Highlights:
- Smartkarma launches maiden suite of Indices underpinned by research-driven model portfolios and thematic baskets
- Debut of Singapore Value-Up Indices to support the ongoing drive to unlock shareholder value on Singapore’s Listed Companies
- Launch builds on the Singapore equity market reform momentum and recent value-unlock initiatives led by the Monetary Authority of Singapore (“MAS”) along with its Equity Market Development Programme (“EQDP”)
Singapore, 29 September 2025 – Smartkarma, the global investment intelligence platform, in conjunction with its work in relation to the Equity Market Development Programme (“EQDP”), is proud to announce the launch of Smartkarma Indices – its suite of model portfolios and thematic baskets that provide a quantifiable representation of high-conviction, research-driven investment themes. Unlike traditional passive benchmarks, Smartkarma Indices are designed with high active share and inbuilt risk management, giving investors exposure to structural themes while targeting superior risk-adjusted returns.
As part of this initiative, Smartkarma is introducing the Singapore Value-Up Indices (“SG VUP”), in line with the SGX’s growing focus on governance, disciplined capital allocation and shareholder-focused reforms. Designed to discover and procure greater appreciation of under-valued companies listed on the SGX, the SG VUP series serve to unlock the value of listed companies on the SGX as they embark on strategic transformation, restructurings, spin-offs, capital recycling and thematic pivots. As a whole, the Smartkarma Value-up Index family will serve to capture the pulse of companies listed across key stock exchanges actively reshaping their business models to unlock latent value and reflect growing global investor appetite to discover growth, governance and transparency as well as long-term shareholder value creation.
MAS-Led Market Reform
The launch of Smartkarma Indices build on momentum set in motion by the Monetary Authority of Singapore’s market reforms and supports listed companies in their value creation journey by immediately spotlighting them to global investors even as their equity listing on the SGX continue to serve as a gateway to raise further capital in support of business growth and long-term shareholder returns.
Smartkarma Indices provide investible representations of long-term, research-driven themes surfaced on the Smartkarma intelligence platform. By codifying insights into model portfolios and thematic baskets, Smartkarma creates new intellectual property and establishes a common language for investors and research providers to align around. Powered by AI-driven analytics, these indices combine human expertise with machine intelligence to capture themes with greater depth and precision.
Key Differentiators
- Thematically anchored – capturing enduring and emerging investment narratives surfaced on Smartkarma’s Research Platform
- Active Risk Managed – with high active share and inbuilt risk management targeting superior risk-adjusted returns
- Robust foundation – powered by Smartkarma’s proprietary data analytics, and quant-research capabilities
Smartkarma’s Singapore Value-Up (SG VUP) Indices
The Singapore Value-Up Indices capture the structural shift among SGX-listed companies toward stronger governance and capital discipline – translating corporate restructuring and reform into a scalable, measurable and actionable theme.
Series Overview
Series | Description | Return^ | CAGR^ | PE | Yield |
Smartkarma SG ALLCAP VUP | 50-stock all-capitalisation portfolio | 169.8% | 20.1% | 14 | 5% |
Smartkarma SG SMIDCAP VUP | 50-stock small and mid-cap focused | 127.6% | 16.4% | 13.7 | 4.9% |
Smartkarma SG LARGECAP VUP | 30-stock large-cap portfolio | 51.3% | 7.9% | 18.5 | 4.1% |
Smartkarma SG ALLCAP-LQD VUP | 50-stock liquid portfolio | 85.9% | 12.1% | 17 | 4.7% |
^All performance metrics are for the period May 2020 – Sep 2025
The Singapore Benchmark is up 66.8% on a comparable basis. As of 25 Sep 2025
A Catalyst for Singapore’s Market
The recent wave of corporate actions by SGX-listed companies – from Singtel’s capital recycling to Keppel’s portfolio rationalisation to name a few – underscores how decisive value unlocking initiatives can create significant shareholder value.
Raghav Kapoor, Co-founder and CEO of Smartkarma said: “The seeds are sown. Now comes the harvest. If Singapore can foster its own version of Japan’s disciplined governance reforms and South Korea’s benchmarking approach, the city-state can transform its market into a regional exemplar of value creation.”
Chan Kum Kong, MD, Head of Capital Market Development, SGX Group said: “Smartkarma’s Value-Up Indices are a timely addition to the Singapore stock market, showcasing the long-term potential of SGX-listed companies. We welcome opportunities to collaborate with partners who share our vision of advancing market transparency, corporate governance and investor engagement.”
By codifying insights into active Indices, Smartkarma is turning shareholder-focused reform into measurable, investible progress.
“Our Singapore Value-Up series is a tangible step in giving a quantifiable representation to reforms. Importantly, the family reframes how we define value and aims to rediscover SGX listed companies whose stories, strategies, and stakeholder alignment are ready to resonate with global investors. We’re proud to champion a new lens for capital discovery,” said Surya Ravikumar, Smartkarma’s Head of Data Strategy.
More information is available at indices.smartkarma.com.
About Smartkarma
Smartkarma’s AI-augmented platform delivers real-time insights, advanced data analytics, and direct connectivity to top-ranked investment analysts. We serve global institutional investors, leading sell-side firms, and exchanges, offering innovative content and data analytics intelligence across sectors and asset classes. Shareholders include Singapore Exchange (SGX), Enterprise Singapore’s Seeds Capital, Peak XV (formerly Sequoia Capital India), Wavemaker, and Jungle Ventures. Learn more at smartkarma.com
