Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Asia’s leading multi-asset exchange

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Equity Bottom-Up

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<ul>
<li>
In 1Q 2020, total turnover of ETFs listed on SGX hit a nine-year high of S$1.8 billion. In the quarter, the five most active ETFs were SPDR® Gold Shares ETF, SPDR® STI ETF, Lyxor China Enterprise (HSCEI) UCITS ETF, Lion-Phillip S-REIT ETF, and NikkoAM-StraitsTrading Asia ex Japan REIT ETF. They generated a total turnover of S$1.3 billion, up more than five-fold YoY. 
	 </li>
	<li>
In 1Q, the SPDR® Gold Shares ETF generated the highest turnover of S$580 million among the ETFs listed on SGX, up nearly five-fold YoY. As consistently flagged by the World Gold Council, bullion has always been viewed as a haven asset, particularly in times of increased market volatility. 
	 </li>
	<li>In 1Q, the SPDR® STI ETF was the second most active ETF on SGX with a turnover of S$456 million, up nearly six-fold YoY. As the benchmark STI trades near multi-year lows, more investors are using STI-tracking ETFs as a vehicle to gain instant exposure to Singapore’s top 30 blue chips.</li>
</ul>
 

In the January-March quarter 2020, total turnover of ETFs listed on SGX hit a nine-year high of S$1.8 billion. During the first quarter, the five most active ETFs were SPDR® Gold Shares ETF, SPDR® STI ETF, Lyxor China Enterprise (HSCEI) UCITS ETF, Lion-Phillip S-REIT ETF, and NikkoAM-StraitsTrading Asia ex Japan REIT ETF. In 1Q 2020, these five ETFs generated a total turnover of S$1.3 billion, up more than five-fold from the total turnover of S$243 million in 1Q 2019. 
 

<table class="table table-striped"><tbody>
<tr>
<td>
			Name
			</td>
			<td>
			SGX Code
			</td>
			<td>
			1Q2020 Turnover (S$M)
			</td>
			<td>
			1Q2019 Turnover (S$M)
			</td>
			<td>
			YoY Change (%)
			</td>
		</tr>
<tr>
<td>
			SPDR® Gold Shares ETF
			</td>
			<td>
			 O87
			</td>
			<td>
			580
			</td>
			<td>
			118
			</td>
			<td>
			392
			</td>
		</tr>
<tr>
<td>
			SPDR® Straits Times Index ETF
			</td>
			<td>
			ES3
			</td>
			<td>
			456
			</td>
			<td>
			80
			</td>
			<td>
			468
			</td>
		</tr>
<tr>
<td>
			Lyxor China Enterprise (HSCEI) UCITS ETF 
			</td>
			<td>
			P58
			</td>
			<td>
			114
			</td>
			<td>
			1
			</td>
			<td>
			10,812
			</td>
		</tr>
<tr>
<td>
			Lion-Phillip S-REIT ETF
			</td>
			<td>
			CLR
			</td>
			<td>
			67
			</td>
			<td>
			24
			</td>
			<td>
			176
			</td>
		</tr>
<tr>
<td rowspan="2">
			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			</td>
			<td>
			CFA
			</td>
			<td rowspan="2">
			63
			</td>
			<td rowspan="2">
			20
			</td>
			<td rowspan="2">
			222
			</td>
		</tr>
<tr>
<td>
			COI
			</td>
		</tr>
<tr>
<td>
			Total
			</td>
			<td>
			 
			</td>
			<td>
			1,280
			</td>
			<td>
			243
			</td>
			<td>
			 
			</td>
		</tr>
</tbody></table>
 

<table class="table table-striped"><tbody>
<tr>
<td>
			Name
			</td>
			<td>
			SGX Code
			</td>
			<td>
			Total Return YTD (%)
			</td>
			<td>
			Total Return 1Y (%)
			</td>
			<td>
			Total Return 3Y (%)
			</td>
			<td>
			Total Return 5Y (%)
			</td>
		</tr>
<tr>
<td>
			SPDR® Gold Shares ETF
			</td>
			<td>
			 O87
			</td>
			<td>
			7.7
			</td>
			<td>
			26.2
			</td>
			<td>
			8.7
			</td>
			<td>
			5.9
			</td>
		</tr>
<tr>
<td>
			SPDR® Straits Times Index ETF
			</td>
			<td>
			ES3
			</td>
			<td>
			-20.9
			</td>
			<td>
			-20.3
			</td>
			<td>
			-3.9
			</td>
			<td>
			-2.7
			</td>
		</tr>
<tr>
<td>
			Lyxor China Enterprise (HSCEI) UCITS ETF 
			</td>
			<td>
			P58
			</td>
			<td>
			-13.2
			</td>
			<td>
			-14.7
			</td>
			<td>
			0.3
			</td>
			<td>
			-4.4
			</td>
		</tr>
<tr>
<td>
			Lion-Phillip S-REIT ETF
			</td>
			<td>
			CLR
			</td>
			<td>
			-21.4
			</td>
			<td>
			-12.6
			</td>
			<td>
			NA
			</td>
			<td>
			NA
			</td>
		</tr>
<tr>
<td rowspan="2">
			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			</td>
			<td>
			CFA
			</td>
			<td>
			-19.6
			</td>
			<td>
			-15.4
			</td>
			<td>
			3.0
			</td>
			<td>
			NA
			</td>
		</tr>
<tr>
<td>
			COI
			</td>
			<td>
			-23.9
			</td>
			<td>
			-19.5
			</td>
			<td>
			NA
			</td>
			<td>
			NA
			</td>
		</tr>
</tbody></table>
 

<table class="table table-striped"><tbody>
<tr>
<td>
			Name
			</td>
			<td>
			SGX Code
			</td>
			<td>
			12M Div Yld (%)
			</td>
			<td>
			Expense Ratio (%)
			</td>
			<td>
			Fund Size (S$M)
			</td>
			<td>Underlying Index</td>
		</tr>
<tr>
<td>
			SPDR® Gold Shares ETF
			</td>
			<td>
			 O87
			</td>
			<td>
			NA
			</td>
			<td>
			0.4
			</td>
			<td>
			74,515
			</td>
			<td>Straits Times Index</td>
		</tr>
<tr>
<td>
			SPDR® Straits Times Index ETF
			</td>
			<td>
			ES3
			</td>
			<td>
			4.7
			</td>
			<td>
			0.3
			</td>
			<td>
			894
			</td>
			<td>Straits Times Index</td>
		</tr>
<tr>
<td>
			Lyxor China Enterprise (HSCEI) UCITS ETF 
			</td>
			<td>
			P58
			</td>
			<td>
			NA
			</td>
			<td>
			0.7
			</td>
			<td>
			505
			</td>
			<td>Hang Seng China Enterprises Index Net Total Return Index</td>
		</tr>
<tr>
<td>
			Lion-Phillip S-REIT ETF
			</td>
			<td>
			CLR
			</td>
			<td>
			6.4
			</td>
			<td>
			0.6
			</td>
			<td>
			145
			</td>
			<td>Morningstar® Singapore REIT Yield Focus Index℠</td>
		</tr>
<tr>
<td rowspan="2">
			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			</td>
			<td>
			CFA
			</td>
			<td>
			5.3
			</td>
			<td>
			0.6
			</td>
			<td>
			220
			</td>
			<td>FTSE EPRA Nareit Asia ex Japan Net Total Return REIT Index</td>
		</tr>
<tr>
<td>
			COI
			</td>
			<td>
			5.5
			</td>
			<td>
			0.6
			</td>
			<td>
			220
			</td>
			<td>FTSE EPRA Nareit Asia ex Japan Net Total Return REIT Index</td>
		</tr>
</tbody></table>
 Source: Bloomberg &amp; SGX (data as of 8 Apr 2020)

As consistently flagged by the <a href="https://www.gold.org/">World Gold Council</a>, gold has always been viewed as a haven asset, particularly in times of increased market volatility. The precious metal also plays an important role in portfolio diversification. In a <a href="https://www.gold.org/download/file/14744/Gold-price-pullback.pdf">report</a> published on 19 March 2020, the WGC noted that decelerating economic growth will impact consumer demand for gold, and volatility for the precious metal may remain high, but widespread negative real rates and quantitative easing would continue to boost bullion’s role as an investment haven.

In 1Q, <a href="http://www.spdrgoldshares.com/singapore/">SPDR® Gold Shares ETF</a> generated the highest turnover of S$580 million among the ETFs listed on SGX, up nearly five-fold YoY. The ETF provides investors with an innovative, relatively cost-efficient and secure way to access the gold market. The ETF aims to lower many barriers that prevent some investors from investing in bullion, including the logistics of buying, storing and insuring the commodity. In addition, certain pension funds and mutual funds do not or cannot hold physical commodities or the derivatives. The ETF is set up to reflect the performance of bullion, less the fund’s expenses. It tracks the London Bullion Market Association (LBMA) PM Gold Price, and the physical bullion is kept in the form of London Good Delivery bars.

As the benchmark Straits Times Index (STI) trades near multi-year lows, more investors are using STI-tracking ETFs as a vehicle to gain instant exposure to Singapore’s top 30 blue chips. The <a href="https://www.spdrs.com.sg/etf/fund/spdr-straits-times-index-etf-ES3.html">SPDR® STI ETF</a>, unveiled in 2002, is managed by State Street Global Advisors, while the <a href="https://www.nikkoam.com.sg/etf/sti">Nikko AM STI ETF</a>, launched in 2009, is managed by DBS subsidiary Nikko Asset Management. Benefits of investing in the STI ETF include gaining exposure to the 30 constituents of the benchmark index through a single purchase and at a very low cost. Over the longer term, the returns can be sizeable.

During the first quarter of the year, the SPDR® STI ETF was the second most active ETF on SGX with a turnover of S$456 million, up nearly six-fold YoY. In March 2020, the SPDR® STI ETF and NikkoAM Singapore STI ETF also saw total net creation of S$228.6 million, up more than five-fold from February’s total net creation of S$42.7 million.

<table class="table table-striped"><tbody>
<tr>
<td> </td>
			<td colspan="3">
			Net Creation (S$M)
			</td>
		</tr>
<tr>
<td>
			Name
			</td>
			<td>
			Jan-20
			</td>
			<td>
			Feb-20
			</td>
			<td>
			Mar-20
			</td>
		</tr>
<tr>
<td>
			SPDR® Straits Times Index ETF
			</td>
			<td>
			0.3
			</td>
			<td>
			34.6
			</td>
			<td>
			205.8
			</td>
		</tr>
<tr>
<td>
			NikkoAM Singapore STI ETF
			</td>
			<td>
			8.0
			</td>
			<td>
			8.1
			</td>
			<td>
			22.8
			</td>
		</tr>
<tr>
<td>
			Total
			</td>
			<td>
			8.3
			</td>
			<td>
			42.7
			</td>
			<td>
			228.6
			</td>
		</tr>
</tbody></table>
 
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<figure>
 <img src='https://api2.sgx.com/sites/default/files/2020-04/STI%20ETFs%20-%20Net%20Creation.PNG' alt='STI ETF' />
 </figure>
 <div class='content-caption'>STI ETF</div>
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The <a href="https://www.lyxoretf.com.sg/en/retail/products/equity-etf/lyxor-china-enterprise-hscei-ucits-etf-usd/lu1900069136/usd">Lyxor China Enterprise (HSCEI) UCITS ETF</a> was the third-most active ETF on SGX during the quarter with a turnover of S$114 million. The ETF is one of five China-focused ETFs on SGX seeking to replicate the total returns of major equity market indices in China. Its underlying index is Hang Seng China Enterprises Index Net TRN Index, which tracks H-Shares listed on the Hong Kong Stock Exchange and included in the Hang Seng Mainland Composite Index. With Hong Kong stocks trading at or near all-time lows following weeks of market volatility, bargain-hunting activity has begun returning to the market. Last week, the government also unveiled measures worth HK$137.5 billion to bolster the domestic economy.

SGX lists three REIT ETFs – <a href="http://www.phillipfunds.com/home/etfs">Phillip SGX APAC Dividend Leaders REIT ETF</a>, <a href="https://www.nikkoam.com.sg/etf/asia-ex-japan-reit-sgd">NikkoAM-StraitsTrading Asia ex-Japan REIT ETF</a>, and <a href="http://www.lionglobalinvestors.com/en/funds/lion-phillip-s-reit-etf/index.html#dashBoard?fcode=LEPF">Lion-Phillip S-REIT ETF</a>. The Lion-Phillip S-REIT ETF and NikkoAM-StraitsTrading Asia ex Japan REIT ETF were the fourth and fifth most active ETFs on SGX during the March quarter. In the month of March, the NikkoAM-StraitsTrading Asia ex Japan REIT ETF and the Lion-Phillip S-REIT ETF also saw a combined net creation of S$33.3 million, more than double the combined net creation of S$16.6 million for these two ETFs in February.

<table class="table table-striped"><tbody>
<tr>
<td> </td>
			<td colspan="3">
			Net Creation (S$M)
			</td>
		</tr>
<tr>
<td>
			Name
			</td>
			<td>
			Jan-20
			</td>
			<td>
			Feb-20
			</td>
			<td>
			Mar-20
			</td>
		</tr>
<tr>
<td>
			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			</td>
			<td>
			3.2
			</td>
			<td>
			16.0
			</td>
			<td>
			17.9
			</td>
		</tr>
<tr>
<td>
			Lion-Phillip S-REIT ETF
			</td>
			<td>
			3.7
			</td>
			<td>
			0.6
			</td>
			<td>
			15.4
			</td>
		</tr>
<tr>
<td>
			Phillip SGX APAC Dividend Leaders REIT ETF
			</td>
			<td>
			0.6
			</td>
			<td>
			0.0
			</td>
			<td>
			0.0
			</td>
		</tr>
<tr>
<td>
			Total
			</td>
			<td>
			7.6
			</td>
			<td>
			16.6
			</td>
			<td>
			33.3
			</td>
		</tr>
</tbody></table>
</body></html>

<figure>
 <img src='https://api2.sgx.com/sites/default/files/2020-04/REIT%20ETF.PNG' alt='REIT ETF' />
 </figure>
 <div class='content-caption'>REIT ETF</div>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd">
<html><body>Launched by Nikko Asset Management and Straits Trading Company in March 2017, the NikkoAM-StraitsTrading Asia ex-Japan REIT ETF tracks the FTSE EPRA/NAREIT Asia ex-Japan REITs Index. SGX-listed REITs make up 70% of the fund, while REITs from the rest of the Asian countries, including Hong Kong, China and Malaysia, comprise the remaining 30%. The Lion-Phillip S-REIT ETF, rolled out by Lion Global Investors and Phillip Capital Management in October 2017, tracks the Morningstar® Singapore REIT Yield Focus Index. This is the first REIT ETF in the world with Singapore REITs accounting for 100% of its constituents.</body></html>





In 1Q 2020, total turnover of ETFs listed on SGX hit a nine-year high of S$1.8 billion. In the quarter, the five most active ETFs were SPDR® Gold Shares ETF, SPDR® STI ETF, Lyxor China Enterprise (HSCEI) UCITS ETF, Lion-Phillip S-REIT ETF, and NikkoAM-StraitsTrading Asia ex Japan REIT ETF. They generated a total turnover of S$1.3 billion, up more than five-fold YoY. 
	 
	
In 1Q, the SPDR® Gold Shares ETF generated the highest turnover of S$580 million among the ETFs listed on SGX, up nearly five-fold YoY. As consistently flagged by the World Gold Council, bullion has always been viewed as a haven asset, particularly in times of increased market volatility.  
	 
	In 1Q, the SPDR® STI ETF was the second most active ETF on SGX with a turnover of S$456 million, up nearly six-fold YoY. As the benchmark STI trades near multi-year lows, more investors are using STI-tracking ETFs as a vehicle to gain instant exposure to Singapore’s top 30 blue chips.

 

In the January-March quarter 2020, total turnover of ETFs listed on SGX hit a nine-year high of S$1.8 billion. During the first quarter, the five most active ETFs were SPDR® Gold Shares ETF, SPDR® STI ETF, Lyxor China Enterprise (HSCEI) UCITS ETF, Lion-Phillip S-REIT ETF, and NikkoAM-StraitsTrading Asia ex Japan REIT ETF. In 1Q 2020, these five ETFs generated a total turnover of S$1.3 billion, up more than five-fold from the total turnover of S$243 million in 1Q 2019. 
 




			Name
			
			
			SGX Code
			
			
			1Q2020 Turnover (S$M)
			
			
			1Q2019 Turnover (S$M)
			
			
			YoY Change (%)
			
		


			SPDR® Gold Shares ETF
			
			
			 O87
			
			
			580
			
			
			118
			
			
			392
			
		


			SPDR® Straits Times Index ETF
			
			
			ES3
			
			
			456
			
			
			80
			
			
			468
			
		


			Lyxor China Enterprise (HSCEI) UCITS ETF 
			
			
			P58
			
			
			114
			
			
			1
			
			
			10,812
			
		


			Lion-Phillip S-REIT ETF
			
			
			CLR
			
			
			67
			
			
			24
			
			
			176
			
		


			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			
			
			CFA
			
			
			63
			
			
			20
			
			
			222
			
		


			COI
			
		


			Total
			
			
			 
			
			
			1,280
			
			
			243
			
			
			 
			
		

 




			Name
			
			
			SGX Code
			
			
			Total Return YTD (%)
			
			
			Total Return 1Y (%)
			
			
			Total Return 3Y (%)
			
			
			Total Return 5Y (%)
			
		


			SPDR® Gold Shares ETF
			
			
			 O87
			
			
			7.7
			
			
			26.2
			
			
			8.7
			
			
			5.9
			
		


			SPDR® Straits Times Index ETF
			
			
			ES3
			
			
			-20.9
			
			
			-20.3
			
			
			-3.9
			
			
			-2.7
			
		


			Lyxor China Enterprise (HSCEI) UCITS ETF 
			
			
			P58
			
			
			-13.2
			
			
			-14.7
			
			
			0.3
			
			
			-4.4
			
		


			Lion-Phillip S-REIT ETF
			
			
			CLR
			
			
			-21.4
			
			
			-12.6
			
			
			NA
			
			
			NA
			
		


			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			
			
			CFA
			
			
			-19.6
			
			
			-15.4
			
			
			3.0
			
			
			NA
			
		


			COI
			
			
			-23.9
			
			
			-19.5
			
			
			NA
			
			
			NA
			
		

 




			Name
			
			
			SGX Code
			
			
			12M Div Yld (%)
			
			
			Expense Ratio (%)
			
			
			Fund Size (S$M)
			
			Underlying Index
		


			SPDR® Gold Shares ETF
			
			
			 O87
			
			
			NA
			
			
			0.4
			
			
			74,515
			
			Straits Times Index
		


			SPDR® Straits Times Index ETF
			
			
			ES3
			
			
			4.7
			
			
			0.3
			
			
			894
			
			Straits Times Index
		


			Lyxor China Enterprise (HSCEI) UCITS ETF 
			
			
			P58
			
			
			NA
			
			
			0.7
			
			
			505
			
			Hang Seng China Enterprises Index Net Total Return Index
		


			Lion-Phillip S-REIT ETF
			
			
			CLR
			
			
			6.4
			
			
			0.6
			
			
			145
			
			Morningstar® Singapore REIT Yield Focus Index℠
		


			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			
			
			CFA
			
			
			5.3
			
			
			0.6
			
			
			220
			
			FTSE EPRA Nareit Asia ex Japan Net Total Return REIT Index
		


			COI
			
			
			5.5
			
			
			0.6
			
			
			220
			
			FTSE EPRA Nareit Asia ex Japan Net Total Return REIT Index
		

 Source: Bloomberg &amp; SGX (data as of 8 Apr 2020)

As consistently flagged by the World Gold Council, gold has always been viewed as a haven asset, particularly in times of increased market volatility. The precious metal also plays an important role in portfolio diversification. In a report published on 19 March 2020, the WGC noted that decelerating economic growth will impact consumer demand for gold, and volatility for the precious metal may remain high, but widespread negative real rates and quantitative easing would continue to boost bullion’s role as an investment haven.

In 1Q, SPDR® Gold Shares ETF generated the highest turnover of S$580 million among the ETFs listed on SGX, up nearly five-fold YoY. The ETF provides investors with an innovative, relatively cost-efficient and secure way to access the gold market. The ETF aims to lower many barriers that prevent some investors from investing in bullion, including the logistics of buying, storing and insuring the commodity. In addition, certain pension funds and mutual funds do not or cannot hold physical commodities or the derivatives. The ETF is set up to reflect the performance of bullion, less the fund’s expenses. It tracks the London Bullion Market Association (LBMA) PM Gold Price, and the physical bullion is kept in the form of London Good Delivery bars.

As the benchmark Straits Times Index (STI) trades near multi-year lows, more investors are using STI-tracking ETFs as a vehicle to gain instant exposure to Singapore’s top 30 blue chips. The SPDR® STI ETF, unveiled in 2002, is managed by State Street Global Advisors, while the Nikko AM STI ETF, launched in 2009, is managed by DBS subsidiary Nikko Asset Management. Benefits of investing in the STI ETF include gaining exposure to the 30 constituents of the benchmark index through a single purchase and at a very low cost. Over the longer term, the returns can be sizeable.

During the first quarter of the year, the SPDR® STI ETF was the second most active ETF on SGX with a turnover of S$456 million, up nearly six-fold YoY. In March 2020, the SPDR® STI ETF and NikkoAM Singapore STI ETF also saw total net creation of S$228.6 million, up more than five-fold from February’s total net creation of S$42.7 million.



 
			
			Net Creation (S$M)
			
		


			Name
			
			
			Jan-20
			
			
			Feb-20
			
			
			Mar-20
			
		


			SPDR® Straits Times Index ETF
			
			
			0.3
			
			
			34.6
			
			
			205.8
			
		


			NikkoAM Singapore STI ETF
			
			
			8.0
			
			
			8.1
			
			
			22.8
			
		


			Total
			
			
			8.3
			
			
			42.7
			
			
			228.6
			
		

 



      
    
    STI ETF


The Lyxor China Enterprise (HSCEI) UCITS ETF was the third-most active ETF on SGX during the quarter with a turnover of S$114 million. The ETF is one of five China-focused ETFs on SGX seeking to replicate the total returns of major equity market indices in China. Its underlying index is Hang Seng China Enterprises Index Net TRN Index, which tracks H-Shares listed on the Hong Kong Stock Exchange and included in the Hang Seng Mainland Composite Index. With Hong Kong stocks trading at or near all-time lows following weeks of market volatility, bargain-hunting activity has begun returning to the market. Last week, the government also unveiled measures worth HK$137.5 billion to bolster the domestic economy.

SGX lists three REIT ETFs – Phillip SGX APAC Dividend Leaders REIT ETF, NikkoAM-StraitsTrading Asia ex-Japan REIT ETF, and Lion-Phillip S-REIT ETF. The Lion-Phillip S-REIT ETF and NikkoAM-StraitsTrading Asia ex Japan REIT ETF were the fourth and fifth most active ETFs on SGX during the March quarter. In the month of March, the NikkoAM-StraitsTrading Asia ex Japan REIT ETF and the Lion-Phillip S-REIT ETF also saw a combined net creation of S$33.3 million, more than double the combined net creation of S$16.6 million for these two ETFs in February.



 
			
			Net Creation (S$M)
			
		


			Name
			
			
			Jan-20
			
			
			Feb-20
			
			
			Mar-20
			
		


			NikkoAM-StraitsTrading Asia ex Japan REIT ETF
			
			
			3.2
			
			
			16.0
			
			
			17.9
			
		


			Lion-Phillip S-REIT ETF
			
			
			3.7
			
			
			0.6
			
			
			15.4
			
		


			Phillip SGX APAC Dividend Leaders REIT ETF
			
			
			0.6
			
			
			0.0
			
			
			0.0
			
		


			Total
			
			
			7.6
			
			
			16.6
			
			
			33.3
			
		




      
    
    REIT ETF

Launched by Nikko Asset Management and Straits Trading Company in March 2017, the NikkoAM-StraitsTrading Asia ex-Japan REIT ETF tracks the FTSE EPRA/NAREIT Asia ex-Japan REITs Index. SGX-listed REITs make up 70% of the fund, while REITs from the rest of the Asian countries, including Hong Kong, China and Malaysia, comprise the remaining 30%. The Lion-Phillip S-REIT ETF, rolled out by Lion Global Investors and Phillip Capital Management in October 2017, tracks the Morningstar® Singapore REIT Yield Focus Index. This is the first REIT ETF in the world with Singapore REITs accounting for 100% of its constituents.


Straits Trading

Most Active ETFs in 1Q 2020