- Since our last thematic report in September 2024 on trends in S-REITs’ management fee structures (Singapore REITs - Hunt For Higher Yields; Search For Sustainable Fee Structure), we noted a continued shift towards paying management fees in cash rather than units. Payment of fees in units has been a regular occurrence for a long time.
- - Read this at SGinvestors.io -
Focusing on sustainability of returns.
- Given that close to two-thirds of S-REITs share prices are trading below their respective net asset values (NAVs) as of May 2025, S-REIT managers have become more mindful of potential dilution impacts on NAVs. In recent quarters, many have opted to take a higher proportion of management fees in cash, a move we view as supportive of a more sustainable distribution yield supported by recurring cashflows.
- - Read this at SGinvestors.io -
Notable management fee structure shifts in FY24.
- Read more at SGinvestors.io.
