Retail investors pile into UI Boustead REIT as institutions exit

Retail investors pile into UI Boustead REIT as institutions exit

UI Boustead REIT, the Singapore Exchange's (SGX’s) latest industrial and logistics listing, drew the most notable fund flows among REITs for the trading week that began on 9 March 2026.

UI Boustead REIT made its debut on the SGX mainboard on 12 March 2026 following a landmark SGD1.2 billion initial public offering — the largest REIT listing on the exchange since NTT DC REIT's debut in July 2025.

The REIT's initial portfolio comprises 23 properties — 21 leasehold assets in Singapore and two freehold properties in Japan — with a combined agreed property value of approximately SGD1.9 billion as at 30 September 2025.

Related: UI Boustead REIT sinks 3.4% on trading debut with high volume of married deals

During the latest trading week, retail investors poured in a net SGD22.2 million even as institutional investors were net sellers of the newly listed trust to the tune of SGD20.1 million.

This was likely a reflection of early profit-taking and portfolio rebalancing by cornerstone investors and institutional participants following the REIT's trading debut during the week.

At the same time, retail investor’s net buying suggests enthusiasm for the newly listed REIT despite the stock opening below its IPO price.

Source: Singapore Exchange

CapitaLand Ascendas REIT was the biggest REIT beneficiary of retail fund inflows during the week, with retail investors recording a net buy of SGD26.5 million.

No institutional fund flows in either direction were recorded for CapitaLand Ascendas REIT in the data for the week of 9 March 2026, suggesting that institutional interest in the stock was relatively muted during the period.

CapitaLand Integrated Commercial Trust was the only REIT to feature among the top 10 institutional net buy stocks during the week, with institutions recording a net purchase of SGD10.7 million.

Source: Singapore Exchange

CapitaLand India Trust attracted retail net buying of SGD8.4 million during the week, while institutional investors were net sellers to the tune of SGD12.5 million.

Mapletree Industrial Trust was among the institutional net sell stocks for the week, with institutions recording a net sale of SGD11.0 million.

The REIT did not feature in the top retail fund flow tables for the week.

Turning to the broader picture, institutional investors were net sellers of SGX-listed stocks during the week of 9 March 2026, recording a total net sell of SGD93.0 million.

This was a marked improvement from the SGD144.9 million net sell recorded the previous week, suggesting that institutional selling pressure eased somewhat.

Retail investors, meanwhile, remained net buyers for the week, recording a total net purchase of SGD167.0 million.

However, this was considerably lower than the SGD384.1 million net retail buy recorded the week prior, indicating that retail buying momentum also moderated during the period.

UI Boustead REIT was last done on the SGX at SGD0.835, which presently implies a distribution yield of 8.14% according to data on the Singapore REITs table.

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