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The five REITs were RHT Health Trust (+98.2 percent), Ascendas Hospitality Trust (+38.6 percent), Ascendas India Trust (+35.3 percent), Lippo Malls Indonesia Retail Trust (+34.9 percent) and Mapletree Commercial Trust (+30.1 percent).
The five best-performing constituents of the iEdge S-REIT Index averaged a total return of 47.4 percent during the first seven months of 2019, revealed Singapore Exchange (SGX) on Thursday (15 August).
The five REITs were RHT Health Trust (+98.2 percent), Ascendas Hospitality Trust (+38.6 percent), Ascendas India Trust (+35.3 percent), Lippo Malls Indonesia Retail Trust (+34.9 percent) and Mapletree Commercial Trust (+30.1 percent).
The iEdge S-REIT Index is described as “a free-float, market capitalisation-weighted index that tracks the performance of REITs listed on SGX”. It has 36 constituents with a combined market capitalisation of more than $95 billion.
The iEdge S-REIT Index clocked a total return of 19.7 percent during the year-to-date period, compared with total returns of 22.8 percent for the MSCI ACWI REITs Index and 16.3 percent for the FTSE EPRA NAREIT Asia ex-Japan REITs Index, in US dollar terms.
SGX revealed that four of the five best-performing REITs are in the hospitality/tourism, office, retail and industrial segments.
“Note that RHT Health Trust is a cash trust, after it completed the disposal of its entire portfolio of healthcare assets to its controlling unitholder, Fortis Healthcare, in January this year,” it said.
Fortis Healthcare had said in June that it had aborted plans to divest its stake within RHT and its trustee manager, following its failure “to receive a commercially viable proposal from potential buyers”.
“RHT’s trustee manager has said it will continue to explore various options for RHT, including identifying possible new businesses that would satisfy SGX’s new listing requirements, or the winding up of the trust.”
Based on listing rules, RHT will be removed from the official list of SGX if it fails to meet the new listing requirements within 12 months of becoming a cash trust.
SGX has 35 REITs on its list, along with three property trusts and seven stapled trusts.
Between January and July 2019, Singapore REITs registered a total institutional inflows of $187.1 million, with April and July posting outflows of $147.9 million and $209.2 million respectively.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg