United States-registered business trust, Matthews International Funds (MIF), has disposed off 242,500 units of Singapore-listed Ascendas India Trust (SGX:CY6U).

The units were disposed via a market transaction for SGD209,775.25, translating to about SGD0.86 received per unit disposed.

With the the disposal, MIF’s deemed interest in Ascendas India Trust is now at 55,437,500 units or a stake of 5.99%, down from 55,680,000 or a stake of 6.02% units previously.

“The percentage change is the result of a series of transactions that occurred since MIF's most recent filing triggered as of 26 August 2015”, said the trust in a filing with the Singapore Exchange on 31 December.

“Matthews International Capital Management (MICM), is the investment advisor to MIF. MICM, which as investment advisor has discretionary authority over its clients' holdings, separately reports its interest in [Ascendas India Trust] units owned by MIF and other clients”, the trust added.

Units of Ascendas India Trust are currently listed on the Singapore Exchange at SGD0.87.