Amundi launches fund that tracks ST Index

European asset manager's unit-trust-based fund is on Endowus investment platform

- Sue-Ann Tan Business Correspondent

European asset manager Amundi has launched a fund that tracks Singapore's benchmark Straits Times Index (STI) with investment platform Endowus.

The Amundi Singapore Straits Times is the first unit-trust-based index fund tracking the STI by a global asset manager in Singapore, both companies said on July 16 as they announced the fund's official launch.

The fund also commemorates SG60, a celebration of Singapore's independence and transformation into a global economic powerhouse, they added.

The STI, a benchmark of Singapore's established listed companies, has been hitting new highs, with an intraday high of 4,129.8 points reached on July 15. In 2024, it delivered total returns of 24.3 per cent - its best performance in a decade.

"Through the fund, investors can participate and grow alongside Singapore's ongoing growth story in a low-cost, meaningful way," the companies said.

Two other exchange-traded funds (ETFs) in Singapore already track the STI - the SPDR Straits Times Index ETF and the Nikko AM Singapore STI ETF. The three funds aim to replicate as closely as possible, before expenses, the performance of the STI.

The SPDR Straits Times Index ETF was listed in 2002. Between Jan 1, 2020, and July 14, 2025, its assets under management increased by 131 per cent to $1.92 billion.