Target Value Fund has disposed off 2 million units of Japan-focused, Singapore-listed retail landlord, Croesus Retail Trust (SGX:S6NU).

The units were disposed on 18 February for a total consideration of SGD1.57 million, documents filed with the Singapore Exchange four days later disclosed. This translated to about SGD0.785 received per unit sold.

After the disposal, Target Value Fund has a remaining hold on 37.1 million units of Croesus Retail Trust, representing a stake of 5.83% - down from 6.15% previously.

Target Value Fund is managed by Singapore-based Target Asset Management Pte Ltd. The company specialises in equity investments in Asian markets, according to a description on the company’s website.

Units of Croesus Retail Trust hands on the Singapore Exchange at SGD0.785.