S-REITs in STI end 1Q23 with 10% gains, outperforming the Index
S-REITs in STI end 1Q23 with 10% gains, outperforming the Index**
In March, the iEdge S-REIT Index declined 0.7% in total returns, shaving its year-to-date total (YTD) returns to 4.3% but still outperforming the STI’s 0.8% YTD total returns. Globally, the FTSE EPRA Nareit Developed Index saw steeper declines of 4.3% in total returns last month and ended the first quarter of the year flat.
The seven largest weighted constituents of the iEdge S-REIT Index, which are also constituents of the STI Index, averaged 2.7% total returns last month. All seven S-REITs outperformed both the iEdge S-REIT Index and the broader STI Index. This added to their average YTD total returns of 9.4%.