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Phillip SGD money market ETF debuts on SGX with initial AUM of $100m

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SINGAPORE (THE BUSINESS TIMES) - The first Singapore-domiciled money market exchange-traded fund (ETF) started trading on Monday (Oct 5) with $100 million in initial assets under management (AUM), the Singapore Exchange (SGX) said.. Read more at straitstimes.com.

SINGAPORE - The first Singapore-domiciled money market exchange-traded fund started trading on Monday with $100 million in initial assets under management , the Singapore Exchange said.

The product tracks closely the performance of the FTSE SGD three-month Singapore dollar swap offered rate Index, which is a measure of implied interest rate. Meanwhile, individual investors can deploy the fund as a"more efficient management of cash relative to their banks' savings accounts", SGX noted.

Said Linus Lim, director and chief executive officer of Phillip Capital Management:"With Phillip SGD Money Market ETF, investors will be able to improve the yield pick-up on their funds without compromising on liquidity and manage their core investments through a single brokerage account.

 

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