Keppel DC REIT was the top Singapore Exchange (SGX)-listed REIT disposed of by institutional investors for the first trading week of 2024.
The fund outflow came as US Treasury yields began creeping up on signs that the high interest rate environment would persist for much of 2024.
Incidentally, these expectations have also put a damper on the REIT rally that has been happening since late-2023, judging from fund outflows witnessed by other SGX-listed REITs.
Keppel DC REIT is pure play data centre REIT that owns a portfolio of 23 assets across nine countries.
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