Taiwan's first actively managed ETF, Actively Managed Nomura Taiwan Select (00980A), today (2nd) announced its latest income distribution, with an estimated distribution of 0.688 per beneficial unit, an increase of 0.05 from the previous 0.638. The ex-dividend date is scheduled for November 17, the last purchase date is November 16, and the distribution is expected to be paid on December 11. 00980A, which adopts a quarterly distribution system, currently has 71,476 beneficiaries.
Fourth Consecutive Quarterly Increase, Single-Quarter Yield of About 3.02%
Looking back at this year's distribution record, 00980A previously distributed 0.368, 0.48 and 0.638, with this estimated amount raised to 0.688, showing a quarter-by-quarter upward trend. Based on today's closing price of 22.79, the estimated single-quarter distribution rate is about 3.02%, and estimated with the same distribution amount, the annualized distribution rate is about 12.08%.
Foreign Investors' Net Selling in October Exceeded 9943 Hundred Million Yuan, a Record High
Looking back at the Taiwan stock market in October, the Weighted Index once surged to 49,968.92 points, just one step away from the 50,000-point mark, and then turned from strong to weak under the impact of the high interest rate environment, concerns over AI investment returns, and continued adjustments by foreign investors, with foreign investors' net selling for the month reaching as high as 9,943.17 hundred million yuan, a record single-month high. According to Nomura Asset Management statistics, among the top ten months of foreign-investor net selling since 2020, excluding October this year, the average monthly net selling was 4,655.27 hundred million yuan, with the broader market falling an average of 4.95% in those months; but extending the observation period to the following 6 months, the index rose an average of 17.48%, showing that concentrated net selling by foreign investors does not necessarily mean continued medium-term market weakness.
Focus on AI Infrastructure and Corporate Earnings Momentum
Yu Jingde, fund manager of 00980A, said that this year's relatively large shocks in Taiwan stocks were concentrated in April, July and October, with the market mainly worried that large cloud service providers (CSPs) continuing to expand AI capital expenditures could increase financing costs and free cash flow pressures. However, recent earnings reports from tech giants still show continued growth in cloud and AI demand, with capital expenditures by the five major CSPs next year estimated to be revised up to US$1.3 trillion, and the AI infrastructure investment cycle has not yet peaked. Yu Jingde further pointed out that, according to Nomura Asset Management's internal stock pool estimates, this year's corporate earnings per share (EPS) growth rate has been revised up to 80.3%, and has been revised upward for 10 consecutive months. As Nvidia's new-generation AI platform Vera Rubin is expected to enter mass production from the end of the fourth quarter this year to the beginning of the first quarter next year, Taiwan's supply chain still has competitive advantages in server rails, ABF substrates and heat dissipation, and is expected to benefit from subsequent order growth. Nomura Asset Management believes that investors can evaluate dollar-cost averaging or staged deployment opportunities based on their own risk tolerance and funding plans.