News

Nikko corporate bond ETF boasts regulator’s backing

Singaporean_dollarsNikko Asset Management has launched what it says is the first corporate bond exchange-traded fund (ETF) to be denominated in Singaporean dollars. A statement announcing the product included an endorsement from the local regulator, the Monetary Authority of Singapore, which said the fund would be a “useful step” to help retail investors gain access to a diversified portfolio of local corporate bonds. “This complements [the authority’s] efforts to improve retail access to simple, low-cost investment products,” said Jacqueline Loh, deputy managing director at the authority. The fund will track the performance of the iBoxx SGD Non-Sovereigns Large Cap Investment Grade Index, which includes bonds from Temasek Financial, the Land Transport Authority and Development Bank of Singapore. “A diversified portfolio of Singapore-dollar-denominated investment grade corporate bonds is a high quality asset class that has not always been easy to access especially for retail investors,” said Eleanor Seet, president of Nikko Asset Management Asia. ©2018 funds global asia

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