Exchange (SGX) will list a first ever exchange-traded fund (ETFs) that is based on commodity prices, local English daily The Straits Times report Wednesday.
Since April last year, a total of six ETFs have been listed on the SGX, five of which track regional stock markets such as and China, and one lets investors buy into the gold market.
The new commodities fund is managed by Lyxor, a unit of French bank Societe Generale, and tracks the Reuters/Jefferies Commodity Research Bureau (CRB) Index, which is based on a basket of 19 commodities covering oil, metals and agricultural produce such as cotton and coffee, according to the report.
The fund, which will be listed here Thursday, has been traded since last February on European exchanges such as Frankfurt-based Eurex and has an asset size of 260 million euros (about 337 million U.S. dollars).
ETFs track the performance of a market index, commodities or bonds.
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