Phillip Capital Management (PCM) is launching its latest ETF product – Phillip SING Income ETF. The investment objective of Phillip SING Income ETF is to replicate, before fees and expenses, the performance of the Morningstar® Singapore Yield Focus IndexSM (MSYF).
Quality of Underlying Portfolio – Morningstar® Singapore Yield Focus IndexSM
The MSYF captures the performance of a quality income strategy using the proprietary factors that underpin the Morningstar® Global Dividend Yield Focus Index family. The selection universe contains securities whose primary listing are on the SGX.
Strategic Beta for stocks selection with emphasis on 3 factors:
Track record
Stable and quality income with semi-annual dividend distribution
Single security maximum weight is capped at 10% to avoid excessive security concentration, and rebalancing is done every 6 months. Dividends will be distributed every June and December.
Constituent Weightings of the Index
Index Constituents |
Sector |
Portfolio Weight (%) |
Phillip Securities Research – Singapore Stocks Coverage |
Singapore Telecommunications Ltd |
Telecommunication Services |
10.2% |
|
DBS Group Holdings |
Financials |
8.5% |
Buy – 3-Aug-18 |
Overseas-Chinese Banking |
Financials |
7.9% |
Buy – 7-Aug-18 |
United Overseas Bank |
Financials |
7.5% |
Buy – 26-Sept-18 |
Singapore Exchange Ltd |
Financials |
5.8% |
Buy – 30-Jul-18 |
Singapore Technologies Engineering Ltd |
Industrials |
5.2% |
|
SATS Ltd |
Industrials |
5.1% |
Accumulate – 20-Jul-18 |
CapitaLand Commercial Trust |
Real Estate |
5.4% |
Accumulate – 20-Jul-18 |
Hong Kong Land Hldgs Ltd |
Real Estate |
4.7% |
|
CapitaLand Mall Trust REIT |
Real Estate |
5.2% |
Neutral – 28-Aug-18 |
Mapletree Commercial Trust |
Real Estate |
4.7% |
|
NetLink NBN Trust |
Telecommunication Services |
4.1% |
|
Dairy Farm Intl Hldgs Ltd |
Consumer Staples |
3.5% |
|
SIA Engineering Co |
Industrials |
2.2% |
Accumulate – 20-Jul-18 |
Parkway Life REIT |
Real Estate |
2.3% |
|
Sheng Siong Group Ltd |
Consumer Staples |
2.1% |
Accumulate – 2-Aug-18 |
M1 Ltd |
Telecommunication Services |
1.6% |
|
Manulife US Real Estate Investment Trust |
Real Estate |
1.6% |
|
Keppel Infrastructure Trust |
Utilities |
1.6% |
|
United Engineers Ltd |
Real Estate |
1.4% |
|
OUE Hospitality Trust |
Real Estate |
1.5% |
|
Starhub |
Telecommunication Services |
1.2% |
|
Haw Par Corp Ltd |
Health Care |
1.4% |
|
First Real Estate Investment Trust |
Real Estate |
1.0% |
Neutral – 19-Sep-18 |
AIMS AMP Capital Industrial |
Real Estate |
0.9% |
|
Hong Leong Finance Ltd |
Financials |
0.9% |
|
SPH REIT |
Real Estate |
0.9% |
|
Raffles Medical Group |
Health Care |
0.8% |
Accumulate – 8-Aug-18 |
Frasers Hospitality Trust |
Real Estate |
0.5% |
|
Silverlake Axis Ltd |
Information Technology |
0.4% |
|
Source: PCM, Morningstar Research Pte. Ltd., Bloomberg, as of 31 August 2018 and is subject to change.