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Post by Fletchsmile on May 19, 2017 11:02:20 GMT 7
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Post by Fletchsmile on Jun 24, 2017 13:28:25 GMT 7
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Post by Fletchsmile on Jul 19, 2017 15:27:09 GMT 7
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Post by Fletchsmile on Sept 27, 2017 11:38:49 GMT 7
Singapore to witness launch of locally dedicated Lion-Phillip S-REIT ETF
BY RIDZWAN RAHMAT ON SEPTEMBER 26, 2017 INDUSTRY UPDATES, SINGAPORE REITS Asset management company Lion Global Investors Limited has teamed up with Phillip Capital to launch an SGD-denominated exchange traded fund (ETF) that will track the performance of the Singapore REIT market. Known as the Lion-Phillip S-REIT ETF, the fund will be the third REIT-linked ETF to list on the Singapore Exchange (SGX). The two other Singapore-listed REIT ETFs listed earlier in March 2017 and October 2016 are namely the Nikko AM – Straits Trading Asia ex Japan REIT ETF, and the Phillip SGX APAC Dividend Leaders REIT ETF respectively. Read: Singapore REIT ETFs: Nikko AM-Straits Trading and Phillip-SGX APAC REIT ETFs compared According to a prospectus filed with the Monetary Authority of Singapore, the Lion-Phillip S-REIT ETF will track the Morningstar Singapore REIT Yield Focus Index. The index is compiled and calculated by Morningstar and was first established in June 2010. As such, the Lion-Phillip S-REIT ETF will be the only ETF to track the Singapore REIT market exclusively, unlike the the two other funds which contain a mix of Malaysian, Hong Kong and Australian REITs. The issue price of each unit in the Lion-Phillip S-REIT ETF during the initial offer period is SGD1.00, and investors may only apply for a minimum of 50,000 units, in multiple increments of 1,000 units.tc www.reitsweek.com/2017/09/singapore-to-witness-launch-of-locally-dedicated-lion-phillip-s-reit-etf.html
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Post by Fletchsmile on Oct 31, 2017 21:54:27 GMT 7
Singapore REITs have had a very good run this year, with many in double digit % gains and that excludes the generous tax free dividends. This has brought the (historic) dividend yields down though. My portfolio now yields around 6.4% on average, with some of the lowest ones having dropped to 5% or so. One is even at 4.8%.
I just had one of my higher yielding ones bought out recently. Croesus Retail Trust (CRT). Even after strong gains this year, the div was around 7% tax free which was nice. I only held it since Feb of this year, and the original yield when I bought was about 8.6%. It was bought out at 36% above my average cost, which was a nice gain for 8 months holding (excluding divs). The problem is though, where to park the proceeds.
It's getting much harder to find attractive pricing and yields
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Post by Fletchsmile on Nov 19, 2017 20:48:45 GMT 7
The Lion Phillips SREIT ETF has now launched.It's the 3rd REIT ETF launched in Singapore and the only one that invests purely in Singapore REITs. It will invest in 23 of the 38 Singapore REITS on the Singapore stock exchange The annual management fee at 0.5% is not unreasonable for a specialised ETF like this. It's total expense ratio (TER) is expected to be around 0.6% It could suit people looking for a portfolio of REITs that doesn't want to buy the individual REITs. People who like the TMB Property Income Fund (mutual fund available in Thailand), might like this as an offshore investment in a similar area. Unlike TMBPIF though it is Singapore only, whereas TMBPIF combines Singapore REITS and Thailand property The expected dividend is around 5.75% or 4.8% after tax of 17%. I probably won't be investing myself though though as: 1) I'm quite happy investing in the individual underlying REITs myself and do so already 2) Investing direct myself means I save on the annual management charges. Although 0.6% p.a. TER is not unreasonable in return for someone who doesn't want to invest themselves in individual REITS 3) The dividends are taxable at 17%. This is in contrast to the individual REITS which pay tax free dividends if you buy. This could represent a further approx cost of around 1% Still worth a look though The article at the link below written before launch gives a reasonable overview. ============================================================================= 5 things to know about the Lion-Phillip S-REIT ETF before you investLion Global Investors and Phillip Capital are due to launch the Lion-Phillip S-REIT ETF on the SGX on 30 October 2017. (The Initial Offer Period is open now until 17 Oct for investors who are interested in subscribing early.) The ETF is the very first exchange-traded fund in the world that invests purely in Singapore REITs. S-REITs have been (and still are) a popular investment vehicle for investors seeking relatively high and stable dividend yield. The expected yield for S-REITs in 2017 is around 6%, and that’s just for dividends alone; the average year-to-date price performance for S-REITs is 14%. There are currently 38 REITs in Singapore and, suffice to say, it’s easy to see why they are so well-liked by investors. Someone who doesn’t like to bother with stock picking can simply invest in a basket of all 38 S-REITs and be sitting on a total return of 21% so far this year! Realistically speaking, though, it’s unlikely that a retail investor would undertake the exercise to invest in all 38 S-REITs. It’s a cumbersome task for the individual and the trading commissions alone would cause a small dent in your pocket. Which is where the Lion-Phillip S-REIT ETF comes in… Before this, there was no easy way to invest in a basket of S-REITs at one go. The closest alternatives were the Nikko AM Asia Ex Japan REIT ETF and the SGX APAC Dividend Leaders REIT ETF. But both funds only have around 60% and 30% of their holdings in S-REITs respectively – not ideal for the investor who wants to invest in only S-REITs. But now you can, with the Lion-Phillip S-REIT ETF. But should you? Here are five things you need to know about the Lion-Phillip S-REIT ETF before you invest. more... fifthperson.com/lion-phillip-s-reit-etf/
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AyG
Crazy Mango Extraordinaire
Posts: 5,871
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Post by AyG on Nov 20, 2017 6:43:24 GMT 7
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Post by Fletchsmile on Nov 20, 2017 11:01:31 GMT 7
Yes you're right. The link below is to the Singapore IRAS tax guide to REITS. I've read it a couple of times in the past, and the tax treatment for REITs can get a bit complicated based on 1) the type of unit holder 2) the type of income from which the distribution is made. The good news is that for individuals investing as individuals as opposed to partnerships, businesses, carrying on a trade etc they are largely tax exempt if investing directly in the REITs. So you can ignore a lot of the rest of the guide after that. The "type of income" issue will be addressed by the REIT on your behalf. BTW That's on reason why when I received dividends for an individual REIT it can often come in about 3 payments at the same time depending on the source of income. www.iras.gov.sg/irashome/uploadedFiles/IRASHome/e-Tax_Guides/etaxguide_Income%20Tax%20Treatment%20of%20Real%20Estate%20Investment%20Trusts%20and%20Approved%20Sub-Trusts.pdfHere, as you say, the ETF is not an individual though, and this is probably where the tax complications kick in, and the reason behind the effective 17% on dividends. As an aside I'm not entirely sure exactly how TMB's Property Income Plus Fund (mutual fund/unit trust in Thailand) fares for tax on its Singapore REITS. I don't think it ends up being as efficient as an individual buying individual REITs and for similar reasons. TMPIPF also invests in Thai property and Thai REITs (as well as Singapore REITs) which will have different taxation than Singapore rules too. My assumption has always been though, that TMBPIPF does suffer more tax than an individual with a portfolio of Singapore REITS only. For our holdings in these though, what interests me has also been the net dividends we receive in our pockets plus the potential of capital growth, and being mindful of the mutual fund fees / TER without worrying too much the exact nature of all the fees, i.e happy with what we end up with, without worrying too much the exact nature of all the ins and outs
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Post by Fletchsmile on Aug 28, 2018 17:43:12 GMT 7
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GavinK
Crazy Mango
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Post by GavinK on Nov 20, 2018 9:20:18 GMT 7
"Update: Dividends from S-REITs to ETFs will no longer be subjected to a 17% withholding tax for both local and foreign individuals from 1 July 2018." SREITS:SPSingapore Lion-Phillip S-REIT ETF YTD Return-6.40% ::: Buy or Bye ?
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Post by Fletchsmile on Jul 18, 2019 17:23:31 GMT 7
This site also has a summary of basic fundamental for SG REITs. Seems to be reasonably accurate compared to my own notes:
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