Investment management firm Aberdeen Asset Management Asia Limited acquired 20,054,000 units of Singapore-listed stapled security Far East Hospitality Trust (FEHT) (SGX:Q5T) on 2 June.

The units were purchased via a market transaction for a total aggregate sum of SGD17,045,900, translating to about SGD0.85 paid per unit. FEHT is currently trading at SGD0.87 per unit on the Singapore Exchange, down about 0.5% from the previous close.

The units may have been purchased to take advantage of an almost 3% fall in prices in units of FEHT at the start of the week. FEHT is a stapled group comprising of Far East Hospitality Real Estate Investment Trust and Far East Hospitality Business Trust.

Aberdeen Asset Management Asia manages funds for both private and institutional investors. REITsWeek understands that the units were purchased on behalf of clients and various funds that the company manages.

With the acquisition Aberdeen Asset Management Asia now holds a total of 145.34 million units of FEHT, representing a stake of about 8.2% in the stapled security.