Private Wealth Management and Asset Management., FPA Financial

FPA Financial

Private Wealth Management and Asset Management.

FPA Financial is an independent and boutique financial firm specializing in private wealth management and asset management.

Equity Bottom-Up

<ul>
<li>Daiwa House Logistics Trust (“DHLT”) is a Singapore Real Estate Investment Trust (“REIT”) that invests in logistics and industrial real estate located across Asia.</li>
<li>As at 31 December 2025, DHLT’s portfolio comprises 18 logistics properties in Japan and one property in Vietnam, with an aggregate Net Lettable Area (“NLA”) of around 499,000 square metres (“sqm”).</li>
<li>DHLT’s portfolio was valued at S$835.2 million as at 31 December 2025.</li>
</ul>


Daiwa House Logistics Trust (“DHLT”) is a Singapore Real Estate Investment Trust (“REIT”) that invests in logistics and industrial real estate located across Asia.
As at 31 December 2025, DHLT’s portfolio comprises 18 logistics properties in Japan and one property in Vietnam, with an aggregate Net Lettable Area (“NLA”) of around 499,000 square metres (“sqm”).
DHLT’s portfolio was valued at S$835.2 million as at 31 December 2025.


Daiwa House Logistics Trust: Company Update (30 April 2026)

<ul>
<li>Daiwa House Logistics Trust (“DHLT”) is a Singapore Real Estate Investment Trust (“REIT”) that invests in logistics and industrial real estate located across Asia.</li>
<li>As at 30 September 2025, DHLT’s portfolio comprises 18 logistics properties in Japan and one property in Vietnam, with an aggregate Net Lettable Area (“NLA”) of 499,128 square metres (“sqm”).</li>
<li>DHLT’s portfolio was last valued at S$882 million.</li>
</ul>


Daiwa House Logistics Trust (“DHLT”) is a Singapore Real Estate Investment Trust (“REIT”) that invests in logistics and industrial real estate located across Asia.
As at 30 September 2025, DHLT’s portfolio comprises 18 logistics properties in Japan and one property in Vietnam, with an aggregate Net Lettable Area (“NLA”) of 499,128 square metres (“sqm”).
DHLT’s portfolio was last valued at S$882 million.


Initiating Coverage: Daiwa House Logistics Trust

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.

Thematic (Sector/Industry)

<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.


Offering Senior Secured Loans, Kilde

Kilde

Offering Senior Secured Loans

Kilde connects family offices, funds, and accredited investors to investment-ready private credit deals in developed and emerging markets. We offer senior secured loans from last-mile lending companies with strong capitalization, a healthy balance sheet, and a capable management team.

<ul>
<li>Singapore’s investment trust market extends beyond traditional REITs, with key trusts in this report offering exposure to shipping, broadband TV, logistics, infrastructure, and hospitality sectors.</li>
<li>Infrastructure and broadband TV trusts can have less correlation to market cycles, offering potential portfolio diversification for income-focused investors.</li>
<li>The selected trusts offer differentiated return streams, each influenced by unique sector fundamentals—providing investors with diversified access to global consumption, infrastructure, trade, and travel themes.</li>
</ul>


Singapore’s investment trust market extends beyond traditional REITs, with key trusts in this report offering exposure to shipping, broadband TV, logistics, infrastructure, and hospitality sectors.
Infrastructure and broadband TV trusts can have less correlation to market cycles, offering potential portfolio diversification for income-focused investors.
The selected trusts offer differentiated return streams, each influenced by unique sector fundamentals—providing investors with diversified access to global consumption, infrastructure, trade, and travel themes.


Singapore Alternative Trusts: Diverse Income, Global Exposure

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>Industrial S-REITs in Singapore show resilient performance with positive rental reversions and proactive leasing and capital management.</li><li>CLAR reported S$1.6 billion in acquisitions, including a Japan data centre, with portfolio occupancy at 90.5%.</li><li>MLT and MINT focus on portfolio rejuvenation through divestments and acquisitions, targeting modern assets and data centres.</li></ul>

Industrial S-REITs in Singapore show resilient performance with positive rental reversions and proactive leasing and capital management.CLAR reported S$1.6 billion in acquisitions, including a Japan data centre, with portfolio occupancy at 90.5%.MLT and MINT focus on portfolio rejuvenation through divestments and acquisitions, targeting modern assets and data centres.

REIT Watch – Industrial S-REITs maintain operational resilience while undertaking portfolio rejuvenation

Singapore

Daiwa House Logistics Trust is a Singapore real estate investment trust (REIT) that invests in a diversified portfolio of income-producing logistics and industrial real estate assets across Asia, primarily in Japan and the ASEAN region. Its portfolio includes modern logistics facilities. The trust was listed on the Singapore Exchange on November 26, 2021, and is headquartered in Singapore.

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Daiwa House Logistics (DHLT SP)

Daiwa House Logistics Trust: Company Update (30 April 2026)

Daiwa House Logistics Trust (“DHLT”) is a Singapore Real Estate Investment Trust (“REIT”) that invests in logistics and industrial real estate...

FPA Financial

Initiating Coverage: Daiwa House Logistics Trust

Daiwa House Logistics Trust (“DHLT”) is a Singapore Real Estate Investment Trust (“REIT”) that invests in logistics and industrial real estate...

FPA Financial

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

Singapore Alternative Trusts: Diverse Income, Global Exposure

Singapore’s investment trust market extends beyond traditional REITs, with key trusts in this report offering exposure to shipping, broadband TV,...

Kilde

REIT Watch – Industrial S-REITs maintain operational resilience while undertaking portfolio rejuvenation

Industrial S-REITs in Singapore show resilient performance with positive rental reversions and proactive leasing and capital management. CLAR...

Singapore Exchange Ltd (SGX)

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)