2020 was a precarious year for property owners. Globally, travel has grinded to a halt, impacting hospitality properties. Even Retail, office and industrial properties have been affected to varying degrees, given the strict COVID-19 management measures. 2020 also feels like the harbinger of the new normal – accelerating trends to an extreme level. We already knew work-from-home was on the rise, online shopping growth was outpacing sales in brick-and-mortar stores, food delivery services were taking over F&B outlets and more. For REIT owners, distribution income was affected due to various countries implementing some form of cost sharing initiatives as shutdowns and “circuit breakers” we enforced. More than that, REIT investors also have to consider the longer term impacts of COVI

Institutional investors are typically large investors, such as fund management companies, pensions, insurance companies or other non-retail entities, that invest on behalf of others. The investments that they make a sometimes referred to as “smart money” – perhaps because they have the knowledge and expertise to make well-thought investment decisions compared to retail investors. In our 4 Stocks This Week, we look at 4 stocks which received the most “smart money” in December 2020, and analyse how they’ve subsequently performed in December 2020 to the first half of January 2021. Read Also: 4 Best Performing ETFs In 2020 [8 Jan 2021] Xtrackers MSCI China UCITS ETF (SGX: LG9/TID); United SSE 50 China ETF (SGX: JK8); SPDR Gold Shares (SGX: O87); Lyxor MSCI Asia Pacific Ex Japan UCI

STI closed at 2843.81DBS  ($25.04)UOB ($22.59)SPH   ($1.13)NetLink Trust ($0.965)SingTel ($2.31)StarHub ($1.31)CityDev ($7.97)Keppel Infra Trust ($0.545)Olam ($1.53)SIA ($4.28)SIA MCBZ300608 ($0.972)Keppelcorp ($5.38)SembCorp ($1.71)Sembmarine ($0.143)SIA Engineering ($1.97)CDL Trust ($1.27)AsiaPay TV Trust ($0.119)Capital China Trust ($1.39)Ascendas India Trust ($1.38)Lippo Malls Trust ($0.062)SuntecReit ($1.49)OUE Comm Trust ($0.385)StarHillGlobal Reit ($0.505)MapleLogistics Trust ($2.01)SATs ($3.98)First Reit ($0.235)KReit ($1.12)SoilBuild Trust ($0.535)HPH Trust ($0.26)AscotReit($1.08)SingPost ($0.705)Comfortdelgro ($1.67)Dutech ($0.24)Ezion ($0.046)*SunningdaleTech($1.53)Kimly($0.315)UOL ($7.71)ST Engineering($3.82)SBDEC17 GX17120W (25,000)SBOCT18 GX18100V (13,000)ATREA

Quick look at this company.  The NumbersLong term, the numbers are excellent.  They have been growing.  In INR:And DPU has grown too, meaning they did it without too much dilution:The payout ratio has been 90% since 2013, and (I think) 100% before that.  I think it's the only SGX REIT/trust that keeps a little bit of its income for future growth.Just to double check, lets compare the growth rates of debt, units issued and distributable income:Most of their past growth has been funded by debt.  Their last big issue of new units was in November 2019, as a private placement.  They are still only at a 29% gearing, giving plenty of room to grow.There is one catch: the Indian currency (INR) is constantly falling against the SGD:Over ten years it has deprec

On Friday's market opening I sold all my trading portfolio at a small profit.  Think the correction will be short and sharp, maybe 2-4 weeks.  Sharp enough that I don't want to sit through it.  It is not a liquidity event like March, but the market was too frothy - some RobinHoodies and a big options-buying whale need to be cleared out first.For the trading portfolio, I look to buy back copper, oil ad gold miners.  Plus maybe a US housing stock.I kept my investment portfolio holdings, look to add Ascendas India Trust.  Hong Kong Land also looks interesting.

I'm now 95% invested.  85% if we count gold as cash.  Probably for the first time since this blog started.There's always the risk of another market crash, but if we hold cash, we will lose to inflation.  The Fed is always printing.Dividend PortfolioBought large positions in WMB and KMI several weeks ago, after news of Buffet buying into the sector.  These are boring, 'old man' utility stocks...but with some growth potential as their cashflows can fund expansion.Also bought a half position in Delfi - the USD is no longer rising and threatening EMs.  More of a growth stock, but still pays a (trailing) 4% dividend.  Could grow.  Could fall too.I am probably not yet earning enough in dividends to live off, but its getting close.Growth PortfolioThis is all in

Basic Profile & Key StatisticsAscendas India Trust (AIT) is not a REIT, it is listed as Business Trust which own majority properties in IT parks. AIT has been running similar to SREITs which distribute 90% of distributable income. Current market cap is S$ 1.47 billions which is around 15% higher than SREITs median. AIT has the same sponsor as Ascendas REIT, which is Capitaland.Lease ProfileAIT occupancy is high at 99%. WALE is slightly shorter at 3.6 years. Do note that AIT only provide WALE weighted by NLA instead of GRI. After checking with investor relation and verifying with 2019 Annual Report, its floor area and GRI is actually quite similar. Its income is received in Indian Rupee, thus posts forex risk. Currency hedging could not provide protection for long term currencies deprec

Based on 4Q 2019 Result. Click to Enlarge* Ascendas India Trust and Dasin Retail Trust are Business Trusts.The above table is extracted from spreadsheet in SREITs Data page.Dividend Yield:YieldAverageMedianLowestHighestHealthcare8.10%8.10%4.34%11.86%Retail9.16%8.32%5.48%18.13%Office8.18%7.55%4.97%12.02%Hospitality17.49%11.35%9.4%42.71%Industrial8.37%7.66%3.54%13.4%Logistics9.52%10.43%5.07%12.14%* Based on REIT Major SectorFinancial Metrics:Financial MetricsUnitAverageMedianLowestHighestPrice/ NAVtime0.790.710.151.91Market Cap, BS$2.00B0.96B0.17B10.04BProperty Yield (Annualized)%5.895.843.399.30Distribution on Management Feestime8.378.343.9719.02Distribution on Capital (Annualized)%4.114.091.605.64Distribution Margin%52.3554.9821.1771.32* SREITs in Foreign Currencies converted to

STI closed at 3222.83DBS  ($25.88)UOB ($26.41)SPH   ($2.18)NetLink Trust ($0.945)SingTel ($3.37)StarHub ($1.42)CityDev ($10.95)Keppel Infra Trust ($0.54)Olam ($1.81)Wilmar ($4.12)SIA ($9.04)Keppelcorp ($6.77)SembCorp ($2.29)SIA Engineering ($2.82)CDL Trust ($1.62)AsiaPay TV Trust ($0.169)Capital China Trust ($1.61)Ascendas India Trust ($1.55)Lippo Malls Trust ($0.225)SuntecReit ($1.84)OUE Comm Trust ($0.565)StarHillGlobal Reit ($0.725)MapleLogistics Trust ($1.74)SATs ($5.06)First Reit ($0.995)KReit ($1.24)Accordia Golf Trust ($0.67)SoilBuild Trust ($0.52)HPH Trust ($0.235)AscotReit($1.33)SingPost ($0.935)Comfortdelgro ($2.38)Noble ($0.081)Dutech ($0.27)Ezion ($0.046)SunningdaleTech($1.33)Kimly($0.245)UOL ($8.32)DBS$800M4.7%NCPS ($102.8)SBDEC17 GX17120W (25,000)SBJUN18 GX1806