Waterway Point, of which a stake is being acquired by Frasers Centrepoint Trust. (Photo: REITsWeek)Waterway Point, of which a stake has been acquired by Frasers Centrepoint Trust. (Photo: REITsWeek)

Retail REIT Frasers Centrepoint Trust (FCT) will be included in the Straits Times Index with effect from 18 March 2024.

FCT, which presently owns a portfolio of 10 suburban retail malls across Singapore, will join other stalwart REITs that have been on the index, including CapitaLand Ascendas REIT and CapitaLand Integrated Commercial Trust (CICT).

“We are delighted that FCT will be included as a constituent of the STI, the benchmark index of the 30 largest listed companies on the Singapore Exchange”, said Richard Ng, CEO of the REIT’s manager.

“This is an important milestone in FCT’s growth journey and we are confident that this will further enhance FCT’s profile among the investors in Singapore and globally”, he added.

The STI is a benchmark index and market barometer which tracks the performance of the top 30 companies listed on the Singapore Exchange.

It is widely followed by investors and is used as the basis for a range of financial products including Exchange Traded Funds (ETFs), warrants, futures and other derivatives.

FTSE Russell is the index administrator.

FCT was last done on the Singapore Exchange at SGD2.19, which presently implies a distribution yield of 5.55% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.