Mirae Asset Global Investments Changes S&P 500 Covered Call ETF Distribution Record Date to the 15th of Each Month

[Financial News] Mirae Asset Global Investments is moving the distribution record date for the 'TIGER US S&P 500 Target Daily Covered Call ETF' forward from the end of each month to the middle of the month. Investors who combine it with a Nasdaq-100-based product can receive distributions twice a month.
According to Mirae Asset Global Investments on the 2nd, the distribution record date for the 'TIGER US S&P 500 Target Daily Covered Call ETF' will be changed from the last day of each month to the 15th. The distribution rate will also be adjusted as stock dividends accumulated since the ETF's listing are reflected in the source of distributions.
The product is a covered call ETF based on the S&P 500 Index that uses short-maturity daily options. It keeps the proportion of options sold relatively low, allowing it to follow part of the index's upside while using option premiums and other sources to pay monthly distributions.
Following the change in the distribution schedule, investors who also invest in the 'TIGER US Nasdaq 100 Target Daily Covered Call ETF,' whose distribution record date falls at the end of the month, can receive distributions in the middle and at the end of each month, respectively. The strategy allows investors to gain simultaneous exposure to the S&P 500 and Nasdaq-100 while securing cash flow twice a month.
The new distribution policy will take effect this month. The distribution record date for September is the 15th, and investors who purchase the ETF by the 11th will be eligible to receive the distribution.
Lee Jung-hwan, Senior Managing Director and Head of Strategic ETF Management at Mirae Asset Global Investments, said, "With this change in distribution policy, investors can continue investing in leading U.S. indexes while receiving distributions every two weeks." He added, "The ability to receive monthly distributions even amid high market volatility is the most powerful driver for sustaining long-term investment."
[email protected] Lee Jung-hwa Reporter