Singapore firm plans dividend ETF launch

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The Singapore-focused equity income product would be the second ETF launched in the Lion City this year, according to data from the Singapore Exchange.

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Phillip Capital Management is awaiting approval from the Monetary Authority of Singapore for a passive equity product, the Phillip Sing Income ETF, according to the regulator’s records.

In July, the firm submitted an application for the ETF to the Singapore Exchange and has received a letter of eligibility from the local bourse, the firm noted in its prospectus.

The ETF aims to replicate the performance of the Morningstar Singapore Dividend Yield Focus Tilt 30 Index, according to the prospectus. The fund is suitable for investors who want capital growth and regular income in the form of dividends.

FSA sought more information from Phillip Capital, but the firm was not able to give more details in time for publication.

If launched, the product would be the firm’s second ETF. The other ETF is the SGX APAC Dividend Leaders REIT ETF, which was listed in 2016 and tracks the performance of 30 publicly-traded REITs in the Asia-Pacific (ex-Japan) region, according to the firm’s website.

The firm also manages eight funds in Singapore and sub-advises on another, the Lion-Phillip S-REIT ETF, which was co-launched with Lion Global Investors last year.

In total, there are 51 ETFs listed on the Singapore exchange, with 10 firms managing the passives as of the end of July, according to data from the local bourse.

Including the offshore universe of funds available for sale in Singapore, ETFs number 383 compared to 123 distributed in Hong Kong, according to FE.

This year, the only other ETF that launched in Singapore was Nikko AM’s SGD Investment Grade Corporate Bond ETF, which was made available to investors last month.

 

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