American-based global asset manager Massachusetts Financial Services (MFS) has increased its stake in Singapore-listed Ascendas India Trust(a-itrust)(SGX:CY6U) to 5.01 per cent from 4.95 per cent with the acquisition of new 611,000 units from the market. The units were purchased at S$0.833 each.

Ascendas India Trust is the first Indian property trust in Asia. Its principal objective is owning income-producing real estate throughout India including world-class IT business parks such as the International Tech Park Bangalore and International Tech Park Chennai.

Photo: Ascendas India Trust Prospectus

MFS holds deemed interests in Ascendas India Trust through multiple subsidiaries and various clients of MFS which holds units in Ascendas India Trust for which MFS has investment and/or voting discretion. The acquisition brings total holdings in the trust to 45,754,000 units from 45,143,000 units previously. Ascendas India Trust closed the trading day at S$0.82.