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.

Equity Bottom-Up

<ul><li>The company released a positive set of results for H1 2026, with improvements across the board.</li><li>Revenue increased by 0.8% yoy to GBP18.9mn, on new acquisitions and a higher occupancy rate (99.9% vs 95% a year ago).</li><li>Distributable income grew 3.6% yoy to GBP10.1mn and dividend per unit (DPU) rose to 1.55 pence (vs 1.54 pence a year ago), representing a distribution yield of 9.8%.</li></ul>

The company released a positive set of results for H1 2026, with improvements across the board.Revenue increased by 0.8% yoy to GBP18.9mn, on new acquisitions and a higher occupancy rate (99.9% vs 95% a year ago).Distributable income grew 3.6% yoy to GBP10.1mn and dividend per unit (DPU) rose to 1.55 pence (vs 1.54 pence a year ago), representing a distribution yield of 9.8%.

<ul><li>We maintain a modestly positive view on Elite UK REIT (SGX: MXNU),  which released their preliminary FY2025 financial results on 9 February.</li><li>Most of the key financial metrics have improved. The company achieved  higher revenue and distributable income, a lower cost of debt, a higher  occupancy rate, and a higher distribution per unit (DPU) of 3.03 pence  vs 2.87 pence in FY2024.</li><li>Particularly notable is an early renewal of lease agreements worth  GBP24.3mn with its largest tenant Department for Work and Pensions  (DWP). This has helped lift the Weighted Average Lease Expiry (WALE) of the portfolio to 7.2 years from 2.4 years previously. </li></ul>

We maintain a modestly positive view on Elite UK REIT (SGX: MXNU),  which released their preliminary FY2025 financial results on 9 February.Most of the key financial metrics have improved. The company achieved  higher revenue and distributable income, a lower cost of debt, a higher  occupancy rate, and a higher distribution per unit (DPU) of 3.03 pence  vs 2.87 pence in FY2024.Particularly notable is an early renewal of lease agreements worth  GBP24.3mn with its largest tenant Department for Work and Pensions  (DWP). This has helped lift the Weighted Average Lease Expiry (WALE) of the portfolio to 7.2 years from 2.4 years previously. 

<ul><li>This report provides an update of Elite UK REIT (SGX: MXNU), after our initiation report dated 18 March 25.</li><li>Then, we had a price target of GBP0.30. We have increased the target price now to GBP0.39 in view of the REIT’s pivot and diversification and factoring in the market’s willingness to accept a smaller traded discount on the REIT’s share to its NAV.</li><li>Since our initiation report, several positive developments have emerged.</li></ul>

This report provides an update of Elite UK REIT (SGX: MXNU), after our initiation report dated 18 March 25.Then, we had a price target of GBP0.30. We have increased the target price now to GBP0.39 in view of the REIT’s pivot and diversification and factoring in the market’s willingness to accept a smaller traded discount on the REIT’s share to its NAV.Since our initiation report, several positive developments have emerged.

Singapore

Elite UK REIT is a Singapore real estate investment trust that primarily invests in real estate and real estate-related assets in the United Kingdom. Its portfolio includes predominantly freehold commercial buildings, many leased to the UK Government, and it is expanding into the living sector. The company was founded in 2020 and is headquartered in Singapore.

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Elite UK REIT (ELITE SP)

Elite UK REIT: September 2026

The company released a positive set of results for H1 2026, with improvements across the board. Revenue increased by 0.8% yoy to GBP18.9mn, on new...

Wealth Management Alliance

Elite UK REIT: February 2026

We maintain a modestly positive view on Elite UK REIT (SGX: MXNU), which released their preliminary FY2025 financial results on 9 February. Most...

Wealth Management Alliance

Elite UK REIT: October 2025 Update

This report provides an update of Elite UK REIT (SGX: MXNU), after our initiation report dated 18 March 25. Then, we had a price target of GBP0.30....

Wealth Management Alliance

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