SGX lists ASEAN dividend ETF tracking 57 stocks

Product tracks 57 ASEAN stocks excluding REITs.

Singapore Exchange has listed the UOBAM Ping An FTSE ASEAN Dividend Index ETF, providing investors with exposure to dividend-paying equities across five Southeast Asian markets, according to an SGX release.

UOB Asset Management manages the exchange-traded fund and tracks the FTSE ASEAN ex REITs Target Dividend Index, which comprises 57 large- and mid-capitalisation companies from Singapore, Indonesia, Thailand, Malaysia, and the Philippines, SGX said.

Units are listed in Singapore dollars and US dollars under the stock codes UPD and UPU, respectively.

SGX stated that the index has a higher allocation to defensive sectors and a lower correlation with major global equity markets compared to the broader FTSE ASEAN Index.

Following the listing, SGX’s ETF lineup increased to 52 products, with combined assets under management exceeding $18b.

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