Institutions net buying CapitaLand, AEM and A-Reit since June 30

THE three Singapore-listed stocks receiving the highest net institutional inflows during the early part of Q3 2021 to Aug 12 were CapitaLand C31 , AEM Holdings AWX (AEM) and Ascendas Reit A17U : A17U 0% (A-Reit).

CapitaLand received S$123 million of net institutional inflow over the six weeks, bringing the year-to- date (YTD) net institutional inflow to S$76 million. It attributed the 25 per cent price gain in the 2021 year through to Aug 12 to its significant restructure. The restructuring plan is aimed at sharpening its strategic focus that will create CapitaLand Investment (CLI), which is poised to be a leading listed global real estate investment manager.

CLI is poised to have a strong Asia foothold that comprises fund management, lodging management, stakes in listed funds, stakes in unlisted funds and investment properties.

With investment resilience, a mega-theme of the global financial and its adjacent sectors in H1 2021, leading international real estate investment managers, Brookfield Asset Management Inc and Blackstone averaged 60 per cent price returns in the 2021 year to Aug 12.

The expected date for the delisting of CapitaLand and listing of CLI shares is on or around Sept 17.

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• CapitaLand H1 profit up at S$922.2m from S$96.6m on portfolio gains, market recovery

• CapitaLand shareholders vote in favour of restructuring plan

• CapitaLand's restructuring plan is 'fair and reasonable': IFA

• AEM to raise S$103.1m from proposed private placement to Temasek

• AEM is latest tech play to miss analysts' earnings expectations

• AEM Q1 net profit falls 63.1% to S$13.34 million after record year-ago period

• Brokers' take: RHB upgrades Ascendas Reit to 'buy' on upbeat outlook

• Ascendas Reit H1 DPU rises 5.4% to S$0.0766; manager eyes redevelopment of TÜV SÜD PSB building

AEM received S$58 million of institutional inflow over the six weeks, paring the year-to-date net institutional outflow to S$56 million.

It has generated a 20 per cent total return in the 2021 year to Aug 12.

On Aug 5, it reported S$192 million H1FY21 (ended June 30) revenue, its second highest H1FY after its record-breaking H1FY20.

AEM kept its FY21 revenue guidance at S$460 million to S$520 million. This follows FY20 revenue of S$519 million, FY19 revenue of S$323 million and FY18 revenue of S$262 million.

AEM also announced that it is raising S$103.1 million in a private placement to Temasek, representing 9.5 per cent of the total number of issued shares.

It says this is to bolster its growth opportunities by investing in next-generation testing capabilities, deepening research & development to accelerate product portfolio expansion, and funding its mergers and acquisitions plans.

In answer to a question at its FY21 AGM, AEM noted that Covid-19 has accelerated global digitalisation by six to eight years, driving significant investment into digital infrastructure for Cloud, 5G, AI, and autonomous vehicles, powered by next-generation semiconductor devices.

A-Reit received S$48 million of institutional inflow over the six weeks, reducing the YTD net institutional outflow to S$208 million. A-Reit has generated an 8 per cent total return in the 2021 YTD.

On Aug 2, A-Reit reported that gross revenue for H1FY21 (ended June 30) increased 12.4 per cent year on year to S$586.0 million, mainly attributed to revenue contribution from recent acquisitions.

These include two office properties in San Francisco, acquired in November 2020 and 11 data centres across Europe, acquired in March 2021, as well as two suburban offices in Australia, acquired in January 2021 and September 2020.

In the 2021 year to Aug 12, global industrial Reits have averaged 20 per cent total returns.

Stocks that ranked after CapitaLand, AEM and A-Reit for highest net institutional inflow during the early part of Q3 2021 to Aug 12 included Mapletree Industrial Trust ME8U , Raffles Medical Group BSL , Singapore Press Holdings T39 , UMS Holdings 558 , Frasers Logistics & Commercial Trust BUOU and Yangzijiang Shipbuilding Holdings BS6 : BS6 0% .