SG Morning Highlights | Singapore Unit Trusts Record Net Outflows of $998M in Q4

Advancers / Decliners is 82 to 46, with 52.04 million securities worth S$82.65 million changing hands.

According to the "Southeast Asia Startup Talent Trends Report 2024" by Glints and Monk's Hill Ventures (MHV), senior product managers in Singapore earn 3.3x more than those in Indonesia and 2.2x more than in Vietnam. The base salary range for senior product managers in Singapore is US$8,000 -US$14,200 monthly, while in SEA, product managers saw the highest increment among all tech roles last year, with a median increase of 27%.

However, salaries have remained relatively unchanged across all markets this year, likely due to a market correction and startups streamlining product roles to optimize costs and resources. Despite this, the demand for more experienced product managers remains strong, driven by a growing emphasis on user-centric product development tailored to specific market needs.

Morningstar's latest Singapore Fund Flow report shows that authorised and recognised unit trusts registered in Singapore recorded net outflows of $998m in the fourth quarter of 2023, pulling back from the $264m net inflows posted in the third quarter. Equities recorded the largest net outflow among the asset classes at $432m, followed by fixed-income assets at $204m. Money market funds booked $150m in net outflows, while allocation and alternative funds saw net outflows of $195m and $16m, respectively. Despite this, the overall performance of funds under the Central Provident Fund Investment Scheme (CPFIS) rose to 3.77% in the fourth quarter, with returns for the 12 months ending 2023 averaging at 7.88%. Morningstar remains cautiously optimistic for both stocks and bonds in 2024, despite moderate valuations, a softening economy, weakening fundamentals, and external shocks.