ETF

Phillip SGD Money Market ETF

As of 28 October 2020

S$ 100.0180

NAV

As of 28 October 2020

$107,519,523

Total Assets SGD

As of 23 October 2020

0.239%

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

As of 23 October 2020

0.178%

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

FTSE SGD
3 Month SOR Index

PORTFOLIO ALLOCATION

Source: PCM, Bloomberg
Note: Allocation is based on each Index security’s underlying asset value.

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 SGD 3-month SOR Index or any replacement index which references the SORA and provides for the same or substantially similar exposure as the FTSE SGD 3-month SOR Index.

The FTSE SGD 3-month SOR Index is expected to be discontinued as a result of the expected discontinuation of USD LIBOR, following the announcement by the UK regulatory authorities that the benchmark will not be sustained by regulatory powers after the end of 2021. The Singapore Swap Offer Rate (“SOR”) relies on the USD LIBOR in its computation methodology and the likely discontinuation of LIBOR after the end of 2021 directly impacts the future sustainability of the SOR and the FTSE SGD 3-month SOR Index. The Singapore Overnight Rate Average (“SORA”) has been identified by the Association of Banks in Singapore and the Singapore Foreign Exchange Market Committee as the alternative interest rate benchmark for the SOR.

In the event that the SOR is discontinued as mentioned above, the Manager will identify or agree with the Index provider or any other index provider terms for the use of a replacement index which references the SORA and provides for the same or substantially similar exposure as the FTSE SGD 3-month SOR Index. Any such replacement index which may be identified will be notified to Holders via an announcement on SGXNET.

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 SGD 3-month SOR index
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.

Currently N.A.

TRADING INFORMATION

Trading Board Lot Size
5
Trading Name
Phillip MM S$/ Phillip MM US$D
Bloomberg Ticker
SGDPMMS/SGDPMMT
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.

DOCUMENTS

Factsheet

Product Highlight Sheets

Prospectus

Supplementary Prospectus

Annual Report

Semi-Annual Report