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Fund Objective
DIAMONDS® are Exchange-traded securities that represent ownership in the DIAMONDS Trust, a long-term unit investment trust established to accumulate and hold a portfolio of the common stocks that comprise the Dow Jones Industrial AverageSM (DJIASM).
DIAMONDS® are intended to provide investment results that generally correspond to the price performance and dividend yield of the DJIASM. There is no assurance that the performance of the DJIASM can be fully matched.
The DIAMONDS Trust Series I is a pooled investment designed to provide investment results that generally correspond to the price performance and dividend yield, before fees and expenses, of the DJIASM. There is no assurance that the price performance and dividend yield of the DJIASM can be fully matched.
About the Dow Jones Industrial Average
The Dow Jones Industrial AverageSM (DJIASM) was chosen as the basis for DIAMONDS® as it is the oldest continuous barometer of the U.S. stock market and the most widely quoted indicator of U.S. stock market activity.
The DJIASM component stocks include some of the most well known, liquid and highly capitalised companies in the United States. The 30 companies that make up the Dow are all leaders in their respective industries and their stocks are widely held by individuals and institutional investors.
The DJIASM is a price-weighted stock index, meaning that the component stocks of the DJIASM are accorded relative importance based on their prices. The DJIASM is called an "average" because it was originally calculated by adding up the component stock prices and then dividing by the number of stocks. While that method remains essentially the same today, the divisor (the number that the total of the stock prices is divided by) has been increased to eliminate distortions due to rounding and is adjusted when necessary to ensure continuity of the DJIASM after component stock changes and corporate actions.
Changes in the composition of the DJIASM are made entirely by editors of The Wall Street Journal without consulting the companies, the respective stock exchange or any official agency. Additions or deletions of components may be made to achieve better representation of the broad market and of the American industry.
Contract Specifications
| Listing |
American Stock Exchange |
| Price |
Approximates 1/100th the value of the DJIASM index level |
| Board Lot Size |
10 |
| Fund Manager |
PDR Services |
| Trustee |
State Street Bank |
| Total Expense Ratio |
0.18% p.a. |
| Transaction Costs |
- Prevailing brokerage commissions
- Clearing fees of 0.05% of the contract value (subject to a maximum of SGD200); and
- Goods and services tax of 5% on brokerage commissions and clearing fees.
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Prospectus
For more information, please refer to AMEX.
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