SGX ETF market hits record S$16.3 billion AUM in Q3 on strong gold, Reit demand
It records net inflows of S$736 million in the quarter, bringing the total to S$1.4 billion in the year to date
[SINGAPORE] The exchange-traded fund (ETF) market on the Singapore Exchange (SGX) hit a record high S$16.3 billion in assets under management (AUM) as at end-September. This marked a 40 per cent year-on-year increase, the local bourse’s third-quarter ETF Market Highlights report indicated.
The market recorded robust net inflows of S$736 million in Q3. Together with the S$700 million recorded in the first half of 2025, this brought the net inflows in the year to date to S$1.4 billion.
The growth was driven by strong demand across all four main asset classes: equities, fixed income, real estate investment trusts (Reits) and gold, noted the report, which was released on Tuesday (Oct 28).
Trading activity in the quarter surged, with the average daily turnover for ETFs climbing 68 per cent year on year to S$31 million. Fixed income and gold ETFs recorded the most significant jumps in trading, with increases of 204 per cent and 112 per cent, respectively.
September also posted a five-year high in monthly turnover, surpassing levels last seen in March 2020.
Gold shines as top-traded ETF
Amid investor uncertainty and global volatility, gold ETFs were a preferred choice. SPDR Gold Shares ranked as the top ETF for net inflows in Q3.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
This ETF tracks the performance of gold bullion, with the LBMA Gold Price PM as its underlying index. It provides investors with direct exposure to gold prices without the need to hold physical metal.
SPDR Gold Shares’ AUM soared to S$3.2 billion as at end-September, attracting inflows of S$628 million in the year to date. It was also the most actively traded ETF during the quarter, with S$6.3 million in average daily turnover.
Reit ETFs reach new peak
Investors also piled into Reit ETFs in Q3, supported by Singapore’s declining interest-rate environment.
The Reit ETF segment attracted S$197 million in quarterly inflows, pushing its total AUM to a new high of S$1.4 billion, a 38 per cent year-on-year increase.
Lion Phillip S-Reit remains the largest SGX-listed Reit ETF, with AUM of S$680 million as at end-September.
Spotlight on Singapore dollar assets and new listings
There was strong momentum in Singapore-focused ETFs as well, with S$788 million in quarterly inflows recorded.
Singapore-dollar fixed-income ETFs led the inflows, pulling in S$426 million in Q3. They were followed by Singapore-focused Reit ETFs with S$197 million, and Singapore equity ETFs with S$166 million.
Amid declining T-bill rates, investors are exploring alternatives. Among them is the newly launched LionGlobal Short Duration Bond ETF, Singapore’s first actively managed bond ETF. It raised S$141 million during its initial offer period.
Two other ETFs also debuted in Q3:
- Amova E Fund ChiNext Index ETF: The first Singapore dollar-hedged China A-shares ETF, offering access to companies on the ChiNext board.
- SPDR JPM Saudi Arabia Bond ETF: This grants exposure to Saudi Arabia’s fixed-income market, including sovereign instruments and sukuk government bonds.
The total number of ETFs listed on the SGX now stands at 50.
Among Singapore equity ETFs, Lion-OCBC Securities Singapore Low Carbon was the top performer in Q3 with a total return of 14.8 per cent.
The sustainability-linked ETF offers exposure to 40 Singapore-incorporated or domiciled companies with a lower carbon footprint. SGX’s report also noted it was the best-performing Singapore equity ETF over one-year and three-year periods.
Copyright SPH Media. All rights reserved.
