The five best-performing constituents of the iEdge S-Reit Index averaged a total return of 47.4 per cent in the first seven months of this year, Singapore Exchange (SGX) said in a research note yesterday.
The five Reits (real estate investment trusts) were RHT Health Trust (+98.2 per cent), Ascendas Hospitality Trust (+38.6 per cent), Ascendas India Trust (+35.3 per cent), Lippo Malls Indonesia Retail Trust (+34.9 per cent) and Mapletree Commercial Trust (+30.1 per cent).
The index, a free-float, market cap-weighted index, tracks the performance of SGX-listed Reits. Its constituents' combined market cap exceeds $95 billion.
In 2019 year to date, the iEdge S-Reit Index clocked total returns of 19.7 per cent, compared with 16.3 per cent for the FTSE Epra Nareit Asia ex-Japan Reits Index, and 22.8 per cent for the MSCI ACWI Reits Index in US dollar terms, SGX said.
Four of the five best-performing trusts are in the hospitality/ tourism, industrial, office and retail segments.
SGX also noted that RHT Health Trust is a cash trust, after disposing of its entire portfolio of healthcare assets to its controlling unit holder, Fortis Healthcare, in January this year.
"RHT's trustee manager has said it will continue to explore various options for RHT," SGX noted, adding that its listing rules will require RHT to be removed from its official list "if the trust is unable to meet requirements for a new listing within 12 months from the time it becomes a cash trust".