Phillip Capital Management

What Phillip Capital Management does

Phillip Capital Management (S) Ltd is the asset management arm of the PhillipCapital group, a diversified Singapore financial services conglomerate. The company operates from a single headquarters at 250 North Bridge Road (Raffles City Tower) and manages a focused product shelf of unit trusts, exchange-traded funds, and leveraged/inverse products, all distributed primarily within Singapore. Its flagship is the Phillip Money Market Fund, launched in 2001 as Singapore's first SGD-denominated money market fund, which had grown to S$2.29 billion in AUM by May 2026. The company also runs the Phillip SING Income ETF (SGD and USD classes) listed on SGX under ticker OVQ, replicating the Morningstar Singapore Yield Focus Index across 30 Singapore blue-chip stocks, alongside REIT-focused and global opportunities offerings.

The firm's core technology relies on physical replication methodology for ETFs and traditional active management for unit trusts, leveraging Morningstar's proprietary factor scoring (Business Quality, Financial Health via Distance to Default, and Dividend Yield) for index construction. Custody and fund administration are outsourced to HSBC, while exchange listing infrastructure is provided by SGX. The revenue model is overwhelmingly AUM-based recurring management fees — typically 0.40% to 0.45% on retail classes and 0.10% on the most institutional Class F — supplemented by initial sales charges (up to 5%) and switching/realisation fees. Distribution operates through SGX secondary market trading, four institutional Participating Dealers (Phillip Securities, UOB Kay Hian, Societe Generale, ABN Amro) for primary market creation/redemption, and authorized distributors for unit trusts, with T+0 direct redemption available for institutional money market fund clients.

The customer base spans retail investors (primary segment, accessing products via distributors and SGX), institutional investors (using Class I/F shares and direct services), and accredited investors. Marketing is executed through content marketing (CIO Outlook reports by Managing Director and CIO Jeffrey Lee), email newsletters, weekly market commentaries, and webinars. The firm carries a 3-Star Morningstar Rating and 5-Globe Morningstar Essentials Sustainability Rating on its SING Income ETF. Phillip Capital Management is privately held, wholly owned within the PhillipCapital group structure, and operates with a lean 11-50 employee headcount serving Singapore-domiciled investors, with explicit exclusion of US Persons.

Name

Phillip Capital Management

Legal name

Phillip Capital Management (S) Ltd

Website

https://phillipfunds.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Money Market Funds (FSAAAEAC)

akta.pro secondary industries

Discretionary Portfolio Management (Retail) (FSAAAAAH), Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

Keywords

• Asset management services
• Exchange traded funds
• Unit trust funds
• Money market funds
• Singapore equity ETFs

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. ETF Management Fees: Ongoing management fees charged as percentage of AUM. For Phillip SING Income ETF: 0.40% p.a. with maximum cap at 0.70% of AUM p.a.
2. Unit Trust Management Fees: Annual management fees charged on unit trust funds. Class A: 0.45% p.a. (max 2%), Class I: 0.25% p.a. (max 2%), Class F: 0.10% p.a. (max 2%)
3. Initial Sales Charges: Sales charges applied when investors subscribe to fund units. For Money Market Fund: Currently 0%, maximum 5%.
4. Realisation/Switching Fees: Fees charged upon redemption or switching of fund units. For Money Market Fund: Currently 0%, maximum 5% for realisation; Switching fee up to 1% (max 1%, min S$25).

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Phillip Capital Management is a Singapore-based fund management company that manages Unit Trust Funds and Exchange Traded Funds (ETFs) listed on the Singapore Exchange. Its product suite focuses on income generation and capital preservation, including the flagship Phillip Money Market Fund (largest SGD money market fund in Singapore), the Phillip SING Income ETF replicating the Morningstar Singapore Yield Focus Index, REIT-focused funds, leveraged and inverse products, and global equity/bond funds. The company serves retail, accredited, and institutional investors primarily in Singapore through SGX-listed ETFs, authorized distributors, and direct sales channels.

Product overview

Phillip Capital Management operates as an asset management company within the PhillipCapital group, offering a comprehensive suite of investment products including Unit Trust Funds and Exchange Traded Funds (ETFs). The product portfolio centers around income-generating solutions such as the Phillip Money Market Fund (SGD and USD variants), Phillip SING Income ETF, and various REIT-focused products including Phillip Singapore Real Estate Income Fund, Phillip SGX APAC Dividend Leaders REIT ETF, and Lion-Phillip S-REIT ETF. Additional offerings include Leveraged and Inverse Products for short-term trading, and Asset Management Solutions for institutional investors. The company also provides the Phillip Global Opportunities Fund for global equity and bond exposure. Products are distributed through multiple channels including the Singapore Exchange, authorized distributors, and direct sales, with some products available via Supplementary Retirement Scheme (SRS).

Differentiator

Problem solved

Functional benefit

Brands

• Phillip Money Market Fund: Singapore's first SGD Money Market Fund launched in 2001, offering capital preservation and liquidity with returns comparable to Singapore dollar savings deposits. Available in Class A, Class I, and Class F share classes.
• Phillip SING Income ETF
• Phillip Singapore Real Estate Income Fund
• Phillip SGX APAC Dividend Leaders REIT ETF
• Lion-Phillip S-REIT ETF
• Phillip Global Opportunities Fund
• Phillip US Dollar Money Market Fund

Products and services

• Phillip Money Market Fund Singapore dollar-denominated money market fund investing in short-term, high-quality money market instruments and debt securities (government and corporate bonds, commercial bills, deposits with financial institutions). Aims to preserve principal value with high liquidity for retail and institutional investors in Singapore.
• Phillip SING Income ETF Income-focused ETF listed on SGX (ticker OVQ) that replicates the Morningstar Singapore Yield Focus Index, providing high dividend income and moderate long-term capital appreciation from 30 top Singapore stocks screened by Dividend Yield, Business Quality, and Financial Health factors. Trades like a stock in SGD and USD classes.
• Phillip Singapore Real Estate Income Fund Actively managed unit trust fund focusing on Singapore REITs and real estate securities, aiming to provide regular income and long-term capital appreciation through exposure to Singapore's property market.
• Phillip SGX APAC Dividend Leaders REIT ETF ETF providing exposure to Asia-Pacific REITs, focusing on dividend-paying real estate investment trusts across the region. Tracks an SGX-licensed index of APAC ex-Japan Dividend Leaders REIT.
• Lion-Phillip S-REIT ETF Singapore-focused S-REIT ETF offering exposure to Singapore Real Estate Investment Trusts for dividend income.
• Phillip US Dollar Money Market Fund USD-denominated money market fund designed for capital preservation with liquidity maintenance, investing in high-quality US dollar money market instruments.
• Phillip Global Opportunities Fund Globally diversified unit trust fund investing across equities, bonds, and cash, with a focus on technology equities and quality growth companies worldwide.
• Leveraged and Inverse Products Leveraged and inverse ETFs designed for short-term trading and hedging purposes, offering amplified exposure to underlying indices. Listed on the Singapore Exchange.
• Asset Management Solutions Customized asset management solutions for institutional and individual investors, including portfolio management and advisory services.

Quantifiable outcome

• Phillip Money Market Fund achieved S$1 billion AUM milestone in March 2020 during COVID-19 crisis with net positive inflows
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core.

• HSBC Institutional Trust Services (Singapore) LimitedcoreOthersHSBC serves as the Fund Administrator and Custodian for Phillip SING Income ETF, providing fund administration services including NAV calculation, custody of assets, and compliance services.
• The Hongkong and Shanghai Banking Corporation LimitedcoreOthersHSBC acts as Custodian for Phillip SING Income ETF, safeguarding the fund's assets and facilitating settlement of trades.
• Morningstar Research Pte LtdcoreTechnology or IntegrationMorningstar provides the Singapore Yield Focus Index methodology for Phillip SING Income ETF. The index uses proprietary factors including Business Quality (Economic Moat), Financial Health (Distance to Default), and Dividend Yield for stock selection and weighting.
• Singapore Exchange Limited (SGX)coreTechnology or IntegrationSGX provides the exchange listing platform for Phillip ETFs and licenses the SGX APAC Ex-Japan Dividend Leaders REIT Index for related products.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lion Global Investors: Singapore-headquartered asset manager and OCBC subsidiary offering unit trusts, ETFs (Lion-Phillip S-REIT ETF is co-managed with Phillip Capital), and institutional mandates. Directly comparable as a domestic AM peer with similar Singapore retail and institutional focus.
• Eastspring Investments: Singapore-based asset management arm of Prudential plc, managing multi-asset funds, REITs, and Asian equity strategies. Comparable as a large Singapore-based AM peer serving both retail and institutional clients across the region.
• UOB Asset Management: Asset management subsidiary of United Overseas Bank in Singapore, offering unit trusts, money market funds, and ETFs. Comparable as a Singapore bank-affiliated AM with overlapping product set including SGD-denominated funds.
• Fullerton Fund Management: Singapore-based asset manager owned by Temasek, with significant money market fund and fixed income offerings including SGD cash funds. Directly comparable as a Singapore-domiciled AM competing in the same SGD cash management space.
• Nikko Asset Management: Asian asset manager with strong Singapore ETF presence (SGX-listed income and dividend ETFs) and unit trust offerings. Comparable as a regional AM peer with overlapping ETF and income-fund product categories.
• First Sentier Investors: Asia-Pacific-focused asset manager headquartered in Sydney with major Singapore operations, offering multi-asset and equity funds including Singapore REIT strategies. Comparable as an APAC AM peer with regional institutional and retail mandates.

Broad incumbents

• Schroders Singapore: Singapore arm of UK-listed Schroders plc, offering unit trusts, multi-asset funds, and institutional mandates. Comparable as a larger global incumbent with significant Singapore distribution and broader product portfolio than PCM.
• JPMorgan Asset Management Singapore: Singapore operations of JPMorgan Asset Management, offering money market funds, unit trusts, and ETFs in the Singapore market. Comparable as a global incumbent with overlapping product categories and a Singapore retail focus.
• BlackRock (iShares): World's largest asset manager and ETF issuer, with multiple SGX-listed iShares ETFs competing in Singapore. Comparable as the dominant global incumbent in the ETF category where PCM operates its SING Income ETF and REIT products.
• Aberdeen Investments (abrdn): Global asset manager with significant Singapore operations and a long-standing regional fund platform. Comparable as a global incumbent with Singapore-listed unit trusts and institutional capabilities overlapping PCM's offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/phillipfunds_sg
• LinkedInlinkedin.com/company/phillip-capital-management-s-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phillip Capital Management