Global investment management fund Franklin Resources Inc, which trades under the name Franklin Templeton Investments, has disposed off 700,00 units in Signapore-listed Industrial REIT Cambridge Industrial Trust (SGX:J91U).

Cambridge Industrial Trust maintains a portfolio of 51 industrial properties across Singapore

The units were worth in S$466,760 in totality and brings down the fund manager's stake in the REIT to 6.99 percent from 7.05 percent previously. The units were disposed via a market transaction. Franlin Resources still hold on to about 85.9 million.

Units of Cambridge Industrial Trust closed the day 0.76 percent higer to end at S$0.66 on the Singapore Exchange.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.