The iShares MSCI Asia ex-Japan Climate Action ETF has crossed US$1.22 billion in assets under management ( AUM ), making it one of the largest Singapore-domiciled exchange-traded funds ( ETFs ) in terms of AUM.

The fund, launched by global asset manager BlackRock on September 2023 – in close collaboration with the Singapore Exchange ( SGX Group ) and a consortium of regional investors – with an initial AUM of US$426 million ( S$580 million ), was then, according to the asset manager, Singapore’s largest-ever equity ETF launch.

A recent US$708 million investment, as of January 7 2025, from Finnish Pension Fund Ilmarinen has brought the fund to its new AUM, the asset manager notes, and highlights the transformational opportunities that Asia-Pacific and Singapore can provide investors globally who have climate-focused objectives.  

“Singapore has had a major role in global climate leadership and is well-positioned to serve as a regional platform to facilitate cross-border public and private finance for the low-carbon transition,” says Deborah Ho, BlackRock’s country head of Singapore and regional head of Southeast Asia. “[The fund] continues to attract interest from investors from across the world, highlighting the growing demand for transition investing within Singapore, the region and beyond.”

Michael Syn, SGX president, adds: “The success of the fund, backed by investors such as Singlife, Prudential and now Ilmarinen, is a landmark achievement. It not only celebrates the ETF’s growth but also reinforces Singapore’s standing as a global leader in sustainable finance and climate action.”