The Singapore Exchange has licensed an index of real estate investment trusts (REITs) in the Asia-Pacific region excluding Japan to Phillip Capital Management.
The first pan-Asian index from the exchange, it will form the basis for an exchange-traded fund (ETF) that Phillip Capital plans to launch in Singapore later this year.
"The demand for index-linked investment opportunities is increasing rapidly across Asia, and the Singapore Exchange is committed to supporting this growth through our comprehensive index services," said Loh Boon Chye, chief executive of the exchange.
Founded in 1995 and headquartered in Singapore, Phillip Capital Management has offices in Kuala Lumpur, Bangkok, Jakarta, Hong Kong and London.
The company's co-chief investment officer, Linus Lim, recently wrote that Brexit may give an advantage to Asian real estate assets by making London real estate relatively less attractive.
The SGX APAC ex-Japan Dividend Leaders REIT Index includes 70% of the region's REIT universe by market capitalisation and is weighted towards REITs that pay good dividends.
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