In a first for the market, two locally domiciled leveraged and inverse (L&I) funds have gone live on the Singapore Exchange (SGX) today, 1 December.
Managed by Phillip Capital Management, the Phillip MSCI Singapore Daily (2x) Leveraged and Phillip MSCI Singapore Daily (-1x) Inverse Products are targeted at institutional and retail investors seeking to leverage and hedge exposures in the local market. The Singapore-based asset manager filed its application with the Monetary Authority of Singapore (MAS) to introduce the two funds back in October 2020, which also marks its first foray into the L&I products market. Both products are linked
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