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.

Equity Bottom-Up

<ul><li>Two sets of numbers describe this trust.</li><li>What the buildings earn improved in 1HFY2026: Gross revenue rose 5.8%, net property income 6.4%, and committed occupancy held at 97.6%.</li><li>What reaches a unit after the lenders, the manager and the buildings themselves are paid got worse: The distribution per unit rose 3.4% against the same six months last year but fell 6.1% against the six months before it, net asset value per unit fell, and cash cover halved.</li></ul>

Two sets of numbers describe this trust.What the buildings earn improved in 1HFY2026: Gross revenue rose 5.8%, net property income 6.4%, and committed occupancy held at 97.6%.What reaches a unit after the lenders, the manager and the buildings themselves are paid got worse: The distribution per unit rose 3.4% against the same six months last year but fell 6.1% against the six months before it, net asset value per unit fell, and cash cover halved.

United Hampshire US REIT 1HFY2026 Results Update

<ul><li>United Hampshire (UHREIT) owns a useful portfolio, but the units are not yet a fully proven income case.</li><li>The assets are largely U.S. grocery and daily-needs retail, with a smaller self storage exposure.</li><li>FY2025 portfolio value was US$774.3m across 20 Grocery &amp; Necessity properties and two Self-Storage properties, with 3.6m sq ft of net lettable area.</li></ul>

United Hampshire (UHREIT) owns a useful portfolio, but the units are not yet a fully proven income case.The assets are largely U.S. grocery and daily-needs retail, with a smaller self storage exposure.FY2025 portfolio value was US$774.3m across 20 Grocery &amp; Necessity properties and two Self-Storage properties, with 3.6m sq ft of net lettable area.

United Hampshire US Real Estate Investment Trust Initiating Coverage

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>The month of May saw the iEdge S-Reit Index decline 3.0 per cent in total return on the back of persistent inflation and growing expectations of a June rate hike, reversing its 0.6 per cent gains in April.</li><li>By sub-segments, retail S-Reits, which averaged total returns of 0.9 per cent in May, is the only S-Reits sub-segment which averaged positive total returns.</li><li>On the other hand, office S-Reits underperformed for the month, averaging 9.9 per cent declines in total returns.</li></ul>

The month of May saw the iEdge S-Reit Index decline 3.0 per cent in total return on the back of persistent inflation and growing expectations of a June rate hike, reversing its 0.6 per cent gains in April.By sub-segments, retail S-Reits, which averaged total returns of 0.9 per cent in May, is the only S-Reits sub-segment which averaged positive total returns.On the other hand, office S-Reits underperformed for the month, averaging 9.9 per cent declines in total returns.

REIT Watch – Retail S-REITs among top performers in May

<ul><li>Share buybacks by primary listed companies 12 - 18 May 2023 DBS, Genting Singapore, UOB, CapitaLand Investment and Thai Beverage led the net institutional outflow for the five sessions.</li><li>At S$0.044 per share, the acquisition took Lee’s total interest in Marco Polo Marine from 4.56 per cent to 4.57 per cent.</li><li>His preceding acquisition was back on Jan 12, with 5 million shares acquired at S$0.04 per share.</li></ul>

Share buybacks by primary listed companies 12 - 18 May 2023 DBS, Genting Singapore, UOB, CapitaLand Investment and Thai Beverage led the net institutional outflow for the five sessions.At S$0.044 per share, the acquisition took Lee’s total interest in Marco Polo Marine from 4.56 per cent to 4.57 per cent.His preceding acquisition was back on Jan 12, with 5 million shares acquired at S$0.04 per share.

Aztech Global executive chair adds to stake

<ul><li>Inside Insights - Wee Ee Cheong boosts UOB stake For the 5 trading sessions that spanned Aug 19 to Aug 25, the Straits Times Index (STI) declined 0.8 per cent, with the FTSE China A50 Index declining 0.9 per cent, the Hang Seng Index gaining 1.3 per cent and the FTSE Bursa Malaysia KLCI declining 1.1 per cent.</li><li>Between Aug 16 and 22, United Overseas Bank (UOB) deputy chairman and CEO Wee Ee Cheong acquired 100,000 shares at an average price of S$26.86 per share.</li></ul>

Inside Insights - Wee Ee Cheong boosts UOB stake For the 5 trading sessions that spanned Aug 19 to Aug 25, the Straits Times Index (STI) declined 0.8 per cent, with the FTSE China A50 Index declining 0.9 per cent, the Hang Seng Index gaining 1.3 per cent and the FTSE Bursa Malaysia KLCI declining 1.1 per cent.Between Aug 16 and 22, United Overseas Bank (UOB) deputy chairman and CEO Wee Ee Cheong acquired 100,000 shares at an average price of S$26.86 per share.

Singapore

United Hampshire US Real Estate Investment Trust invests in a diversified portfolio of stabilized income-producing grocery-anchored and necessity-based retail properties, and modern, climate-controlled self-storage facilities, located in the United States of America. It aims to provide unitholders with regular and stable distributions and achieve long-term growth. The company is headquartered in Singapore and was constituted in 2019.

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United Hampshire US (UHU SP)

United Hampshire US REIT 1HFY2026 Results Update

Two sets of numbers describe this trust. What the buildings earn improved in 1HFY2026: Gross revenue rose 5.8%, net property income 6.4%, and...

ICAM

United Hampshire US Real Estate Investment Trust Initiating Coverage

United Hampshire (UHREIT) owns a useful portfolio, but the units are not yet a fully proven income case. The assets are largely U.S. grocery and...

ICAM

REIT Watch – Retail S-REITs among top performers in May

The month of May saw the iEdge S-Reit Index decline 3.0 per cent in total return on the back of persistent inflation and growing expectations of a...

Singapore Exchange Ltd (SGX)

Aztech Global executive chair adds to stake

Share buybacks by primary listed companies 12 - 18 May 2023 DBS, Genting Singapore, UOB, CapitaLand Investment and Thai Beverage led the net...

Singapore Exchange Ltd (SGX)

Wee Ee Cheong boosts UOB stake

Inside Insights - Wee Ee Cheong boosts UOB stake For the 5 trading sessions that spanned Aug 19 to Aug 25, the Straits Times Index (STI) declined...

Singapore Exchange Ltd (SGX)

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