United States based investment advisory firm Matthews International Capital Management has increased its stake in Singapore-listed Retail REIT CapitaRetail China Trust (CRCT) (SGX:AU8U) by purchasing a total of 415,000 units of the REIT via a series of market transactions.

CapitaRetail China Trust holds a portfolio of 9 retail properties across China

With these transactions, Matthews International now holds a 8.03 percent stake in CapitaRetail China Trust, up from 7.98 percent previously.

Matthews Investment Capital Management is a registered investment advisor that transacts in units of CRCT on behalf of its clients. Units of CRCT are held via a local custodian in the US. Notification of the above changes comes on the back of news that CRCT is in the process of acquiring the Grand Canyon Mall in Beijing.

Units of CRCT have closed the day higher by 1.3 percent to end at S$1.46 on the Singapore Exchange.