SGX welcomes Phillip SING Income ETF

It has $68m initial assets under management (AUM).

Singapore Exchange (SGX) welcomed the listing of Phillip SING Income exchange-traded fund (ETF) which offers investors access to quality Singapore stocks, an announcement revealed.

The fund aims to track and fully replicate the Morningstar Singapore Yield Focus Index which comprises of 30 ‘blue-chip constituents’ listed on SGX from sectors including financials, real estate and telecommunications, the statement said.

It received strong investor interest with an initial AUM of $68m at the end of the subscription which reflects the growing appetite among the investment community for ETFs with exposure to Singapore-listed companies with strong fundamentals and attractive yields, SGX said.

“ETFs are gaining popularity, with SGX-listed ETF AUM growing by 17% to $4.5b last year,” SGX’s head of research and products Chan Kum Kong said. “The number of direct ETF holders have doubled in the last three years, whilst the number of investors purchasing ETFs via regular savings programmes is also steadily increasing.”

The fund was launched by Phillip Capital which also issued Phillip SGX Dividend Leaders REIT ETF and Lion-Phillip S-REIT ETF.

It is now amongst the 53 exchange-traded funds (ETFs) listed on SGX.