Artist's impression of the BlueRidge Phase II of Ascendas India Trust. (Photo: Ascendas India Trust)

US-based global asset manager Massachusetts Financial Services has acquired 983,330 units of Singapore-listed Indian IT park landlord Ascendas India Trust (SGX:CY6U).

The units were acquired in the open market on 4 December for SGD0.86 per unit. According to the asset manager, the units were acquired on behalf of various clients for which Massachusetts Financial Services has investment discretion for.

The divestment increases Massachusetts Financial Services’ stake in Ascendas India Trust to 7.07% from 6.96% previously. The asset manager currently has a deemed interest of 65.4 million units in the business trust.

Massachusetts Financial Services earlier announced in late November 2015 that it had disposed 1.3 million units in the trust on the 25th of that month.

Units of Ascendas India Trust last changed hands on the Singapore Exchange at SGD0.86.

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.