Manulife US REIT's 1100 Peachtree Street in Atlanta. (Photo: Manulife US REIT)

Manulife US REIT announced on 23 November that it will be included in the MSCI Singapore Small Cap Index from the last day of the month.

The index is designed to measure the performance of the small cap segment of the Singapore equities market.

As at 31 October 2016, the MSCI Singapore Small Cap Index has 67 constituents, and represents approximately 14% of the free float-adjusted market capitalisation of the Singapore-listed equities.

Manulife US REIT’s inclusion came as a result of a quarterly review of the index that has been done with the objective better reflecting changes in the Singapore equities market.

The inclusion is expected to improve the office REIT’s visibility among local and global investors.

Other REITs on the index include Keppel REIT, and the four Mapletree REITs.

Units of Manulife US REIT finished the trading day about 1.2% higher from its previous close on the Singapore Exchange to end at SGD0.81.

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.