AcquisitionAcrophyte Asset Management has acquired the Manager of Suntec REIT, lifting longstanding overhang and providing greater clarity and confidence for investors.
Growth AlignmentThe clear alignment of interests between Mr Tang and the Manager reinforces the view that Suntec REIT is entering its next chapter of growth.
Portfolio StrengthA stronger Singapore portfolio, lower debt costs and reversal of withholding tax provision for its Australia portfolio were the reasons for outperformance.