Henderson holding Reits, avoiding banks (Amended)

Singapore

THE growth outlook for both dividends and earnings in the overall Singapore stock market is dim but some Singapore real estate investment trusts (Reits) are still good sources of income, asset managers at Henderson Global Investors told a press briefing at its office on Wednesday afternoon.

They added that they have recently largely avoided investing in Asian banks in general, citing relatively low demand for loans in the region along with the danger of non-performing loans.

Sat Duhra, co-fund manager of Henderson's Asia dividend income fund, said dividend growth in the overall Singapore market "doesn't look very enticing" given economic factors such as doldrums in the manufacturing sector and a l…