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Phillip SING Income ETF makes Singapore bourse debut
PHILLIPCAPITAL'S third exchange-traded fund (ETF), which tracks the 30-stock Morningstar Singapore Yield Focus Index, started trading on the Singapore Exchange (SGX) on Monday.
The income-focused Phillip SING Income ETF made its debut at S$1.005 at the opening bell and was trading at S$1.002 as at 9.55am.
Units were offered at an issue price of S$1.000 apiece during the initial offer period from Oct 1 to 29.
The fund had S$68 million in initial assets under management (AUM) at the close of subscription.
Chan Kum Kong, head of research and products at the SGX, said in a media statement: "ETFs are gaining popularity, with SGX-listed ETF AUM growing by 17 per cent 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."
PhillipCapital has previously issued two other Singapore-listed ETFs: the Phillip SGX APAC Dividend Leaders Reit ETF and Lion-Phillip S-Reit ETF. The SGX plays host to 53 ETFs in all.