SG9999002414

LionGlobal Singapore Trust Fund(SG9999002414)

Equities
Singapore
USD Cash
Accumulating

Invest with

USD cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund aims to achieve long-term capital appreciation by investing primarily in securities of companies incorporated in, operating principally from, or deriving significant business presence or risk exposure from, Singapore. The investments of the ...

Key information

Annual report

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Product Highlight Sheet

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Prospectus

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Factsheet

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Our perspective

Why we think this fund is best-in-class

Product

The Fund, with over SGD 1 billion in fund size, invests in companies that are incorporated in Singapore, operate primarily in Singapore, or derive significant business exposure from the country. The portfolio is diversified across sectors and market capitalisations. The Singapore strategy has one of the longest track records among Singapore-focused equity strategies and has consistently maintained meaningful exposure to small and mid-cap (“SMID”) since 2014 which provides a differentiated exposure relative to benchmark-oriented strategies and access to a segment of the market that is often underrepresented.

People

Founded in 1986, Lion Global Investors (“LGI”) is one of the leading asset managers in Singapore, overseeing more than SGD 70 billion in assets. The firm has deep expertise in Singapore investing, overseeing over SGD 30 billion across a broad range of Singapore-focused strategies including equities, balanced portfolios, REITs, fixed income, liquidity funds, ETFs and segregated mandates. The Fund is managed by two portfolio managers (“PMs”), Erica and Kenneth, who have a combined 40+ years of experience in Asian equities and have managed Singapore equity strategy together since 2014. Both PMs are supported by four Asia ex-Japan equity analysts, with the analysts mainly covering STI constituents while the PMs focus on non-STI constituents, particularly within the SMID.

Performance

The fund aims to generate long term capital appreciation by outperforming the FTSE Straits Times All-Share Total Return Index. Since inception, the fund has outperformed its reference benchmark* on an annualised net-of-fee basis. (*On 2 March 2026, the benchmark was changed from MSCI Singapore Index to FTSE Straits Times All-Share Index.) The team’s stock selection capabilities have been a key driver of returns, with ~70% of the fund’s historical outperformance attributable to investment in SMID.

Process

Constructs a well-diversified portfolio of 90-120 Singapore equities, with ~30-40% allocated to SMID. The investment process follows six key steps: defining the investment universe, idea generation, fundamental research, stock evaluation, portfolio construction, and risk management. When assessing investment opportunities, the team focuses on four pillars—business quality, management, valuation, and catalysts. Investment ideas are then reviewed through weekly team meetings and smaller group discussions before being added to the approved investment list.

Cost

Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

Suitable for investors seeking long-term capital appreciation through a diversified portfolio of Singapore equities, the Fund can serve as a core allocation within a Singapore equity portfolio or as a satellite position within a broader diversified portfolio. The strategy also complements passive STI-tracking funds by providing active exposure to a wider opportunity set, particularly within SMID. Investors should remain mindful that the Fund is a single-country equity strategy and will likely experience periods of heightened volatility and make sure their portfolio remains geographically diversified in most cases. The fund is focused on a single country, Singapore and has notable exposure to the Financials and Industrial sectors, which may involve specific country-related and sector-related risks.

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Performance

Daily data as of 12 Jul 2026.

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

620.29%

YTD

11.92%

1 month

3.86%

6 month

9.18%

1 year

36.29%

3 year

129.21%

5 year

108.33%

10 year

213.71%

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-64.34%

Volatility

17.91%

Calendar returns

Monthly data as of Jul 2026.

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	4.0%	3.7%	-4.9%	7.1%	1.9%	-4.2%	-	-	-	-	-	-
2025	47.1%	4.0%	1.6%	2.2%	0.5%	5.8%	3.2%	4.9%	10.6%	0.9%	2.6%	-0.8%	4.1%
2024	36.5%	-5.3%	0.3%	4.6%	5.6%	3.4%	1.1%	5.5%	4.7%	9.1%	-2.9%	7.9%	-1.4%
2023	4.6%	7.2%	-5.3%	5.1%	-1.0%	-6.8%	1.6%	9.5%	-7.1%	-0.6%	-5.2%	1.6%	7.3%
2022	-11.4%	-1.1%	-1.3%	1.5%	-7.4%	-2.8%	-7.2%	5.1%	-0.8%	-5.9%	0.1%	10.6%	-1.5%
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Top Exposures

Holdings

Regions

Sectors

DBS Group Holdings Ltd	19.52%
Oversea-Chinese Banking Corp Ltd	11.44%
United Overseas Bank Ltd	8.03%
Singapore Telecommunications Ltd	5.68%
Jardine Matheson Holdings Ltd	5.15%
Singapore Exchange Ltd	2.55%
Food Empire Holdings Ltd	2.12%
Keppel Ltd	2.09%
iFAST Corp Ltd Shs Reg S	2.04%
Ultragreen Ai Ltd Ordinary Shares	1.99%
SATS Ltd	1.99%
UOL Group Ltd	1.72%
Wilmar International Ltd	1.71%
Seatrium Ltd	1.68%
Singapore Technologies Engineering Ltd	1.67%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.39%0.77% p.a.

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Fund facts

ISIN

SG9999002414

Fund house

Lion Global Investors Ltd

Fund inception date

02 Aug 2004

Fund class currency

USD

Fund share class

USD

Oldest share class ISIN

SG9999002406

Oldest share inception date

03 Mar 1989

Pricing frequency

Daily

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