Singapore Exchange · ETF
Invest in MMS ETF from India
Indian and foreign residents can buy Phillip Money Market ETF (MMS) units directly through Paasa.
By Paasa · Updated
MMS at a glance
- Price
- S$103.24+S$0.00 (0.00%)
- Expense ratio
- —
- Day range
- S$103.17 – S$103.40
- Assets
- —
- Domicile
- Singapore
- Holdings
- —
- Launched
- —
- Dividends
- —
- 1 month
- -0.15%
- 6 months
- +0.02%
- YTD
- -0.31%
- 1 year
- -0.12%
- 5 years
- +2.97%
Price change, excluding dividends.
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| MMTSESPhillip SGD Money Market ETF | — | — |
Assets are shown in each fund's own reporting currency.
How to invest in MMS from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit, and Interactive Brokers converts the dollars to SGD when you buy.
Step 3
Search MMS and buy
Find the fund by its ticker, MMS, on the Singapore Exchange, and place your order.
Why invest in MMS from India
What MMS holds
The investment objective of this Sub-Fund is to seek to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE SGD 3-month SOR Index or any replacement index which references the SORA and provides for the same or substantially similar exposure as the FTSE SGD 3-month SOR Index.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Frequently asked questions
Can I buy MMS from India?
Yes. Indian residents can buy Phillip Money Market ETF (MMS) through Paasa. It is listed on the Singapore Exchange and trades in SGD. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What tax do I pay in India when I sell MMS?
Singapore does not levy capital gains tax on the sale of shares, ETFs or REITs. In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the SGD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.