Disclaimer - Lion Global Investors Limited
The IntraDay NAV (iNAV) shown is provided by S&P Global Limited (“S&P”). The iNAV is indicative and for reference purposes only. It may differ from the actual NAV calculated in accordance with the Trust Deed and should not be viewed as the actual NAV. Please refer to the actual NAV on our website.
Neither S&P, its affiliates nor any of its third party data providers makes any representation or warranty, express or implied, as to the accuracy, completeness or timeliness of the data contained herein nor as to the results to be obtained by recipients. S&P is not responsible for and has not participated in the determination of the prices and amount of the Fund or the timing of the issuance or sale of the Units of the Fund or in the determination or calculation of the equation by which Units of the Fund are converted into cash. S&P has no obligation or liability in connection with the administration, marketing or trading of the Fund. Furthermore, S&P has no obligation to update, modify or amend this data or to otherwise notify a recipient if any data changes or subsequently becomes inaccurate. THE INAV IS NOT, AND SHOULD NOT BE TAKEN OR RELIED ON AS BEING, THE NET ASSET VALUE PER UNIT OR THE PRICE AT WHICH UNITS MAY BE SUBSCRIBED FOR OR REDEEMED THROUGH A PARTICIPATING DEALER OR PURCHASED OR SOLD ON THE SGX-ST. NO ASSURANCE CAN BE GIVEN THAT THE INAV WILL BE UP TO DATE AT ALL TIMES OR FREE FROM ERROR. WITHOUT LIMITING THE FOREGOING, NEITHER S&P, ITS AFFILIATES NOR ANY THIRD PARTY DATA PROVIDER SHALL HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), WHATSOEVER TO YOU, WHETHER IN CONTRACT (INCLUDING UNDER AN INDEMNITY), IN TORT (INCLUDING NEGLIGENCE), UNDER A WARRANTY, UNDER STATUTE OR OTHERWISE, EVEN IF NOTIFIED OF THE POSSIBILITY OF THE SUCH DAMAGES IN RESPECT OF ANY INACCURACIES, ERRORS OR OMISSIONS, OR ANY LOSS OR DAMAGE SUFFERED BY YOU AS A RESULT OF OR IN CONNECTION WITH THE S&P DATA CONTAINED HEREIN. ALL INTELLECTUAL PROPERTY AND OTHER PROPRIETARY RIGHTS COMPRISED IN THE S&P DATA ARE AND SHALL BE THE EXCLUSIVE PROPERTY OF S&P.
The iNAV published is indicative and for reference purposes only. The iNAV is the best estimate of the intraday fair value per Unit of the relevant Listed Class calculated throughout the SGX‑ST trading hours and is based on the latest mid-price of the underlying securities or fair value adjusted prices. The fair value adjustment is based on regression models estimating the correlation between value of the underlying securities and proxy instruments such as bond futures with real-time prices during the SGX‑ST trading hours. If for the value of an underlying security, no proxy instrument has significant explanatory power, the last market close price of the security will be used. The value of the underlying securities are converted into SGD and USD using near real-time foreign exchange rates. The iNAV is not, and should not be taken or relied on as being, the Net Asset Value per Unit of the relevant Listed Class or the price at which the Units of the relevant Listed Class may be subscribed for or redeemed through a Participating Dealer or purchased or sold on the SGX‑ST.
The LionGlobal Short Duration Bond Fund (Active ETF SGD Class) is Singapore's first active bond ETF and first listed share class of an existing fund.
The Class A SGD (Dist) share class is 1 out of 19 CPFIS Listed A Fund share classes included for both CPF OA & SA*.
As of 31 July 2025, the Fund has 99.7% SGD exposure and 0.2% USD exposure**.
*Source: CPF Board, 31 December 2024. **Source: Lion Global Investors
The investment objective of the Fund is to provide total return of capital growth and income over the medium to long term, through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities and other related securities. There is no target industry or sector. While we will generally invest in bonds with investment grade quality, we may nonetheless also invest or expose the Fund to sub-investment grade securities.
Includes both Singapore and global bonds, with flexibility to hold sub investment grade securities
Managed by experienced professionals with a proven active management process
Reduces sensitivity to interest rate fluctuations. Ideal in volatile market conditions
Focus on generating total return of capital growth and income over the medium to long term through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities and other related securities.
| Reference Benchmark | 3-month Singapore Overnight Rate Average (SORA) plus 0.35% |
| Listing Date | 29 September 2025 |
| Issue Price | SGD 1.00 per unit |
| Initial Offer Period (IOP) | 8 September 2025 to 23 September 2025 |
| Base Currency | SGD |
| Trading Currency | SGD, USD |
| SGX Code | SBO (SGD), SBV (USD) |
| Bloomberg Ticker | SBO SP (SGD), SBV SP (USD) |
| Trading Board Lot Size | 1 unit |
| Management Fee | 0.25% per annum* |
| Dividend Frequency^ | Intend to distribute at the end of every quarter, on or around 31 March, 30 June, 30 September and 31 December of every year |
| Creation / Redemption in cash (applicable to Paricipating Dealers) | 50,000 units (or such higher number of Units in multiples of 1,000 Units)** |
| Classification Status | Excluded Investment Product (EIP) |
| Weighted Yield to Maturity1 | 3.18% |
| Weighted Duration2 | 2.25 |
| Credit Rating3 | A- |
**Application Unit size is at the discretion of the Manager. Application Unit size may be less than 50,000 and in multiples of 1 Unit during the Initial Offer Period.
^Distributions are not guaranteed and may fluctuate. Past distributions are not necessarily indicative of future payments. Distribution payouts and its frequency might be changed at the Manager's discretion and can be made out of income, capital or both. Any payment of distributions by the fund may result in an immediate reduction of the net asset value per share/unit. Please refer to our website for more information on the income disclosures.
1In local currency yield terms and on unhedged Foreign exchange basis. Weighted yield to maturity in SGD: 2.92%. Weighted yield to maturity in USD: 5.32%.
2Inclusive of cash & equivalents which are assumed to be zero duration.
3Includes cash & equivalents @ AA, takes the worst of S&P, Moody’s, Fitch’s or Internal ratings and based on a straight-line model.
Lion Global Investors as of 31 July 2025.
The LionGlobal Short Duration Bond Fund (Active ETF SGD Class) is Singapore’s first actively managed bond ETF. Unlike index-tracking ETFs, this ETF is managed by experienced investment professionals with a proven active management process.
This ETF is a listed share class of the LionGlobal Short Duration Bond Fund which was incepted since 22 March 1991. With a long-standing track record and managed by experienced investment professionals, this ETF provides a simple, and cost-effective solution for income-focused investors seeking resilience and flexibility in a dynamic market environment.
Key benefits of the ETF include:
- Broader Exposure: Includes both Singapore and global bonds, with flexibility to hold sub-investment grade securities
- Active Management: Managed by experienced professionals with a proven active management process
- Short Duration: Reduces sensitivity to interest rate fluctuations. Ideal in volatile market conditions
- Total Return Focused: Focused on generating total return of capital growth and income over the medium to long term through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities and other related securities.
This ETF stands out for its short duration, active strategy, and diversified holdings, making it well-suited for investors seeking stability and income in a volatile environment.
|
ETF |
Type |
Focus |
Holdings |
Yield to Maturity |
Duration |
Distribution Frequency* |
|
LionGlobal Short Duration Bond Fund (Active ETF SGD Class)
Source: Lion Global Investors, 31 July 2025 |
Active ETF |
Short-term bonds |
Around 200 Singapore & global investment-grade bonds |
3.18% as of 31 Jul 2025 in local currency yield terms and on unhedged Foreign exchange basis. |
2.25 years as of 31 Jul 2025 Inclusive of cash & equivalents which are assumed to be zero duration. |
Quarterly |
|
Xtrackers II Singapore Government Bond UCITS ETF 1C
Source: Xtrackers as of 22 Aug 2025 |
Passive ETF |
Singapore government bonds |
Around 20 Singapore government bonds |
1.84% Yield to Worst as of 22 Aug 2025 |
8.94 years as of 22 Aug 2025 (Effective Duration) |
Not Applicable |
|
NikkoAM SGD Investment Grade Corporate Bond ETF
Source: Nikko AM SGD Investment Grade Corporate Bond ETF | Nikko AM Asia as of 31 Jul 2025 |
Passive ETF |
Long-term bonds |
Around 130 SGD bonds |
2.66% as of 31 Jul 2025
Weighted Average Yield to Maturity(%) is an average yield calculated by weighting each security presently held by the Fund at time of calculation with capitalisation and duration. Yield to Maturity and Yield to Call measures are used in the calculation for noncallable and callable bonds respectively. The figure is for reference only and would vary from time to time due to market conditions and it does not represent the fund/sub-fund's distribution yield or actual rate of return. |
6.02 years as of 31 Jul 2025
Weighted Average Duration (years) is an average duration weighted with capitalisation, and the figure is for reference only and would vary from time to time due to market conditions. |
Semi-Annually |
|
ABF Singapore Bond Index Fund
Source: ABF Singapore Bond Index Fund as of 31 Jul 2025 |
Passive ETF |
Long-term government & quasi-government bonds |
Around 70 Government & quasi-government bonds |
2.19% as of 31 Jul 2025
Weighted Average Yield to Maturity(%) is an average yield calculated by weighting each security presently held by the Fund at time of calculation with capitalisation and duration. Yield to Maturity and Yield to Call measures are used in the calculation for noncallable and callable bonds respectively. The figure is for reference only and would vary from time to time due to market conditions and it does not represent the fund/sub-fund's distribution yield or actual rate of return.
|
8.72 years as of 31 Jul 2025
Weighted Average Duration (years) is an average duration weighted with capitalisation, and the figure is for reference only and would vary from time to time due to market conditions. |
Semi-Annually |
|
iShares USD Asia High Yield Bond ETF
Source: iShares USD Asia High Yield Bond ETF | O9P as of 20 Aug 2025 |
Passive ETF |
USD-denominated high yield bonds issued by Asian governments and Asian-domiciled corporations |
Around 200 Asian high yield bonds |
7.25% as of 20 Aug 2025
Yield to Maturity (YTM) is the discount rate that equates the present value of bond's cash flows with its market price (including accrued interest). The fund YTM is the weighted average of fund's individual bond holding YTMs based upon Net Asset Value ('NAV'). The measure does not include fees and expenses. For callable bonds, YTM is the Yield |
2.56 years as of 20 Aug 2025 (Effective Duration)
Effective duration is a measure of a fund's interest-rate sensitivity. Put simply, the longer a fund's duration, the more sensitive the fund is to shifts in interest rates. So a fund with a duration of 10 years is twice as volatile as a fund with a five-year duration. |
Quarterly |
* Distributions are not guaranteed. Distributions may be made up of income, capital gains, and/or capital.
In the current environemtn of heightened market uncertainty, the LionGlobal Short Duration Bond Fund's short duration nature and active strategy may offer potential advantages in managing interest rate sensitivity and seeking income opportunities. With a more diversified bond portfolio compared to other SGX-listed bond ETFs, the ETF seeks to deliver regular income and total returns through active management and short duration postitioning.
Both products access the same portfolio, which has been actively managed since 22 March 1991. This is Singapore’s first fund with both unlisted and listed share classes that adopt the same active strategy.
|
|
LionGlobal Short Duration Bond Fund (Unit Trust) |
LionGlobal Short Duration Bond Fund (Active ETF SGD Class) (ETF) |
|
Structure |
Singapore unit trust |
Singapore unit trust |
|
Included under CPF-OA and CPF-SA |
Yes for Class A (SGD) Dist units only |
No |
|
Minimum Investment |
SGD 1,000 (initial) SGD 100 (subsequent) |
As low as SGD 1 since SGX trading board lot size is 1 unit |
|
Management Fee |
Class A (SGD) Dist: Currently 0.50% p.a. |
0.25% p.a.^ |
|
Preliminary Charge |
Currently 3%, Maximum 5% |
NA |
|
Subscriptions/ Redemptions |
Daily dealing (based on NAV) |
Intraday trading on exchange |
|
Pricing Transparency |
Priced once daily based on NAV |
Real-time intraday market pricing |
|
Trading Flexibility |
No intraday trading; orders processed at end-of-day NAV |
Can be bought/sold throughout the trading day |
|
Access |
Traded through distributors |
Traded on exchange via any broker that allows trading of SGX-listed ETFs |
^ Up to a maximum of 1% per annum of the Net Asset Value of the Fund
While both offer access to the same strategy, ETFs provide greater liquidity, convenience, and cost-efficiency for investors.
In today’s uncertain global environment, Singapore stands out as a safe and stable investment hub, backed by its AAA credit rating, strong currency, and geopolitical neutrality.
As interest rates fall, investors are increasingly seeking income, especially in stable currencies like the SGD.
The LionGlobal Short Duration Bond Fund is well-positioned to benefit from this environment. It holds bonds that were bought at higher coupon rates, allowing investors to benefit from:
- Potentially enhanced income from existing high-coupon holdings
- Potential capital gains as bond prices rise in a falling rate environment
With this fund now offered as an ETF on the SGX, investors now enjoy greater liquidity, access and cost-efficiency.
The Initial OfferPeriod (IOP) of the LionGlobal Short Duration Bond Fund (Active ETF SGD Class) is from 8 to 23 Sep 2025.
From 29 Sep 2025, the LionGlobal Short Duration Bond Fund (Active ETF SGD Class) via brokers with SGX market access. SGX tickers are SBO (SGD counter) and SBV (USD counter). Bloomberg tickers are SBO SP (SGD) and SBV SP (USD).
Exclusive promotions
- FSMOne: Get S$10 for every S$10k invested (capped at S$200). Valid 8 Sep–31 Oct 2025. Only cash subscription is eligible during 8 Sep - 23 Sep 2025. Cash and SRS subscriptions are both eligible for promotion after 29 Sep 2025 listing. Cash reward credited 6 weeks after 31 October 2025.
- POEMS: S$10 for every S$5k invested (capped at S$500 per client). First 200 clients, valid 8–22 Sep 2025. Cash reward credited after 31 October 2025.
|
Participating Banks/Dealers |
Subscription End Date |
How to subscribe |
|
OCBC ATM, Online and Mobile Banking |
Mon 22 Sep, 12pm |
|
|
OCBC Securities |
Fri 19 Sep, 12pm |
Subscribe via your Trading Representative (TR). Follow the below steps to find out the contact details of your TR. 1. Log in to the iOCBC Online Trading Platform 2. Click on ‘More’ at the top menu 3. Select ‘Account Details’ to view your TR’s contact details |
|
FSMOne |
Tue 23 Sep, 12pm |
1. Clients to fund their Multi-Currency Cash Account for the total subscription amount including the processing fees and GST of 9%. 2. Login to FSMOne.com and proceed to subscribe online: · Select Live Trading > Stocks & ETFs > IPOs/Placements · Indicate your quantity of shares and select the payment method · Read and acknowledge the declaration · Key in password and click submit 3. Upon the completion of the IOP subscription, clients will receive an acknowledgment email regarding the IOP subscription order. 4. Upon the completion of the allocation, FSMOne will notify clients of the final allocation results. 5. FSMOne will send clients a subscription confirmation email once the details are confirmed by our dealers. 6. The allotment for this issue will be in full, subject to receipt and clearance of subscription monies. There will be no balloting. |
|
Maybank Securities |
Thu 18 Sep, 5pm |
Please approach your Trading Representatives. |
|
POEMS |
Mon 22 Sep, 5pm |
|
Investors may use SRS monies to subscribe to the ETF after it is listed on SGX on 29 September 2025. However, CPF (OA) and Special Account (SA) monies cannot be used to invest in the ETF.
*References to specific corporations/companies and their trademarks are not intended as recommendations to purchase or sell investments in such corporations/companies nor do they directly or indirectly express or imply any sponsorship, affiliation, certification, association, approval, connection or endorsement between any of these corporations/companies and Lion Global Investors Limited or the products and services of Lion Global Investors Limited.
^Refers to OCBC Securities Private Limited.
**Subscribe by 22 September 2025 12pm at SGD 2 application fee. Terms and conditions apply.
Disclaimer – LionGlobal Short Duration Bond Fund (Active ETF SGD Class)
This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. It is for information only, and is not a recommendation, offer or solicitation to deal in any capital markets products or investments and does not have regard to your specific investment objectives, financial situation, tax position or particular needs.
The LionGlobal Short Duration Bond Fund (the “Fund”) is not like a typical unit trust offered to the public in Singapore. The Fund comprises both classes of units listed and traded on the Singapore Exchange (“SGX-ST”) and classes of units which are neither listed on the SGX-ST nor any other stock exchange.
You should read the prospectus and Product Highlights Sheet for the Fund, which is available and may be obtained from Lion Global Investors Limited (“LGI”) or any of the appointed Participating Dealers (“PDs”), agents or distributors (as the case may be) for further details including the risk factors and consider if the Fund is suitable for you and seek such advice from a financial adviser if necessary, before deciding whether to purchase units in the Fund. Applications for units in the listed or unlisted classes of the Fund must be made in the manner set out in the prospectus. Investments are subject to investment risks including the possible loss of the principal amount invested.
Investments in the Fund are not obligations of, deposits in, guaranteed or insured by LGI or any of its affiliates and are subject to investment risks including the possible loss of the principal amount invested. The performance of the Fund is not guaranteed and the value of units in the Fund and the income accruing to the units, if any, may rise or fall. Past performance, payout yields and payments as well as any predictions, projections, or forecasts are not necessarily indicative of the future or likely performance, payout yields and payments of the Fund. Any extraordinary performance may be due to exceptional circumstances which may not be sustainable. Any dividend distributions, which may be either out of income and/or capital, are not guaranteed and subject to LGI’s discretion. Any such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value of the Fund. Any references to specific securities are for illustration purposes and are not to be considered as recommendations to buy or sell the securities. It should not be assumed that investment in such specific securities will be profitable. There can be no assurance that any of the allocations or holdings presented will remain in the Fund at the time this information is presented. Any information (which includes opinions, estimates, graphs, charts, formulae or devices) is subject to change or correction at any time without notice and is not to be relied on as advice. You are advised to conduct your own independent assessment and investigation of the relevance, accuracy, adequacy and reliability of any information or contained herein and seek professional advice on them. No warranty is given and no liability is accepted for any loss arising directly or indirectly as a result of you acting on such information. The Fund may, where permitted by the prospectus, invest in financial derivative instruments for hedging purposes or for the purpose of efficient portfolio management. LGI, its related companies, their directors and/or employees may hold units of the Fund and be engaged in purchasing or selling units of the Fund for themselves or their clients.
The Fund is an actively managed fund. Please refer to the Prospectus for further details, including a discussion of certain factors to be considered in connection with an investment in the listed units of the Fund on the SGX-ST.
The listed units of the Fund are listed and traded on the Singapore Exchange (“SGX”), and may be traded at prices different from their net asset value, suspended from trading, or delisted. Such listing does not guarantee a liquid market for the units. You cannot purchase or redeem listed units in the Fund directly with the manager of the Fund, but you may, subject to specific conditions, do so on the SGX or through the PDs.
© Lion Global Investors Limited (UEN/ Registration No. 198601745D). All rights reserved. LGI is a Singapore incorporated company and is not related to any corporation or trading entity that is domiciled in Europe or the United States (other than entities owned by its holding companies).