0.897% / 1.320%
(as of 30 September 2021)
as of 31 August 2021
Out of 1167 Real Estate Sector Equity Funds as of 29-07-21.
Based on 97% of AUM. Data is based on long positions only
View FAQ section for important disclosures for Morningstar-related ratings*
INVESTMENT OBJECTIVE & FOCUS
The investment objective of the Fund is to seek to provide a high level of income and moderate long-term capital appreciation by tracking, as closely as possible, before expenses, the performance of the iEdge APAC Ex-Japan Dividend Leaders REIT Index (the “Index”).
By tracking the Index which is ranked and weighted by total dividends, the Fund aims to enhance risk-adjusted returns above that of traditional market capitalisation-weighted indices as the 30 REITs comprising the Index will be ranked and weighted according to the highest total dividends paid in the preceding 12 months subject to size, free-float market capitalisation and liquidity constraints.
In managing the Fund, the Manager may adopt either a Replication Strategy or a Representative Sampling Strategy at its discretion. As the Fund is an index-tracking fund, it is expected that the Fund will only invest in REITs.
The Fund is classified as an EIP (Excluded Investment Product).
|Dividend Payout From||Capital||Income|
The iEdge APAC Ex-Japan Dividend Leaders REIT Index is an index offering by Singapore Exchange (SGX).The entire Asia-Pacific Ex-Japan REIT universe is screened for factors such as size, free-float and liquidity so as to arrive at a tradable and liquid basket. The liquid basket is then refined further by selecting the top 30 stocks ranked by total dividends paid in order to form the Index. The Index itself is then weighted by total dividends paid such that stocks with the larger total dividend paid have a greater
weight within the index.
The following factors will be used in the index construction process
Total dividends paid: Counters in the Universe are screened by total dividend paid in the preceding 12 months.
Free-float market capitalisation: New constituents must meet a minimum median free-float market capitalisation of US$300M, measured at each index review date. Existing constituents must meet a minimum median free-float market capitalisation of US$240M, measured at each index review date.
Daily traded volume: New constituents must meet a minimum median DTV of US$400,000, measured at each
index review date. Existing constituents must meet a minimum DTV of US$320,000.
Security weights are capped at 10% to avoid excessive security concentration.
© 2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Morningstar® Essentials Quantitative (Star Rating)
For more detailed information about the Morningstar Rating, including its methodology, please go to: https://s21.q4cdn.com/198919461/files/doc_downloads/othe_disclosure_materials/MorningstarRatingforFunds.pdf
Morningstar® Essentials Sustainability
Sustainability Score as of 30 April 2021. Sustainability Rating as of 30 April 2021.
Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score.
For more detailed information about Morningstar’s Sustainability, including its methodology, please go to: https://www.morningstar.com/content/dam/marketing/shared/Company/Trends/Sustainability/Detail/Documents/SustainabilityRatingMethodology2019.pdf?cid=AEM_RED0016
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.
There are two main methods to which ETF units can be transact;
1) apply for creation or redemption of units from the primary market through an approved Participating Dealer, or
2) buy or sell the units from the secondary market through the Singapore Exchange (SGX-ST) when the units are listed.
The Initial Offer Period will open at 9.00 a.m. on 1st October 2018 and close at 11:00 a.m. on 19th October 2018. The Issue Price of each Unit during the Initial Offer Period is S$1.000. During the Initial Offer Period, investors may only purchase units through the Participating Dealers in application unit size of 50,000 units or such higher number of units in multiples of 1,000 units. All purchases or sales of units through the Participating Dealers are subject to such terms and conditions as may be imposed by the relevant Participating Dealer. The Participating Dealers may set a lower minimum amount for retail investors.
Participating Dealer for this ETF:
Phillip Securities Pte Ltd
This ETF focuses on listed companies in the REIT sector in APAC ex-Japan markets. Regions from the following regions are eligible for inclusion:
The ETF trading currencies are USD and SGD.
Apart from management fees of the current 0.30% p.a. (maximum 0.80% p.a.), there are other fees such as index licensing, trustee and auditor fees, etc. Based on figures in the Fund’s latest audited
accounts) for the financial period ended 30 September 2019 is 1.18%.
Yes. It is classified as an EIP and investor can invest like the ordinary stocks without having the need to complete a Customer Account Review (CAR) or SGX online Education Programme.
Yes, investors can apply with their stockbrokers or SRS operator to invest via SRS.
No, the Fund is currently not included under the CPFIS.
The Manager will endeavour to declare semi-annual distributions in June and December each year in respect of the Fund. Distributions, if any, will be payable within two months after the end of each semi-annual period of each year. However, investors should note that such distribution is not guaranteed and is subject to all times to the discretion of the Manager. There is currently no dividend reinvestment service.
As the ETF is domiciled in Singapore, tax exemptions will apply to distributions and capital gains received by individual unitholders.
For the underlying constituents in the index, taxable income from REITs are currently subject to dividend withholding tax of 17 per cent at the ETF level. Distributions made by the ETF to all investors will not attract Singapore withholding tax.
Certain actions or corporate events (e.g. mergers and acquisitions, voluntary administration) may cause a stock to be suspended for a period while residing within an equity index. The Index Provider will keep suspended stocks within the Index for up to one calendar month from the date of suspension. Typically, stocks are removed from the Index if they do not resume trading within one calendar month from the suspension of trade. The impact of stock suspensions on the index performance may vary, depending on circumstances. The Fund Manager will still seek to track the investment results of the Index, and will not seek temporary aggressive or defensive positions that are reflective of market appearance.
The Manager takes into account some factors to make informed decisions about the most efficient way to manage corporate actions (such as mergers and acquisitions, rights issues, spin-offs, stock splits or the receipt of interest/dividends). Corporate actions may generate trading costs or other implicit costs related to the corporate activity in the underlying investment.
To give a couple of examples:
Dividends paid by the underlying stocks of the ETF are reinvested by the Manager, as keeping them in the portfolio would create a cash drag on the fund performance.
A rights issue is an offer to existing holders of securities where they are given the right to subscribe for additional new securities at a given subscription price. Where the subscription price is lower than the prevailing market price, the Manager will accept the rights in full and may have to sell existing shares in the portfolio to do so, depending on the capacity of the ETF. The Manager will base its decisions on a range of factors such as fund costs and the risk-return profile of the portfolio (so that it remains within reasonable limits compared to the underlying Index).
Regarding the Index, the treatment of all corporate actions, corporate events, and general events are fully described in the Morningstar Indexes Corporate Actions Methodology. The document acts as a reference point for index stakeholders that are required to make adjustments as a result of corporate activity that could affect the underlying composition of an equity index.
ETFs have three levels of liquidity across the primary and secondary markets. On-screen volume (Average Daily Trading Volume) reflects only the volume of trades executed in the secondary market exchanges on which the ETFs trade. Large sum transactions mostly traded off exchanges i.e. over-the –counter (OTC). Most of the liquidity from the underlying securities does reflect the ETF’s liquidity as well
Source: Commerzbank, PCM
|SGX Trading Name||PHIL SING INC|
|SGX Stock Code||OVQ|
|Bloomberg Ticker||SINGINC SP|
|Investment Objective||to provide a high level of income and moderate long-term capital appreciation by tracking, as closely as possible, before expenses, the performance of the iEdge APAC Ex-Japan Dividend Leaders REIT Index.|
|Benchmark Index||iEdge APAC Ex-Japan Dividend Leaders REIT Index|
|Index Methodology||The iEdge APAC ex-Japan Dividend Leaders REIT Index screens for top 30 REITs in the Index Universe by total dividends paid in the preceding 12 months, subject to size, free-float market capitalisation and liquidity constraints.|
|ETF Replication Method||Physical replication or representative sampling|
|Management Fee||Management Fee 0.30% p.a. Maximum cap at 0.80% p.a.|
|Manager||Phillip Capital Management (S) Ltd|
|Designated Market Makers||Phillip Securities Pte Ltd and Societe Generale|
|Participating Dealer||Phillip Securities Pte Ltd, Flow Traders Asia Pte Ltd|
|Fund Administrator||DBS Bank Limited|
|Custodian||The Hongkong and Shanghai Banking Corporation Limited|
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
With effect from 1st July 2014, this FATCA Notice (the “Notice”) forms part of the terms and conditions of our products and services (the “Terms and Conditions”) governing your relationship (“you”, “your”, “yours” referred to herein include joint-account holders and beneficiary holders of an entity who are a natural person) with Phillip Capital Management (S) Ltd and its related corporations (collectively referred to herein as “PCM”, “us”, “we” or “our”) and should be read in conjunction with those Terms and Conditions, including those under our Personal Data Protection Notice.The existing terms and conditions of any contractual agreement entered into between PCM a nd you (the “Existing Terms and Conditions”) remain in full force and effect. In the event of any conflict or inconsistency between the provisions of this Notice and those of the Existing Terms and Conditions, the provisions of this Notice shall prevail.
We may from time to time update the Terms and Conditions listed here to ensure their consistency with our future developments,industry trends and/or any changes in legal or regulatory requirements. Such updates will be published at http://www.phillipfunds.com/ .
This Website, its services and contents are provided for your use by PhillipCapital, which is a group of companies who together offer a full range of financial services to retail, corporate and institutional customers. Member companies in Singapore include Phillip Securities Pte Ltd, Phillip Securities Research Pte Ltd, Phillip Financial Pte Ltd, Phillip Futures Pte Ltd, Phillip Trading Pte Ltd, Phillip Capital Management (S) Ltd, Phillip Private Equity Pte Ltd, Phillip Japan Fund Management Pte Ltd, CyberQuote Pte Ltd, IFS Capital Limited and ECICS Limited. Member companies can otherwise be identified by their authorised use of PhillipCapital brand name along with their own name in their documentation and literature.
The contents of this website are provided to you for general information only and should not be used as a recommendation or basis for making any specific investment, business or commercial decision. These pages should not be construed as a recommendation, an offer or solicitation for the subscription, purchase or sale of the securities, and specifically funds or any investment products, mentioned herein, or, in any jurisdiction to any person to whom it is unlawful to make such an invitation or solicitation in such jurisdiction. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of you acting based on this information. Unit trusts distributed by Phillip Securities Pte Ltd are not obligations of, deposits in, or guaranteed by, Phillip Securities Pte Ltd or any of its affiliates. All applications for units in a unit trust must be made on application forms accompanying the relevant prospectus. You should read the prospectus before deciding to subscribe for units in the respective fund. A copy of the prospectus can be obtained from Phillip Securities Pte Ltd or online at www.poems.com.sg/unittrust.
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