SINGAPORE: Fortune REIT, Mapletree Commercial Trust and Frasers Commercial Trust are among the best-value real estate investment trusts in Singapore, according to UOB Kay Hian Pvt.
UOB ranked the city-state’s REITs by comparing management fees to assets under management and dividend and net asset growth. Fortune REIT topped the rankings with a ratio of 0.03, followed by Mapletree Commercial at 0.05. “Setting the bar too high in aligning unitholders’ and REIT manager’s interests, in terms of performance fees, may not always yield the intended results,” UOB analysts Vikrant Pandey and Derek Chang said in a note to clients yesterday.
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