Heavy Debut Volume Tops Market Turnover Ranking
The Actively Managed Fuh Hwa Taiwan Star ETF (00418A) was officially listed on the 11th, with an issue price of 10 yuan per share and a fundraising amount of nearly 10 billion yuan. Trading was concentrated on its first day, with volume exceeding 130,000 lots in just over ten minutes after the open, ranking No. 1 in turnover among Taiwan listed and OTC markets, and the intraday share price reaching as high as 10.21 yuan, drawing strong market attention. The fund is a closely watched new actively managed ETF, with its core managers in a dual-manager structure featuring Yi-Ping Rong, known in the market as the "Ninefold Female Warrior," as the lead and Chia-Hung Kuo as co-manager.
Top Ten Holdings Focus on Semiconductors and AI Supply Chain
According to Fuh Hwa Investment Trust's official website, the current top ten holdings cover semiconductors, AI servers and electronic components, with positioning focused on Taiwan's technology industry and AI-related supply chains. These include TSMC (6.7%), Unimicron (5.2%), Asia Vital Components (5.2%), Elite Material (5.1%), MediaTek (4.3%), MPI (3.9%), Nan Ya (3.9%), Jentech (3.9%), ASE (3.6%) and King Slide (3.7%). The overall allocation shows the fund is centered on semiconductors, AI servers and electronic components, echoing the main themes of Taiwan's technology industry and AI supply chains.
Ninefold Return Background and S.T.A.R. Stock-Selection Framework
Market attention on Yi-Ping Rong stems from her past performance. During her tenure at Nomura Investment Trust managing the "Nomura Taiwan Luck Fund," according to MoneyDJ fund manager historical data, from March 2020 to April 2026, over a 73-month management period, the cumulative return reached 920.51%, compared with about 241.75% for the Taiwan market over the same period. In stock selection, 00418A's selection universe targets the top 300 Taiwan listed companies by market value, screened through four S.T.A.R. momentum signals: S (Spread) for growth spillover, T (Transform) for industry transformation, A (Accelerate) for accelerating earnings upgrades, and R (Re-rate) for corporate value re-rating, with three investment directions: large value-growth stocks focusing on semiconductor, packaging and testing, and networking industry leaders; Emerging fast-growing stocks seeking small and mid-cap companies with technological barriers and high growth potential; and AI-transformation traditional stocks tapping companies that have successfully entered AI supply chains and may see an operational turnaround.
Fundraising Amid Volatility and Non-Distribution Mechanism
00418A's fundraising period coincided with sharp volatility in the Taiwan market in October, undergoing a correction and chip reshuffling, making portfolio construction amid market fluctuations the first test for the new fund. In addition, 00418A adopts a non-distribution mechanism, keeping returns within the fund for continued deployment to pursue long-term compounding effects. In terms of basic information, the fund name is Actively Managed Fuh Hwa Taiwan Star, securities code 00418A, listing date November 11, 2026, issue price 10 yuan per share, managers Yi-Ping Rong and Chia-Hung Kuo, with no income distribution.