Dear readers, Frasers Centrepoint Trust is the newest addition to the Straits Times Index (STI), having just joined the STI constituent stocks on 18 March 2024 (Monday). If you could recall, the Trust replaced Emperador stock in a quarterly review of the STI.
Let us take a look at the performance of Frasers Centrepoint Trust after joining the STI. As of 15 March 2024 (one trading day before the trust’s entry into STI), Frasers Centrepoint Trust closed at $2.18 per share. Frasers Centrepoint Trust closed at $2.16 today. We can see that the trust is about 0.9% lower, two weeks of its entry into the STI.
On a broader level, the STI closed around 3,172 on 18 March 2024 and around 3,223 today (up by around 1.6%); thus we can see that Frasers Centrepoint Trust has underperformed the STI thus far in its entry into the STI.
Personally, while some may be enamoured of the somewhat defensive nature of the staple of retail malls in Frasers Centrepoint Trust, I don’t really find that this is a given especially since I have been noticing quite a changeover of tenants in the malls in the trust.