Singapore Exchange (SGX) has just welcomed the listing of Phillip SING Income ETF, an income-focused exchange-traded fund (ETF) offering investors access to a diverse basket of quality Singapore stocks.
Launched by Phillip Capital, who is also the issuer of Phillip SGX APAC Dividend Leaders REIT ETF and Lion-Phillip S-REIT ETF, this fund aims to track and fully replicate the Morningstar Singapore Yield Focus Index. This index comprises 30 blue-chip constituents listed on SGX, from sectors including financials, telecommunications, real estate and industrials.
At the end of the subscription, the fund received strong investor interest with initial assets under management (AUM) of S$68 million. This reflects the growing appetite among the investment community for ETFs with exposure to Singapore-listed companies with strong fundamentals and attractive yields.
Jeffrey Lee, Managing Director and Chief Investment Officer at Phillip Capital Management, said:
We are pleased with the successful launch of the Phillip SING Income ETF, our third Exchange-Traded Fund. It has received overwhelming support from the investing public as it offers regular and significant income. This launch further solidifies our strong position in the Singapore ETF space and we will continue to explore investment solutions to meet the needs of our investors.
Chan Kum Kong, Head of Research and Products, SGX, added:
We are delighted to welcome Phillip SING Income ETF on SGX, boosting the ETF shelf in Singapore managed by Phillip Capital. ETFs are gaining popularity, with SGX-listed ETF AUM growing by 17% to S$4.5 billion last year. The number of direct ETF holders have doubled in the last three years, while the number of investors purchasing ETFs via regular savings programmes is also steadily increasing.
There are a total of 53 ETFs currently listed on SGX, offering exposure to various asset classes including equities, fixed income or commodities across different geographical locations.