CapitaLand AscenCapitaLand Ascendas REIT was once again the top Singapore Exchange (SGX)-listed REIT acquired by institutional investors during a trading week.

The REIT saw an SGD27.5 million net inflow of institutional funds during the week that began on 28 August.

CapitaLand Ascendas REIT is a Singapore-heavy REIT, with a portfolio of mostly industrial assets and high-specification factories.

Related: CapitaLand Ascendas REIT sees SGD11.5 million inflow of institutional funds

The REIT also has several office and data centre properties.

This is the second week that it has emerged as a top institutional pick.

CapitaLand Ascendas REIT was also the top REIT acquired by institutional investors during the trading week that began on 21 August.

The fund inflows came amid sustained optimism over the Singapore industrial market.

Figures from Singapore's industrial regulator JTC Corporation several weeks ago showed that rents for industrial spaces across the country rose for an 11th straight quarter in 2Q 2023.

Top 10 Institution Net Buy (+) Stocks (SGD M) Week of 28 August 2023 Top 10 Institution Net Sell (-) Stocks (SGD M) Week of 28 August 2023
Sembcorp Industries 51.3 Venture Corporation (77.1)
CapitaLand Ascendas REIT 27.5 DBS (22.4)
Seatrium 15.1 Genting Singapore (19.2)
SIA 14.0 Yangzijiang Shipbuilding (16.6)
Mapletree Industrial Trust 13.4 CapitaLand Ascott Trust (15.8)
UOB 11.7 OCBC (11.0)
UMS Holdings 9.9 Singtel (10.9)
Keppel Corporation 8.3 OUE Commercial REIT (9.2)
CapitaLand Investment 6.8 Mapletree Logistics Trust (8.1)
Frasers Centrepoint Trust 6.5 CapitaLand Integrated Commercial Trust (7.3)

Source: Singapore Exchange

Besides CapitaLand Ascendas REIT, Mapletree Industrial Trust (MIT) also saw a net inflow of institutional funds.

The REIT saw an SGD13.4 million inflow over the period.

Also seeing a similar movement was Frasers Centrepoint Trust.

Top 10 Retail Net Buy (+) Stocks (SGD M) Week of 28 August 2023 Top 10 Retail Net Sell (-) Stocks (SGD M) Week of 28 August 2023
Sembcorp Industries 14.8 OCBC (18.8)
Venture Corporation 12.9 Seatrium (18.4)
Genting Singapore 12.7 Keppel Corporation (15.7)
CapitaLand Ascott Trust 12.3 Wilmar International (10.7)
Yangzijiang Shipbuilding 7.5 DBS (10.2)
SIA 5.8 UMS Holdings (9.0)
XMH Holdings 5.4 ST Engineering (7.3)
CDL Hospitality Trusts 4.5 UOB (6.8)
Lendlease Global Commercial REIT 3.1 Mapletree Industrial Trust (6.4)
Mapletree Pan Asia Commercial Trust 3.1 SGX (4.9)

Source: Singapore Exchange

During the week, institutional investors were most fond of Sembcorp Industries.

REITs with net outflows of institutional funds include CapitaLand Ascott Trust, OUE Commercial REIT, Mapletree Logistics Trust and CapitaLand Integrated Commercial Trust.

On the other hand, CapitaLand Ascott Trust was the REIT or trust that was most sought after by retail investors.

It was an SGD12.3 million net inflow of retail funds.

Other REITs with net inflows of retail funds include CDL Hospitality Trusts, Lendlease Global Commercial REIT and Mapletree Pan Asia Commercial Trust.

A REIT that saw a net outflow of retail funds was Mapletree Industrial Trust.

Overall during the week, there was an SGD35.5 million net outflow of institutional funds from SGX-listed stocks during the week.

This is a reversal from the SGD147.9 million net inflow seen in the week prior.

On the other hand, there was an SGD46.8 million net outflow of retail funds from SGX-listed during the week.

This is a reversal from the SGD157.5 million net inflow seen in the week prior.

CapitaLand Ascendas REIT was last done on the SGX at SGD2.80, which presently implies a distribution yield of 5.51% according to data on the Singapore REITs table.


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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.