The New Standard in Wealth Management, Wealth Management Alliance

Wealth Management Alliance

The New Standard in Wealth Management

WMA is a Singapore-based multi-family office with a Capital Markets Services license and provide fund management and investment advisory services to a small number of global UHNW clients. We also act as incubator for single-family offices, allowing them to plug into our broader ecosystem and infrastructure, and tap on our investment professionals for advice. WMA is designed around providing truly bespoke advice to each client, rather than taking a one-size-fits-all approach that may not fit each client's investment objectives and risk tolerances. On top of that, we are designed so that we avoid any semblance of conflicts of interests by being compensated only by the client (which may include profit sharing), as opposed to the model that many of our peers adopt, which include compensation from a variety of third parties such as funds managers, distributors or banks. That, to us, is the easiest way to be firmly on the side of the client in every decision we make.

Thematic (Sector/Industry)

<ul><li>In this strategy update, we look at the two new stock indices - the iEdge Singapore Next 50 Index and the iEdge Next 50 Liquidity Weighted Index - released by the SGX on 22 September 2025.</li><li>The two new indices cover the next 50 largest companies listed on the SGX Mainboard, excluding the 30 largest companies by market capitalization (which are covered by the benchmark Straits Times Index, STI).</li><li>The 50 constituent companies are identical for both new indices, but the first is weighted by free-float market capitalization while the second is weighted by turnover to capture the relative liquidity of the constituents.</li></ul>

In this strategy update, we look at the two new stock indices - the iEdge Singapore Next 50 Index and the iEdge Next 50 Liquidity Weighted Index - released by the SGX on 22 September 2025.The two new indices cover the next 50 largest companies listed on the SGX Mainboard, excluding the 30 largest companies by market capitalization (which are covered by the benchmark Straits Times Index, STI).The 50 constituent companies are identical for both new indices, but the first is weighted by free-float market capitalization while the second is weighted by turnover to capture the relative liquidity of the constituents.

Invest for a Sustainable Future, Impact Capital Asset Management

ICAM

Invest for a Sustainable Future

Impact Capital Asset Management

Established in August 2020, Impact Capital Asset Management Pte. Ltd. (ICAM) was conceived by seasoned professionals Deepak Mawandia and Atul Tetambe. Both have accumulated a wealth of knowledge and experience from their extensive tenures in the financial sector. In 2019, ICAM secured its RFMC license and subsequently introduced a technology-centric venture fund. By 2021, with the acquisition of its CMS license, ICAM witnessed steady growth in its assets under management. Presently, ICAM manages a portfolio exceeding USD 1 billion, diversified across various countries. Central to ICAM’s foundation is a commitment to offering a platform singularly dedicated to the best interests of its investor clients. The combined expertise of Deepak and Atul firmly establishes ICAM as a notable entity in the wealth management field.

<ul>
<li>Over the past five years, Southeast Asia’s e -commerce industry has changed from chasing market share to improving profitability.</li>
<li>Singapore’s advantage in e -commerce lies in its dense logistics network and limited industrial land.</li>
<li>Every online order ends with a digital payment, and this layer generates steady revenue for service providers.</li>
</ul>


Over the past five years, Southeast Asia’s e -commerce industry has changed from chasing market share to improving profitability.
Singapore’s advantage in e -commerce lies in its dense logistics network and limited industrial land.
Every online order ends with a digital payment, and this layer generates steady revenue for service providers.


Alpha-Centric ESG Research

Kyle Rudden

<ul><li>New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding <em>mandatory</em> Scope 3 emissions reporting.</li><li>The implications for S-REITs are significant. Real Estate is one of the most emissions-intensive sectors, and Scope 3 emissions comprise 85-95% of total emissions for real estate companies.</li><li>Motivated by a strong "business case" for best-in-class climate performance and transparency, many S-REITs are ahead of the curve, evidenced by prominence in climate-related indexes.</li></ul>

New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding mandatory Scope 3 emissions reporting.The implications for S-REITs are significant. Real Estate is one of the most emissions-intensive sectors, and Scope 3 emissions comprise 85-95% of total emissions for real estate companies.Motivated by a strong "business case" for best-in-class climate performance and transparency, many S-REITs are ahead of the curve, evidenced by prominence in climate-related indexes.

S-REITs: Climate Disclosures and Inclusion in ESG-Related Equity Indexes

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

<ul><li><a href="https://www.smartkarma.com/entities/aims-amp-capital-industrial" target="_blank" data-smartkarma-citation="entities:933" rel="noopener">AIMS APAC REIT (AAREIT SP)</a> partners with SP Group to install large-scale rooftop solar system across SG properties</li><li><a href="https://www.smartkarma.com/entities/united-hampshire-us-reit" target="_blank" data-smartkarma-citation="entities:28874" rel="noopener">United Hampshire US REIT (UHU SP)</a> set to be included in three indices effective 26Sep22</li><li>New private home sales dropped 48% MoM in Aug22; But take-up rate further rebounded to ~326%   </li></ul>

AIMS APAC REIT (AAREIT SP) partners with SP Group to install large-scale rooftop solar system across SG propertiesUnited Hampshire US REIT (UHU SP) set to be included in three indices effective 26Sep22New private home sales dropped 48% MoM in Aug22; But take-up rate further rebounded to ~326%   

ASEAN Builder's Scoop (16Sep22) - AAREIT Partners SP Group in ESG Move

<ul><li><a href="https://www.smartkarma.com/entities/aims-amp-capital-industrial" target="_blank" data-smartkarma-citation="entities:933" rel="noopener">AIMS APAC REIT (AAREIT SP)</a> 1Q23 DPU +1.3% YoY; Robust occupancies and rental reversion continue to drive organic growth</li><li><a href="https://www.smartkarma.com/entities/mapletree-industrial-trust" target="_blank" data-smartkarma-citation="entities:40" rel="noopener">Mapletree Industrial Trust (MINT SP)</a> 1Q23 DPU +4.2% YoY; Flat quarterly performance despite occupancies trending up</li><li><a href="https://www.smartkarma.com/entities/keppel-dc-reit" target="_blank" data-smartkarma-citation="entities:85" rel="noopener">Keppel DC REIT (KDCREIT SP)</a> 2Q22 DPU +4.8% YoY; Robust occupancy, trading attractively at 5.3% FY23E yield</li></ul>

AIMS APAC REIT (AAREIT SP) 1Q23 DPU +1.3% YoY; Robust occupancies and rental reversion continue to drive organic growthMapletree Industrial Trust (MINT SP) 1Q23 DPU +4.2% YoY; Flat quarterly performance despite occupancies trending upKeppel DC REIT (KDCREIT SP) 2Q22 DPU +4.8% YoY; Robust occupancy, trading attractively at 5.3% FY23E yield

ASEAN Builder's Scoop (26Jul22) - AAREIT Robust Operating Metrics

Singapore

AIMS APAC REIT is a real estate investment trust that invests in and manages a diversified portfolio of income-producing industrial, logistics, and business park properties across the Asia-Pacific region. It provides leasing and rental services for assets used in warehousing, distribution, business park, light industrial, high-tech, and manufacturing activities. The company is headquartered in Singapore and was incorporated in 2006.

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AIMS APAC REIT (AAREIT SP)

Singapore Equity Strategy: October 2025

In this strategy update, we look at the two new stock indices - the iEdge Singapore Next 50 Index and the iEdge Next 50 Liquidity Weighted Index

Wealth Management Alliance

E -Commerce in Singapore

Over the past five years, Southeast Asia’s e -commerce industry has changed from chasing market share to improving profitability. Singapore’s...

ICAM

ASEAN Builder's Scoop (16Sep22) - AAREIT Partners SP Group in ESG Move

UHU included in 3 indexes; New home sales take-up rate reached >300% in Aug22; FPL green note oversubsribed; New private home sales dropped 48% MoM...

SCCM Asia Research

ASEAN Builder's Scoop (26Jul22) - AAREIT Robust Operating Metrics

MINT flat quarterly performance; KDCREIT trades attractively at 5.3% yield; CLCT expects retail recovery in 2H22; OUECT massive hotel turnaround;...

SCCM Asia Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Singapore Equity Strategy: October 2025

In this strategy update, we look at the two new stock indices - the iEdge Singapore Next 50 Index and the iEdge Next 50 Liquidity Weighted Index

Wealth Management Alliance

E -Commerce in Singapore

Over the past five years, Southeast Asia’s e -commerce industry has changed from chasing market share to improving profitability. Singapore’s...

ICAM

S-REITs: Climate Disclosures and Inclusion in ESG-Related Equity Indexes

​New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding...

Kyle Rudden

ASEAN Builder's Scoop (16Sep22) - AAREIT Partners SP Group in ESG Move

UHU included in 3 indexes; New home sales take-up rate reached >300% in Aug22; FPL green note oversubsribed; New private home sales dropped 48% MoM...

SCCM Asia Research

ASEAN Builder's Scoop (26Jul22) - AAREIT Robust Operating Metrics

MINT flat quarterly performance; KDCREIT trades attractively at 5.3% yield; CLCT expects retail recovery in 2H22; OUECT massive hotel turnaround;...

SCCM Asia Research

New SGX climate-related disclosure requirements based on ISSB's standards are more stringent than current requirements, most notably regarding...