SPH: Better investment than retail S-REITs?

SPH is still my largest investment in a Singapore blue chip and it is an important part of my high yield portfolio. CIMB now suggests that investing in SPH is better than investing in retail S-REITs. It would be a happy coincidence for me if CIMB should be right as my only exposure to retail S-REITs is a small long position in Suntec REIT, much smaller than my investment in SPH.



Singapore

AIMS AMP Capital Industrial REIT and Sabana REIT: Performance fees.

This issue of The EDGE has a very interesting article by Goola Warden on S-REITs. In a nutshell, it looks at potential conflicts of interest between their external managers and unitholders. To this end, it looks at the layers of fees charged by the managers.

As investors, we want to make sure that the REIT managers are fairly rewarded since no one would work for free. However, we have to

Suntec REIT: Q1 2012 DPU 2.453c.

I still retain a small position in Suntec REIT at a cost price of about S$1.00 a unit which I purchased towards the tail end of the last financial crisis. This small position is free of cost, actually, since the gain from selling most of my investment in the REIT more than covers its cost. For me, this is what some would call a pillow stock. Sleep on it and get free money.

Gearing: 37.4%