What happened?

Exchange Traded Funds (ETFs) have grown in popularity amongst Singapore investors.  I saw an article in the Business Times recently about how many investors are starting to look at ETFs for diversification.  Indeed, the asset under management of ETFs in Singapore has grown over the years to reach S$11 billion as of 30 March 2024.  Earlier, we shared that there were 7 newly listed ETFs in Singapore over the last 12 months.  Of these ETFs, there was one particular ETF that generated significant investor interest from its launch.  The iShares MSCI Asia ex Japan Climate Action ETF (stock code: ICM / ICU) had an initial asset under management (AUM) of US$426 million, representing the largest equity ETF launch on the Singapore Exchange (SGX). At total expense ratio of 0.18% it is also the cheapest Asia Ex Japan market ETF in the world. This comes at a time when there is greater...