Managers urge SGX rethink on ETF pricing

Asset managers and exchange-traded fund providers have called on the Singapore Exchange to change its closing-price mechanism for ETFs, arguing it can lead to portfolio mispricing. At present there are 93 ETFs listed on the SGX, and they are priced according to their last-traded price at the close of a day’s trading. However, some of these funds might not have traded for weeks, so the argument is the price could be way off prevailing levels of indicative net asset value (iNAV), …