Singapore Exchange · ETF
Invest in MMT ETF from India
Indian and foreign residents can buy Phillip Money Market ETF (MMT) units directly through Paasa.
By Paasa · Updated
MMT at a glance
- Price
- $80.52-$0.34 (0.42%)
- Expense ratio
- —
- Day range
- $80.52 – $80.69
- Assets
- —
- Domicile
- Singapore
- Holdings
- —
- Launched
- —
- Dividends
- —
- 1 month
- -0.47%
- 6 months
- -0.75%
- YTD
- -0.04%
- 1 year
- +1.78%
- 5 years
- +8.59%
Price change, excluding dividends.
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| MMSSESPhillip SGD Money Market ETF | — | — |
Assets are shown in each fund's own reporting currency.
How to invest in MMT 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.
Step 3
Search MMT and buy
Find the fund by its ticker, MMT, on the Singapore Exchange, and place your order.
Why invest in MMT from India
What MMT 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.
Hold a dollar asset
MMT is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
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 MMT from India?
Yes. Indian residents can buy Phillip Money Market ETF (MMT) through Paasa. It is listed on the Singapore Exchange and trades in US dollars. 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 MMT?
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 USD/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.