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

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THE first Singapore-domiciled money market exchange-traded fund (ETF) started trading on Monday with S$100 million in initial assets under management (AUM), the Singapore Exchange (SGX) said. Read more at The Business Times.

It added that the fund attracted"strong interest" from investors, demonstrating demand for the only money market ETF in South-east Asia.

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. "We believe this will make a straightforward cash management tool for corporate treasurers and investors."

Michael Syn, head of equities at SGX, said the bourse is pleased to expand SGX's suite of fixed income ETFs at a time when investors are facing a"prolonged low-yield environment across international markets".For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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