SINGAPORE Exchange is coughing up 186 million euros in cash for a 93 per cent stake in Scientific Beta Pte Ltd, a smart beta index firm.
The strategic investment will strengthen the Singapore bourse operator's research-based index design capabilities as well as broaden its range of index products and clientele. As of end Sept 2019, an estimated US$55 billion in assets owned by global institutions tracked Scientific Beta’s indices. This has risen more than 10 times in four years, on the back of significant growth in factor investing. Assets using factor-based strategies are forecast to reach US$2.7 trillion this year, reflecting a compound annual growth rate of 17 per cent between 2011 and 2020.
SGX chief executive officer , Loh Boon Chye, said Scientific Beta brings a highly regarded research pedigree in the rapidly growing smart beta space, along with a strong suite of high profile clients in the US and Europe."Besides being complementary to our existing SGX Index Edge thematic and custom index capabilities, we also see new product opportunities based on Scientific Beta’s indices," Mr Loh said.
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