on issue and high levels of turnover improve liquidity thus the traders experience. All ETFs benefit from the liquidity of the underlying securities in this case the underlying Benchmark market cap is approx $385 billion.
There has been a great deal of buying via online brokers Etrade, CommSec. The ticker is SYI. For anyone using IRESS the first time you may need to enter SYI:AXW to point IRESS to the correct ASX ITS trading platform. To check the intra day estimated NAV use the code YSYI.
You can check on www.ETFmate.com.au under Daily Prices for intra day prices.
