00403A Active ETF Trades at 5% Premium as Taiwan Regulator Eyes Market-Making Reforms

UPAMC Taiwan 50 Upgrade Active ETF (00403A) is an actively managed Taiwan equity ETF issued by Uni-President Asset Management, with its portfolio selected by a fund manager and its market price determined by trading. A premium arises when the market price exceeds net asset value per unit. Investors who buy at elevated prices could suffer losses if the gap later narrows, making market-making and subscription mechanisms critical to price stability.

00403A listed on May 12, 2026, closing its first session at NT$10.80 against a net asset value of NT$10.24 published by Uni-President Asset Management, a premium of 5.46%. Trading volume reached 4.204 million lots, worth NT$45.143 billion. On May 14, the Financial Supervisory Commission's Securities and Futures Bureau said six market makers accounted for 60% of trading but still could not keep pace with buying demand. It will urge the Taiwan Stock Exchange to study improvements to the market-making mechanism.