San Francisco-based wealth management firm, Matthews International Capital Management (MICM), has disposed off 1,519,000 units of Singapore-listed Ascendas India Trust (SGX:CY6U).

The units were disposed for a total sum of SGD1,257,611 via market transactions. “In this capacity, MICM hereby reports its deemed interest on behalf of all its clients”, said the firm on 22 September. “The percentage change is the result of a series of transactions that occurred since MICM's most recent filing as of July 6, 2015”, the firm added.

With the disposal, Matthews International Capital now holds on to 72.5 million units of Ascendas India Trust on behalf of its clients, representing a deemed interest of 7.85%, down from 8.01% previously.

Units of Ascendas India Trust last changed hands on the Singapore Exchange at SGD0.84, up 1.2% from its previous close.