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.

Equity Bottom-Up

SGX is one of Asia’s regional hub for Real Estate Investment Trusts (REITs) &amp; Property Trusts. Based on the FTSE ST REIT Index, the dividend yield for Singapore REITs have been 4.2 – 6.8% over a period of 5 years (Source: Bloomberg, 2014-2018). Over 80% of Singapore REITs &amp; Property Trusts own offshore assets across Asia Pacific, US &amp; Europe.&nbsp;
As of end Sep 2019, SGX lists 44 REITs &amp; Property Trusts with a combined market capitalisation of over S$100 billion, representing c.12% of Singapore’s overall market
SGX’s REITs &amp; Property Trusts offer wide diversity across property sub-segments REIT Indices:
<ul>
<li>FTSE ST REIT Index: 37 out of the 44 trusts represented</li>
<li>iEdge S-REIT Index: 36 out of the 44 trusts represented</li>
</ul>
<h2>Key Statistics At a Glance</h2>
<ul>
<li>Average dividend yield of 6.2%</li>
<li>Average 3-year annualised total return of 10.8%</li>
<li>Average gearing ratio of 34.5%</li>
<li>10 year market cap CAGR of 22%</li>
</ul>

SGX is one of Asia’s regional hub for Real Estate Investment Trusts (REITs) &amp; Property Trusts. Based on the FTSE ST REIT Index, the dividend yield for Singapore REITs have been 4.2 – 6.8% over a period of 5 years (Source: Bloomberg, 2014-2018). Over 80% of Singapore REITs &amp; Property Trusts own offshore assets across Asia Pacific, US &amp; Europe.&nbsp;
As of end Sep 2019, SGX lists 44 REITs &amp; Property Trusts with a combined market capitalisation of over S$100 billion, representing c.12% of Singapore’s overall market
SGX’s REITs &amp; Property Trusts offer wide diversity across property sub-segments REIT Indices:

FTSE ST REIT Index: 37 out of the 44 trusts represented
iEdge S-REIT Index: 36 out of the 44 trusts represented

Key Statistics At a Glance

Average dividend yield of 6.2%
Average 3-year annualised total return of 10.8%
Average gearing ratio of 34.5%
10 year market cap CAGR of 22%


Chartbook: SREITs & Property Trusts -  October 2019

In her earliest memories, bedtime stories for Jillian Smith were less about whimsical fables or enchanting tales, and more to do with equity markets, share prices, and the salmon-pink pages of the Financial Times.
"When I was eight, my usual bedtime reading with my father involved poring over pages of the FT and checking stock prices," recalled Smith, the Chief Executive Officer of Manulife US Real Estate Management Pte Ltd, which is the manager of Manulife US REIT.
Manulife US Real Estate Investment Trust, which made its trading debut on SGX about six months ago, is the first pure-play US office REIT to list in Singapore and Asia.
Smith's initiation into the world of investing took place against the backdrop of her grandfather's riches-to-rags saga in the 1930s, which became a cautionary tale for the family.

In her earliest memories, bedtime stories for Jillian Smith were less about whimsical fables or enchanting tales, and more to do with equity markets, share prices, and the salmon-pink pages of the Financial Times.
"When I was eight, my usual bedtime reading with my father involved poring over pages of the FT and checking stock prices," recalled Smith, the Chief Executive Officer of Manulife US Real Estate Management Pte Ltd, which is the manager of Manulife US REIT.
Manulife US Real Estate Investment Trust, which made its trading debut on SGX about six months ago, is the first pure-play US office REIT to list in Singapore and Asia.
Smith's initiation into the world of investing took place against the backdrop of her grandfather's riches-to-rags saga in the 1930s, which became a cautionary tale for the family.

Manulife US REIT: A Play on Vibrant Office Demand

Singapore

Manulife US REIT is a Singapore-listed real estate investment trust that primarily invests in income-producing office properties and real estate-related assets in the United States and Canada. As of March 31, 2026, its portfolio includes seven freehold office properties across Arizona, California, Georgia, New Jersey, Virginia, and Washington, D.C., with a total net lettable area of 3.5 million sq ft. The company was incorporated in Singapore in 2015.

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Manulife US REIT (MUST SP)

Chartbook: SREITs & Property Trusts - October 2019

SGX is one of Asia’s regional hub for Real Estate Investment Trusts (REITs) & Property Trusts. Based on the FTSE ST REIT Index, the dividend...

Singapore Exchange Ltd (SGX)

Manulife US REIT: A Play on Vibrant Office Demand

In her earliest memories, bedtime stories for Jillian Smith were less about whimsical fables or enchanting tales, and more to do with equity...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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