Here’s a new ETF to invest in By Gwyneth Yeo
SINGAPORE (Oct 6): Phillip Capital Management has launched its first exchange traded fund (ETF),
Phillip SGX APAC Dividend Leaders REIT ETF, with an initial offer period from Oct 5 to Oct 13.
The REITs ETF, which will track the recently launched SGX APAC Ex-Japan Dividend Leaders REIT Index, comprises the top 30 REITs listed across the Asia Pacific exchanges excluding Japan, ranked according to the total dividend paid in the preceding 12 months to their unit-holders.
The REIT Index thus represents more than
70% of the region’s REITs by total market capitalisation, and takes into account the REITs’ size, free-float market capitalisation and liquidity.
Jeffrey Lee, Managing Director and Chief Investment Officer at Phillip Capital Management, said in a release that the new ETF acts as a “proxy to long term economic growth in Asia driven by rising income and increasing urbanisation”.
It also provides investors with a “transparent and low cost access” to a portfolio of REITs that offer a sustainable dividend income.
Phillip Capital Management is one of the largest, non-bank backed local fund managers in Singapore, with $1.4 billion of assets under management, and is a prominent investor in the Asian REIT asset class. It manages the first and only Singapore REITs fund, the Phillip Singapore Real Estate Income Fund.
The ETF will trade on the Singapore Exchange from Oct 20, in both Singapore dollars and US dollars. The indicative issue price of each unit during the initial offer period is expected to range from US$0.880 to US$1.100 for the primary currency of USD and $1.188 to $1.485 for the secondary currency of SGD, based on the exchange rate of 1.35.
The ETF also plans to make dividend distributions semi-annually, subject to Phillip Capital Management’s discretion.
Source: The Edge
http://smr.theedgemarkets.com/article/h ... etf-invest
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