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Old 24-09-2018, 07:21 PM   #1
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Lightbulb Phillip SING Income ETF

Another new etf listing on 29 oct?

- https://sg.finance.yahoo.com/news/si...041419325.html
- https://eservices.mas.gov.sg/opera/P...4c65b02d9e73fb

This one tracks Morningstar Singapore Yield Focus Index.
Sounds like another STI-type?

Last edited by intime; 24-09-2018 at 07:27 PM..
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Old 24-09-2018, 07:40 PM   #2
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Yes, it should pretty closely track a bog standard STI fund, except it'll be more expensive: 0.40% management fee versus 0.30% available with ES3, and a likely wider bid-ask spread.

I think you can sleep in and skip this one.
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Old 24-09-2018, 08:07 PM   #3
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0.4% management fee is not the same as 0.4% TER

Btw qn
Are non-reits' dividend subject to 17% corporate/dividend withholding tax (whatever that is called)?
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Old 24-09-2018, 09:05 PM   #4
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Index Constituents | Morningstar Singapore Yield Focus Index

Singapore Telecommunications Ltd Z74 10.18 08/31/2018
DBS Group Holdings Ltd D05 8.50
Oversea-Chinese Banking Corp Ltd O39 7.95
United Overseas Bank Ltd U11 7.46
Singapore Exchange Ltd S68 5.77
CapitaLand Commercial Trust C61U 5.40
CapitaLand Mall Trust C38U 5.20
Singapore Technologies Engineering Ltd S63 5.19
SATS Ltd S58 5.09
Mapletree Commercial Trust N2IU 4.72
Hongkong Land Holdings Ltd H78 4.69
NetLink NBN Trust Regs Units Regs S CJLU 4.14
Dairy Farm International Holdings Ltd D01 3.50
Parkway Life Real Estate Investment Trust C2PU 2.30
SIA Engineering Co Ltd S59 2.19
Sheng Siong Group Ltd OV8 2.06
M1 Ltd B2F 1.62
Manulife US REIT BTOU 1.57
Keppel Infrastructure Trust A7RU 1.57
OUE Hospitality Trust SK7 1.48
United Engineers Ltd U04 1.41
Haw Par Corp Ltd H02 1.36
StarHub Ltd CC3 1.25
First Real Estate Investment Trust AW9U 0.98
AIMS AMP Capital Industrial REIT O5RU 0.95
Hong Leong Finance Ltd S41 0.90
SPH REIT SK6U 0.87
Raffles Medical Group Ltd BSL 0.80
Frasers Hospitality Trust ACV 0.51
Silverlake Axis Ltd 5CP 0.39
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Old 24-09-2018, 10:16 PM   #5
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How come got starhub... got quality meh

Btw still waiting for ans to my previous qn. Are non reits' dividends subject to the 17% withholding tax?
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Old 25-09-2018, 07:52 AM   #6
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You can simply buy STI ETF as a core holding and then a few REITs as a satellite holding and you have got yourself a dividend portfolio.

management fee is not the same as expense ratio - expense ratio is always higher than management fee, so it remains to be seen how expensive this one is, but my guess is that management fee = 0.40%, expense ratio around 0.60%. Do you want your dividend yield to be reduced by 0.60%?
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Old 25-09-2018, 08:33 AM   #7
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Qn qn qn
Are non reits' dividend in eg in this etf and sti etf subject to 17% withholding tax?
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Old 25-09-2018, 08:41 AM   #8
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Qn qn qn
Are non reits' dividend in eg in this etf and sti etf subject to 17% withholding tax?
Don't think so...I based it on receiving the full dividends amount declared...
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Old 25-09-2018, 09:17 AM   #9
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Don't think so...I based it on receiving the full dividends amount declared...
You misunderstood...

I mean at the corporate/fund level when they receive the individual stocks' dividends

Again asking about non reits
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Old 25-09-2018, 09:27 AM   #10
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The Singapore tax is paid by the corporations or trusts before dividend distributions, and that part is exactly the same across these ETFs.

Iíll repeat: you can ignore this new ETF. The compositional varations are minor compared to a bog standard STI fund, thereís no particular reason to believe those minor compositional differences will help long-term investors (they could just as easily hurt), and they arenít going to overcome the higher costs and wider bid-ask spreads for this fund. Stick with ES3 for your Singapore stock investing unless and until something genuinely better comes along, and this ainít it.
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Old 25-09-2018, 09:33 AM   #11
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The Singapore tax is paid by the corporations or trusts before dividend distributions, and that part is exactly the same across these ETFs.
Except reits etf. Except i dont know if it is applied to "reits etf" only or sreit holdings in any etfs

Since most of the dividends in this philip sing income etf is going to be hit with 17%, can forget about it. Reits etf are currently still the best among income etfs (but high TER of around 0.6%)

Last edited by assiak71; 25-09-2018 at 09:39 AM..
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Old 25-09-2018, 09:35 AM   #12
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Will there be ipo or when trade den hoot
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Old 25-09-2018, 09:50 AM   #13
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Except reits etf. Except i dont know if it is applied to "reits etf" only or sreit holdings in any etfs
Both ES3 and this new ETF hold REITs. (The STI includes publicly listed/traded REITs.) If you’re trying to make the point that the compositional bias of this new ETF is more heavily skewed toward real estate (REITs), and therefore there will be a greater tax burden within the fund, OK, fair enough.

No matter how you slice it, you can skip the cocktail parties for this ETF launch. OK, if you’re getting a free drink, great, have fun. But I wouldn’t buy this ETF.

The only new investment product launches recently (within the past few years) that seem to be genuinely attractive are:

* Singapore Savings Bonds (SSBs), which have been running for about 3 years now. Those are useful in certain roles.

* MBH, the new bond ETF. There are certainly things I don’t like about MBH, starting with its name since it’s neither investment grade nor corporate. I also don’t like the annual (!) dividend. Either make it accumulating or make it quarterly, but annual is crazy. Nonetheless, it’s currently the best general purpose Singapore dollar denominated bond fund.

* Lion Global’s new “All Seasons” unit trusts are mildly interesting, with caveats.

Anything else?

What do investors in Singapore still need? Well, here’s my short list:

* I’d like to see the government add a quarterly Singapore Inflation Bond (SIB) issue, layered on top of the SSB system and with nearly identical rules. SIBs would be real return bonds, i.e. they’d pay an interest rate pegged to the Singapore Consumer Price Index (CPI). They’d be comparable to U.S. I Bonds. Plus a once per year 10 year real return SGS issue, probably starting in November or December next year since the SGS calendar is typically bare during that period.

* MBH added to the CPF Investment Scheme.

* Lion Global’s “All Seasons” funds added to the CPF Investment Scheme, and with lower costs.

And here’s my short list in other financial areas:

* An ATM card issuer that offers a Mastercard network card with no bank markup and with up to 3 ATM operator fee rebates per month.

* A better “as charged” public hospital B1 ward Integrated Shield plan than Great Eastern’s. It’d be nice if Prudential offers it, and it ought to be open to foreigners as well as PRs and citizens (as Prudential’s public hospital A ward plan is).

* An Integrated Shield plan rider that adds high quality global emergency medical coverage (including medical repatriation/evacuation) and, in Singapore, non-hospitalization-related outpatient coverage, including prescription drug coverage. One of the Integrated Shield carriers ought to strike a deal with Bupa, basically. Maybe Raffles would be interested in doing this.

* There’s still some room for DII improvements. There are problems with policyholders leaving Singapore and losing coverage, unavailability for homemakers and students (as examples), too short elimination periods (it should be 6 months as the default), and lack of a CPI-linked escalation in both the starting amount and the annual increment.

* The life annuity market needs some improvements. There should be more fully SRS qualified annuities, and they should be joint life, CPI-linked escalating, with guaranteed payouts full stop (no non-guaranteed nonsense), and with a modest death benefit. Nobody quite hits all the marks yet, even though there are 4 companies selling life annuities in Singapore (NTUC Income, Manulife, Tokio Marine, and Etiqa).

Last edited by BBCWatcher; 25-09-2018 at 10:31 AM..
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Old 25-09-2018, 10:29 AM   #14
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Both ES3 and this new ETF hold REITs. (The STI includes publicly listed/traded REITs.) If you’re trying to make the point that the compositional bias of this new ETF is more heavily skewed toward real estate (REITs), and therefore there will be a greater tax burden within the fund, OK, fair enough.

No matter how you slice it, you can skip the cocktail parties for this ETF launch. OK, if you’re getting a free drink, great, have fun. But I wouldn’t buy this ETF.

The only new investment product launches recently (within the past few years) that seem to be genuinely attractive are:

* Singapore Savings Bonds (SSBs), which have been running for about 3 years now. Those are useful in certain roles.

* MBH, the new bond ETF. There are certainly things I don’t like about MBH, starting with its name since it’s neither investment grade nor corporate. I also don’t like the annual (!) dividend. Either make it accumulating or make it quarterly, but annual is crazy. Nonetheless, it’s currently the best general purpose Singapore dollar denominated bond fund.

* Lion Global’s new “All Seasons” unit trusts are mildly interesting, with caveats.

Anything else?
What is this lion global all seasons unit trusts that you are talking about?
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Old 25-09-2018, 11:39 AM   #15
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Bbc maybe you dont know about this

https://www.businesstimes.com.sg/sto...x-transparency

Reits have less tax burden not more. Maybe now you will see what my above posts are trying to say/ask
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