Singapore, 30 October 2017 – One of the largest asset management companies in Southeast Asia, Lion Global Investors Limited (“Lion Global Investors”), and home-grown Asian fund management company, Phillip Capital Management (S) Ltd. (“Phillip Capital Management”), jointly announced today the successful listing of Singapore’s first exchange- traded fund (“ETF”) fully dedicated to Singapore Real Estate Investment Trusts (“Singapore REITs”) – the Lion-Phillip S-REIT ETF (the “Fund”) – on the Mainboard of the Singapore Exchange (“SGX”).
On the listing of the Lion-Phillip S-REIT ETF, Mr. Gerard Lee, Chief Executive Officer at Lion Global Investors, opined: “The investor response to the Lion-Phillip S-REIT ETF has been very encouraging. When the ETF was launched on 2 Oct 2017, we had only targeted an AUM of between S$40 million and S$50 million. But by the end of the Initial Offer Period on 20 October 2017, we’ve managed to garner more than S$106 million in AUM. This far exceeded our expectations, even though we’ve always been confident of the healthy demand that the Fund would generate. At the same time, it shows that investors are well informed of the benefits of investing in Singapore REITs, which offer a sustainable income stream, potential capital appreciation and portfolio diversification, and that the ETF is a simple and effective way to do so.”
Mr. Jeffrey Lee, Managing Director and Chief Investment Officer at Phillip Capital Management, commented: “We are honoured and humbled by the overwhelming response to the Lion-Phillip S-REIT ETF. We, at Phillip Capital Management, are fully committed and focused on bringing innovative products to serve the needs of our investors. Singapore REITs have been one of the most compelling investment themes in the Singapore stock market and the region.
“The new ETF has appealed to investors who wish to participate in the growth story of Singapore REITs through a diversified portfolio of quality Singapore REITs in a low-cost, transparent and fuss-free manner. We have been strong advocates of Singapore REITs since its inception in 2002. Our focused investments in this sector have served our global institutional, government pension, and retail clients well. We look forward to serving our investors. Their trust in us is our most precious asset”, he added.