The fund attracted strong interest from investors with an initial asset under management (AUM) of $100 million.
Phillip SGD Money Market ETF, the first Singapore-domiciled money market ETF and the only money market ETF in Southeast Asia has started trading on the Singapore Exchange (SGX) on Oct 5.
The ETF aims to offer institutional investors an additional liquidity management tool to improve the yield of their clients’ cash deposits, while individual investors can deploy the product as a more efficient management of cash relative to their banks’ savings accounts.
