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Asia ex Japan REIT ETF
The Intraday NAV of the ETF (updated every 15 seconds during the market hours) as shown above (the "data") are provided by ICE Data Indices, see ICE Terms of Use, and is updated during SGX trading hours. Powered by Factset. The Intraday NAV is indicative and for reference purposes only. The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates (“ICE Data ”) and ICE Data or its respective third party suppliers MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE iNAV, IOPV, FUND OR ANY FUND DATA INCLUDED THEREIN. IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.
OVERVIEW
Unlock opportunities in Asia’s real estate growth with the world’s first Asia ex Japan REIT ETF. Real Estate Investment Trusts (REITs) historically offer investors sustainable income and long-term capital growth. Asia ex Japan REITs, in particular, present a compelling opportunity within Asia, providing one of the highest yields across the region, if not the world.
This fund is suitable for
Investors looking to gain exposure to Asia’s high-growth property sectors in a single trade.
Investors who want to invest in REITs with lower capital investment and experience greater liquidity.
Investors who don’t have time or resources to perform individual stock picking or company research.
PERFORMANCE
Fund Performance (SGD)
Source: Nikko Asset Management Asia Limited as of
31 January 2021.
Returns are calculated on a NAV-NAV basis and assuming all dividends and distributions are reinvested, if any. Returns for period in excess of 1 year are
annualised. Past performance is not indicative of future performance.
FUND DETAILS
* Distributions are not guaranteed and are at the absolute discretion of the
Manager.
^Usual brokerage and handling charges to apply. Please refer to the Fund
Prospectus for complete
information on the Fund, relevant disclosures and fees payable.
#Management Fee and Trustee Fee are included in the calculation of
Total Expense Ratio.
ABOUT THE INDEX - FTSE EPRA Nareit Asia ex Japan REITs 10% Capped Index
FTSE EPRA Nareit Asia ex Japan REITs 10% Capped Index (“the Index”) is a carve out of one of the most widely used global benchmark for listed real estate, the FTSE EPRA Nareit Global Real Estate Index Series.
The Index is a tradable index covering the constituents of developed and emerging countries in the Asia ex Japan region by market capitalisation with a selection process that includes only companies qualified as REITs by international standards and passes certain trading liquidity thresholds. It is designed to represent the performance of qualifying REITS from China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.
The Index is compiled and calculated by FTSE International Limited using international methodology standards.
The Index constituents are reviewed on a quarterly basis in March, June, September and December.
For more information on the description of the index methodology and the latest information relating to the Index, please refer to http://www.ftse.com/products/indices/epra-nareit.
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Exclusive partnership with leading REIT associations
FTSE International Limited, has partnered with European Public Real Estate Association (EPRA) and National Association of Real Estate Investment Trust (NAREIT) to design an Index to provide investors with a comprehensive assessment of listed REIT sector performance across Asia excluding Australia, New Zealand and Japan.
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Industry leader
The FTSE EPRA/NAREIT Global Real Estate Index Series is a leading global real estate index series with the longest track record, with more than 26 ETFs totalling more than USD10 billion in AUM tracking this series. (Source: FTSE, June 2017)
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Attractive dividend yield
Asia ex Japan REITs offer some of the most attractive dividend yields across the world.
Source: Bloomberg as of 9 January 2019. Past performance may not be indicative of future performance.
The Manager has established an arrangement with the Inland Revenue Authority of Singapore ("IRAS") to allow eligible NikkoAM-StraitsTrading Asia ex Japan REIT ETF (“AXJREIT ETF”) unitholders to use the back-end tax refund procedures to claim for over-deducted tax on income distributions from the AXJREIT ETF.
Background
Individuals, whether foreign or local, are exempt from tax for distributions made by REITs listed on the Singapore Exchange (“S-REITs”). As such, the portion of distributions made by the AXJREIT ETF that is derived from distributions from S-REITs to the AXJREIT ETF will be tax exempt for individuals holding units of the AXJREIT ETF. Note that individuals who derived the distributions from the carrying on of a trade, business or profession or from a partnership in Singapore are not eligible for this tax exemption and are required to declare the distributions in their income tax returns.
Similarly, qualifying foreign non-individual investors and qualifying foreign funds holding units of the AXJREIT ETF are subject to a reduced rate of tax of 10% for the portion of distributions made by the AXJREIT ETF that is derived from distributions from S-REITs to the AXJREIT ETF.
Accordingly, the Manager of the AXJREIT ETF will determine the income distribution amount to each category of unitholders taking into account the aforementioned tax exemption or reduction.
The aforementioned tax exemption or reduction will take effect from 1 July 2018 to 31 December 2025 (both dates inclusive) (for foreign non-individual investors) and 1 July 2019 to 31 December 2025 (both dates inclusive) (for foreign funds).
In the event where tax has been over-deducted for distributions made to Eligible Unitholders through the AXJREIT ETF, Eligible Unitholders may claim a back-end tax refund.
Unitholders eligible for Tax Refund
Eligible Unitholders are:
1. Foreign Non-individuals holding units in their own name or through Depository Agents; or
2. Foreign funds holding units in their own name or through Depository Agents;
3. Individuals holding units through Depository Agents; or
4. Exempt Non-Corporate Unitholder:
a) A charity registered under the Charities Act (Cap. 37) or established
by any written law;
or
b) A town council; or
c) A statutory board; or
d) A co-operative society registered under the Co-operative Societies
Act (Cap. 62); or
e) A trade union registered under the Trade Unions Act (Cap. 333); or
f) An international organisation that is exempt from tax on such
distributions by reason of
an order made under the International Organisations (Immunities and
Privileges) Act (Cap 145)
Definition of Foreign Non-individual
A foreign non-individual investor is a person (other than an individual)
who is not a resident
of Singapore* for income tax purposes and:
• who does not have a permanent establishment** in Singapore; or
• who carries on any operation in Singapore through a permanent
establishment** in Singapore, where the funds used
to acquire AXJREIT ETF units are not obtained from that operation.
Definition of Foreign Fund
A foreign fund# is one who qualifies for tax exemption under
section
13CA, 13X or 13Y of the Income Tax Act, who is not a resident of
Singapore* for income tax purposes and;
• who does not have a permanent establishment** in Singapore (other than
a fund manager in Singapore); or
• who carries on any operation in Singapore through a permanent
establishment** in Singapore (other than a fund manager in Singapore),
where the funds used to acquire the units in AXJREIT are not obtained
from that operation.
*A company is not a tax resident in Singapore if
the management and control of its business is exercised outside
Singapore during the
respective calendar year in which the distribution was made and there is
no intention to change the management and control of its business to
Singapore.
**A permanent establishment is defined under the Singapore Income Tax
Act as a fixed place where a business is wholly or partly carried on
including a place of management, a branch, an office, a factory, a
warehouse, a workshop, a farm or plantation, a mine, oil well, quarry or
other place of extraction of natural resources, a building or work site
or a construction, installation or assembly project. A unitholder shall
be deemed to have a permanent establishment in Singapore if it:
• carries on supervisory activities in connection with a building or
work site or a construction, installation or assembly project; or
• has another person acting on the unitholder's behalf in Singapore
who:
- has and habitually exercises an authority to conclude
contracts;
- maintains stock of goods or merchandise for the purpose of
delivery on its behalf; or
- habitually secures orders wholly and almost wholly for the
unitholder or for such enterprises as are controlled by the
unitholder.
#A foreign fund refers to a fund being a non-resident company, a
partnership where all partners are non-residents, a trust administered
by a non-resident trustee, or a non-resident entity.
How to make a claim
To make a claim for refund, download the following documents and submit
to Tricor
Barbinder Share Registration Services at 80 Robinson Road
#11-02, Singapore
068898:
1. Form R1(click to download)
For Foreign Non-individuals or Exempt Non-Corporate Unitholders holding units in own name. Complete and submit Form R1, together with Subsidiary Income Tax Certificate ("SITC") or the Annual Dividend Statement ("ADS") issued by the Central Depository (Pte) Ltd (“CDP”) for the distribution in respect of which the refund is claimed. Please use a separate Form R1 for each income distribution period.
2. Form R2(click to download)
For Depository Agents for the benefit of Individuals, Foreign Non-individuals and Exempt Non-Corporate Unitholders holding units through Depository Agent. Particulars of beneficiaries on whose behalf the claim is made must be furnished in the appropriate annexes 1, 2 or 3 to Form R2 and accompanied with Subsidiary Income Tax Certificate ("SITC") issued for the distribution in respect of which the refund is claimed. Please use a separate Form R2 for each income distribution period.
3. For Individuals, Foreign Non-individuals or an Exempt
Non-Corporate Unitholders holding Units through Depository
Agents,
please liaise with your respective Depository Agent on your claim for
the tax
refund. The claim will be made on your behalf by your Depository
Agent.
When to submit claim
Form R1 and/or Form R2 and accompanying SITC or ADS may be submitted any time to Tricor Barbinder Share Registration Services.
The Trustee and the Manager will collate and file a claim for refund to the IRAS on a half-yearly basis (Submission deadline is 30 June and 31 December). For example, all Forms received during the period ending 30 June 2019 will be submitted to IRAS sometime in July/August 2019.
The tax refund will be paid out to eligible investors upon receipt of the tax refund from the IRAS by the Trustee.
Time limit for claim of refund
Every claim of refund must be made to the IRAS within 4 years from the end of the year of assessment to which the claim relates. For example, for claim of refund in respect of distributions made for the period from 1 August 2018 to 31 October 2018, for which distribution payment is some time in February 2019 (which relates to the year of assessment 2020), the claim must be submitted to the IRAS on or before 31 December 2024.
WAYS TO INVEST
Trade through your stock broker
on
the Singapore Exchange (SGX) using:
- Cash
- Supplementary Retirement Scheme
(SRS)
Regular Savings Plan (RSP)
Invest in the ETF on a regular basis with:
(*transaction fees or charges may apply with the respective parties below)
Direct Subscription through Participating Dealers (for subscriptions of 50,000 units and above)
Subscribe directly to the ETF through any of our participating dealers, subject to minimum unit requirements stated below.
Cash Subscription of New Units
For subscription of new units in the ETF using the cash option, investors need to go through an authorised participating dealer and a minimum of 50,000 units is required.
In-kind Subscription of New Units
For subscription of new units in the ETF using the in-kind option, investors need to go through an authorised participating dealer and a minimum of 500,000 units or multiples of 500,000 is required.
List of Participating Dealers