S-REITS rally with net inflows as Fed rate cut bets rise

However, the three STI constituent banks saw an average decline of 3.4%.

Singapore Real Estate Investment Trusts (S-REITs) extended their tentative rebound for the second consecutive week ending 14 March, as global markets priced in an additional 75-basis-point cut to the U.S. Federal Reserve's benchmark interest rate in 2025, SGX reported.

Over the past five sessions, the seven REITs included in the Straits Times Index (STI) recorded an average gain of 5.2%, supported by net institutional inflows of $50m, equivalent to 0.1% of their combined market capitalisation.

Notably, CapitaLand Integrated Commercial Trust (CICT) and Frasers Centrepoint Trust (FCT) attracted the bulk of these inflows. CICT registered net institutional inflows amounting to 0.3% of its market capitalisation, while FCT recorded 0.4%.

Meanwhile, the three STI constituent banks saw an average decline of 3.4% over the same five sessions through 17 March, with $490m in net institutional outflows—representing 0.2% of their combined market capitalisation.

In addition, since 19 February, the broader S-REIT sector, comprising 39 REITs and property trusts, has posted an average total return decline of 1.2%. However, larger-cap S-REITs have generally outperformed their smaller-cap peers over this period.

From 19 February to 17 March, the 10 largest S-REITs by market capitalisation delivered an average total return of 4.8%. More recently, they posted a 4.6% average total return over the five sessions through 17 March, underpinned by $58m in net institutional inflows.

Meanwhile, smaller S-REITs collectively recorded a 3.3% average decline since 19 February. Over the past five sessions, they eked out an average gain of 1.1%, supported by a smaller net institutional inflow of $2.7m.

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