Europe-focused S-Reits at multi-year lows, but Reit managers say their assets can withstand shocks

THE trio of Singapore-listed real estate investment trusts (S-Reits) focused on the UK and Europe – Cromwell European Reit (CE Reit), IReit Global and Elite Commercial Reit – have suffered the brunt of a risk-off sell-off this year, shedding between 21.6 per cent and 30.8 per cent in the year to date.

In comparison, the FTSE Straits Times Reit Index is down about 14 per cent in the year to end-September; and the benchmark Straits Times Index is flat.

But some market observers say the sell-off may have been overdone. Fundamentals in the UK and Europe markets remain stable despite inflation, recession and currency risks clouding the outlook.