FTI ETF — the Future Tech Innovation fund
Future Tech Innovation ETF (symbol: FTI) is an investment fund traded on the Mongolian Stock Exchange, and presents itself as the first ETF listed there. One unit represents a portfolio of 17 US-listed ETFs, so a Mongolian investor can hold technology, energy and commodity exposure in tögrög through a domestic broker.
Where it stands
Exchange traded price
Session 2026.09.22
Source: open.mse.mn — the official record of the Mongolian Stock Exchange.
Official NAV
Valuation date 2026.09.22
Source: open.mse.mn — the official record of the Mongolian Stock Exchange.
Price against NAV (our calculation)
Session 2026.09.22
Source: the exchange’s closing price and NAV — the difference between them is ours.
FTI Index — calculated by the MSE
Session 2026.09.22
Base: 2026.05.19 = 1000
Source: the Mongolian Stock Exchange — the official FTI index it calculates daily.
- Previous close
- 1,036₮
- Day range
- 1,036₮ – 1,054₮
- Units traded
- 913
- Units in issue
- 5,152,600
- Units authorised
- 200,000,000
- Market capitalisation
- 5.4B ₮
The last closing price agreed between a buyer and a seller on the MSE. The exchange appends a session’s bar only after that session ends, so during trading hours this can still be the previous day — which is why the date is always shown beside it.
Net asset value: everything the fund holds, valued and divided by the units in issue. Taken as the exchange publishes it. The fund’s own site publishes NAV too but dates it a day later, so the two series must never be merged.
Computed by us from a closing price and a NAV bearing the same date. The exchange publishes a Premium/Discount column of its own, but every row of it measures today’s price against that row’s NAV — so the whole history moves when today’s price moves — and we do not republish it.
The index the fund tracks. The methodology was developed by the fund’s manager; the daily calculation is performed by the Mongolian Stock Exchange.
One name, three different numbers
The name "FTI" is attached to three separate numbers at once. All three are four digits, all three are close together, and mistaking one for another means reading the wrong one. The difference:
1. FTI Index — the index level
A methodology and its daily result: which ETFs are selected on which criteria and at what weights. The calculation is performed by the Mongolian Stock Exchange. It is not an amount of money — it is a level measuring the change since its base date, and the index itself cannot be bought.
See the FTI Index chart on the index page2. The FTI ETF’s traded price
What a buyer and a seller agreed on the MSE that day — the tögrög figure you actually pay for a unit. It moves only on days the fund trades.
3. The fund’s official NAV
The valuation that says what a unit is backed by: the value of the 17 ETFs the fund holds, divided by the units in issue. It is struck by the fund’s valuation rather than by the market, so it can sit either side of the traded price.
Fund details
- Fund name
- Future Tech Innovation ETF
- Symbol
- FTI
- ISIN
- MN00FTI40043
- Listed on the MSE
- 2026.08.19
- Index tracked
- Future Tech Innovation Index
- Management style
- Passive — tracks a securities index
- Investment manager
- Balanced Growth Management LLC (BGM Asset Management)
- Custodian bank
- Golomt Bank
The exchange and the fund publish in Mongolian only. The price, NAV, costs, portfolio weights, index level and index series on this page all come from the Mongolian Stock Exchange’s own published figures. Every English sentence around those figures is our own translation, and the fund’s English name is the manager’s own rather than an official one.
Costs
- Management fee
- 1.5%
- Custodian fee
- 0.1%
- Other operating expenses
- 0.5%
The exchange publishes these three lines separately and announces no combined figure such as a TER. We do not add them up either: a total would be our arithmetic wearing the exchange’s authority.
The fund’s own site, etf.mn, publishes no fee figure at all. These percentages are read from the exchange’s record alone.
On top of these, your securities firm charges brokerage on every purchase and sale. Neither the fund nor the exchange publishes that rate, so ask your own broker.
What the fund holds
The fund holds 17 US-listed ETFs. The weights below are the target weights the exchange publishes: the live weights drift a little each day with the market, and the manager rebalances annually under the index methodology.
| Symbol | Name | Sector | Target weight | Price ($) | Change |
|---|---|---|---|---|---|
| GSEW | Goldman Sachs Equal Weight US Large Cap Equity ETF | — | 30.00% | $95.57 | +0.14% |
| QQQM | Invesco Nasdaq 100 ETF | — | 30.00% | $307.78 | +0.82% |
| AIQ | Global X Artificial Intelligence & Technology ETF | Information technology | 2.50% | $66.72 | +0.62% |
| CHAT | Roundhill Generative AI & Technology ETF | Information technology | 2.50% | $94.31 | +0.77% |
| SMH | VanEck Semiconductor ETF | Information technology | 2.50% | $607.46 | +1.92% |
| SOXQ | Invesco PHLX Semiconductor ETF | Information technology | 2.50% | $99.83 | +2.04% |
| SHLD | Global X Defense Tech ETF | Defence | 2.50% | $62.25 | −1.47% |
| EUAD | Select STOXX Europe Aerospace & Defense ETF | Defence | 2.50% | $43.00 | −0.72% |
| ROBO | ROBO Global Robotics and Automation Index ETF | Information technology | 1.25% | $81.44 | +1.43% |
| ARKQ | ARK Autonomous Technology & Robotics ETF | Information technology | 1.25% | $126.47 | +0.78% |
| CIBR | First Trust NASDAQ Cybersecurity ETF | Information technology | 1.25% | $102.58 | −0.50% |
| HACK | Amplify Cybersecurity ETF | Information technology | 1.25% | $121.98 | −0.81% |
| COPX | Global X Copper Miners ETF | Mining and quarrying | 10.00% | $89.98 | +2.85% |
| XLE | State Street Energy Select Sector SPDR ETF | Electricity and gas | 2.50% | $61.78 | −1.09% |
| NUKZ | Range Nuclear Renaissance Index ETF | Electricity and gas | 2.50% | $63.40 | +0.14% |
| EMLP | First Trust North American Energy Infrastructure Fund | Electricity and gas | 2.50% | $42.66 | −0.72% |
| NLR | VanEck Uranium and Nuclear ETF | Electricity and gas | 2.50% | $111.95 | +1.10% |
Target weights total: 100.00%
The price column is each ETF’s own delayed price in its US market, in dollars. It is NOT the price of an FTI ETF unit — that one is quoted in tögrög, above.
NAV and market price are not the same number
Two of the three figures above — the traded price and the NAV — describe the same fund on the same day and are set in completely different ways: the NAV by the fund’s valuation, the price by supply and demand on the exchange. They track each other closely, but nothing makes them equal.
A price above NAV means the units trade at a premium; below it, at a discount. The gap comes from that day’s demand, from how thinly the fund trades, and from the two numbers being struck at different times of day.
The fund’s appointed securities firms are there to narrow that gap by creating and redeeming units. The gap does not vanish entirely, and it can be wider for a young fund that trades thinly.
Price against NAV, by day
| Date | Close | NAV | Difference |
|---|---|---|---|
| 2026.09.22 | 1,051₮ | 1,062.05₮ | −1.04% |
| 2026.09.21 | 1,036₮ | 1,054.8₮ | −1.78% |
| 2026.09.18 | 1,035₮ | 1,036₮ | −0.10% |
| 2026.09.17 | 1,019₮ | 1,035.19₮ | −1.56% |
| 2026.09.16 | 1,022₮ | 1,019.4₮ | +0.26% |
| 2026.09.15 | 1,026₮ | 1,022.15₮ | +0.38% |
| 2026.09.14 | 1,036₮ | 1,026.97₮ | +0.88% |
| 2026.09.11 | 1,034₮ | 1,039.45₮ | −0.52% |
| 2026.09.10 | 1,053₮ | 1,033.41₮ | +1.90% |
| 2026.09.09 | 1,059₮ | 1,053.45₮ | +0.53% |
| 2026.09.08 | 1,057₮ | 1,057.36₮ | −0.03% |
| 2026.09.07 | 1,051₮ | 1,052.7₮ | −0.16% |
| 2026.09.04 | 1,051₮ | 1,052.77₮ | −0.17% |
| 2026.09.03 | 1,040₮ | 1,051.19₮ | −1.06% |
| 2026.09.02 | 1,056₮ | 1,040.28₮ | +1.51% |
| 2026.09.01 | 1,058₮ | 1,037.55₮ | +1.97% |
| 2026.08.31 | 1,056₮ | 1,055.15₮ | +0.08% |
| 2026.08.28 | 1,059₮ | 1,058.47₮ | +0.05% |
| 2026.08.27 | 1,059₮ | 1,071.65₮ | −1.18% |
| 2026.08.26 | 1,057₮ | 1,060.72₮ | −0.35% |
| 2026.08.25 | 1,057₮ | 1,059.82₮ | −0.27% |
| 2026.08.24 | 1,057₮ | 1,052.12₮ | +0.46% |
| 2026.08.21 | 1,055₮ | 1,061.31₮ | −0.59% |
| 2026.08.20 | 1,055₮ | 1,050.38₮ | +0.44% |
| 2026.08.19 | 1,053₮ | 1,056.08₮ | −0.29% |
The two legs are not simultaneous: the MSE session closes around midday in Ulaanbaatar, while the fund’s US-listed holdings are valued after that. Treat this as an indication, not as a measure of an arbitrage.
How to buy it
You buy FTI ETF units on the MSE through your own securities firm, exactly as you would buy a share.
- 1
Open an account
Open a trading account with a securities firm. If you already have one, place the order through the firm you deal with.
- 2
Fund the account
Transfer tögrög into your trading account.
- 3
Place the order
Place an order to buy FTI ETF units.
- 4
Receive the units
Once the order fills, the units are registered to your account.
The fund’s appointed securities firms
The exchange’s record names these four securities firms as the fund’s professional participants, and they are listed below exactly as that record writes them, in Mongolian: "ҮЦК ХХК" is a Mongolian legal form, and rendering it as an English suffix would give a regulated firm a name it does not have. If you hold no brokerage account, you can open one with any of them — or with another firm — and place your order there.
- "Голомт капитал" ҮЦК ХХК
- "Ти Ди Би Секьюритис" ҮЦК ХХК
- "Апекс капитал" ҮЦК ХХК
- "Таван Богд капитал" ҮЦК ХХК
Minimum investment
The smallest purchase is one unit, so the minimum investment is whatever one unit costs at the time. The fund’s par value is its issue price, not what you would pay today.
Risks
No guaranteed return
The FTI ETF is not a deposit. No guarantee is given on the capital invested or on any future return. If the assets it holds fall, both the unit valuation and the market price fall with them, and you can lose part of what you put in.
US dollar exchange-rate risk
The 17 ETFs the fund holds are valued in US dollars in the US market. Movements in the tögrög/dollar rate therefore feed straight through into the unit valuation — even on a day when the US market does not move at all.
The history is very short
The fund listed on the MSE recently and has only a handful of trading days behind it. No conclusion about performance can be drawn from a series that short. The "52 week" range on the exchange’s page is in fact a range of a few days, so we do not show it.
It will not replicate the index exactly
Costs, cash balances and rebalancing all pull the fund away from the index. The exchange reports the tracking error as 0.00 and the fund’s site reports a different figure; neither is meaningful this early in a fund’s life, so we publish neither.
Past performance is not a promise
Anything about historical return or market trend is presented for information only and is not a promise about future results. The value of an investment fluctuates with market conditions and economic factors.
The information on this page is for informational purposes only and is not investment advice. It does not substitute for your own independent analysis, valuation and judgement. Make your investment decision on the basis of the fund’s own unit prospectus.
Official sources
- The fund’s own site — etf.mn
The summary prospectus, the full unit prospectus and the fund’s rules and policies are all published there as PDFs.
- The exchange’s record — open.mse.mn
Every price, NAV, cost line and portfolio weight on this page is read from there.