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ETF

Phillip SGD Money Market ETF

As of 28 May 2024

S$ 103.641

NAV

As of 28 May 2024

S$ 112,859,970

Total Assets SGD

As of 24 May 2024

3.0358%

Fund Return
(7-day average)
Annualised (p.a)

As of 24 May 2024

3.6797%

Benchmark Return
(7-day average)
Annualised (p.a)

FTSE 3-Month Compounded
Singapore Overnight Rate Average Index

NAV Tracking Error/Difference

0.00% / -0.38%

1-Year Rolling
(as of 30 April 2024)

PERFORMANCE

INVESTMENT OBJECTIVE

The investment objective of this Sub-Fund is to seek to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE 3-month Compounded Singapore Overnight Rate Average Index.

INVESTMENT APPROACH

Phillip SGD Money Market ETF will invest all or substantially all of its assets in high quality debt and money market instruments, and deposits with eligible financial institutions. This may include government and corporate bonds, commercial bills and deposits with financial institutions. This ETF’s approach to enhancing returns is to diversify across deposits of varying tenure. The Manager believes that the use of other high quality debt and money market instruments, which are normally available to large investors will also help to enhance returns for the investor.

KEY FACTS

Fund Name
Phillip SGD Money Market ETF
Benchmark Index
FTSE 3-Month Compounded Singapore Overnight Rate Average (Compounded SORA) Indices
Manager
Phillip Capital Management (S) Ltd
Trustee
HSBC Institutional Trust Services (Singapore) Limited
EIP / SIP Classification
EIP (Excluded Investment Product)
Management Fee
0.10% p.a. with quarterly reset; cap at 0.30%
Valuation
Historical pricing (available T-1 day 9 pm)
Replication Method
N.A.
External Legal Counsel to the Manager
Simmons & Simmons JWS Pte. Ltd.

TRADING INFORMATION

Trading Board Lot Size
1
Trading Name
Phillip MM S$/ Phillip MM US$D
Bloomberg Ticker
SGDPMMS/SGDPMMU
Stock Code
MMS/MMT
ISIN
SGXC85914460
Trading Currency
SGD, USD
Designated Market Makers
Phillip Securities Pte Ltd
Participating Dealers
Phillip Securities Pte Ltd
Creation / Redemption Size (only Participating Dealers)
500 Units (or such higher number of units in multiples of 10 Units). Daily cut-off time 10 a.m.
Listing
Singapore Exchange Securities Trading Limited (“SGX-ST”)

INDEX INFORMATION

Index Provider
FTSE Fixed Income LLC.
Number of Index Securities
N.A.
Rebalancing Frequency
N.A.
Single Security Maximum Weight
N.A.
Ex Dividend Date
29 April 2024
Record Date
30 April 2024
Distribution Payment Date
29 May 2024
Dividend Per Unit
S$0.80

DOCUMENTS

Factsheet

Product Highlights Sheet

Prospectus

Supplementary Prospectus

Supplementary PHS

Annual Report

Semi-Annual Report

VIDEO

Disclaimer & Privacy

FAQ

What is FTSE 3-Month Compounded SORA Index?

The FTSE 3-Month Compounded SORA Index measure the performance of the three-month Singapore Overnight Rate Average (SORA), offering investors a measure of short-term SGD money markets.

SORA is is defined as the volume weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore. The 3-Month Compounded SORA provides reference rates for unsecured interbank SGD transactions in Singapore, compounded over historical 3-Month periods. SORA is owned and administered by Monetary Authority of Singapore (MAS).

The FTSE 3-Month Compounded Singapore Overnight Rate Average (Compounded SORA) Index do not take account of ESG factors in its design.

How does the Index rebalances?

Yes it does. To explain simply: At any time there will be three 3-month SORA, one that matures end of this month, one that matures end of next month, and another one that matures end of next two-month. At this month end, the one matures at end of this month will be replaced with a new one that will mature at end of next 3-month.

What is the difference between ETFs and Unit Trusts?

While both are collective investment schemes (CIS), ETFs seek to replicate the performance of an index by buying underlying securities according to their index weights. Comparatively, unit trusts are actively managed, where the fund manager seeks to outperform the index instead of just replicating its performance. Because of its passive nature, ETFs charge lower management fees thus lowering cost for investors.

As an exchange traded fund, Phillip SGD Money Market ETF allows investors to quickly re-directing investments toward other allocations such as stocks.

What are the trading currencies of this ETF?

The ETF trading currency are SGD and USD.

What makes up the total expense for the ETF?

Phillip SGD Money Market ETF has a low management fee of 0.10% p.a., subject to a quarterly reset (capped at 0.30% p.a.). There are other fees such as index licensing, trustee and auditor fees, etc.

Investors should note that they are subject to their own brokerage fees; and clearing and access fees when dealing in Units on SGX-ST.

What are SGX's access and clearing fees for this ETF?

The clearing fee and SGX access fee for trading Units of  ETFs on the SGX-ST are  typically 0.0325% and 0.0075% of the transaction value respectively and subject to the prevailing goods and services tax (“GST”).

Currently the clearing fee and SGX access fee for trading Units of the Phillip SGD Money Market ETF on the SGX-ST are 0.0001% and 0.0001% of the transaction value respectively and subject to GST.

*Subject to change at SGX-ST’s discretion.

Is this ETF an EIP or SIP?

This ETF is classified as an Excluded Investment Product (EIP).  There is no requisite that investors have to go through Customer Account Review (CAR) to invest in this ETF.

What are the trading name and stock identifiers of the ETF ?

SGX Trading Name PHILLIP MM S$/

PHILLIP MM US$D

SGX Stock Code MMS/ MMT
Bloomberg Ticker SGDPMMS/SGDPMMU
ISIN Code SGXC85914460

Product Summary

Investment Objective  To provide investment results that closely correspond to the performance of FTSE 3-Month Compounded SORA index
Benchmark Index  FTSE 3-Month Compounded Singapore Overnight Rate Average Index
Eligible Country Singapore
Exchange Listing  SGX
Board Lot Size  1 Unit; Initial NAV $100 per Unit
Dividend Distribution  No
Management Fee  Management Fee 0.10% p.a.; subject to quarterly review. Maximum cap at 0.30% p.a.
Manager Phillip Capital Management (S) Ltd
Designated Market Maker  Phillip Securities Pte Ltd
Participating Dealer Phillip Securities Pte Ltd
Fund Administrator  HSBC Institutional Trust Services (Singapore) Limited
Custodian  The Hongkong and Shanghai Banking Corporation Limited

How to Subscribe?

As this is an Exchange Traded Fund, existing units can be traded easily like normal stock at Singapore Exchange over lots of 100 units. Normal stock trading procedure can be followed to buy and sell units. No sales charges apply. However, respective brokerage charges may apply.

To subscribe to new units, the following participating dealers can be contacted:

 

Phillip Securities Pte Ltd

Phone: +65 65311555

Website: https://www.poems.com.sg/phillip-sgd-moneymarket-etf/