【Money Market Fund】 US$ MMF Net 7-day Yield: +3.72%^ As of 2026/01/02, OIS markets priced in ~2 more rate cuts by end of 2026. Meanwhile, JPM expects one last Fed rate cut in January before going on hold, but stresses it is a close call. Nevertheless, in the near-term, we expect CSOPUMM to continue to deliver stable yield. ^ 7-day net yield is calculated based on calendar days and NAVs in 5-decimal. Source: CSOP, Bloomberg, JPM, and HSBC, as of 2026/01/02, except where otherwise stated. 【REITs】 S$ SRT WTD total return: +1.28% Beyond equities, Singapore REITs (S-REITs) also delivered solid returns, supported by favourable interest rate trends. As of 2 Jan 2026 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ rose 1.28% WTD in SGD. For the full year 2025,

【SRT】 As of 28 Nov 2025 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ was slightly up at 1.93% WTD in SGD, and rose 14.56% YTD in SGD. SRT’s WTD gains was primarily attributable to industrial, retail and office by subsector and FLT, MLT and MINT by individual REIT. FLT rose after its target price was raised by UOB Kay Hian, with a buy rating maintained. UOB Kay Hian expects rising occupancies to support higher DPU. In other positive news for the sector, Fitch analysts say that S-REITs are likely to speed up asset acquisitions, divestments and enhancements as borrowing costs moderate. REITs’ cap rates can potentially compress amid increasing demand, thereby lifting valuations. S$ SRT 2025 YTD Total Return: +14.56% 【MMF】 Following mixed policy signals

East Asia  LCU WTD return: +0.89% ·         $CSOP LOW CARBON US$(LCU.SI)$ gained 0.89% in USD WTD, and 23.80% in USD YTD. ·         WTD gains are primarily attributable to IT, consumer discretionary and financials by subsector, and China, Taiwan and South Korea by region, as well as Alibaba, TSMC and Samsung Electronics by individual firm. ·         $BABA-W(09988)$ rose after its Gwen app attracted over 10 million downloads in the week after its relaunch, as well as after its quarterly revenue beat expectations. ·         TSMC rose on a med

【SRT】 As of 21 Nov 2025 (Fri), SRT was slightly down at -0.77% WTD in SGD, and rose 12.39% YTD in SGD. Despite the decline, on a more positive note, Macquarie has highlighted that MAS’s rollout of the next round of equity market reforms, including a second tranche of EQDP funds that are likely allocated within 1-2 quarters. Other initiatives include enhancing the market making ecosystem, upgrading post-trade custody model, and lowering minimum board lot sizes. These will reduce costs and improve investor access and trading activity. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +12.39% 【MMF】 As previously shared, labour market data is in focus. Last week, September nonfarm payrolls data release showed that it rose more than expected.

【SRT】 As of 14 Nov 2025 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ was slightly down at -0.76% WTD in SGD, and rose 13.26% YTD in SGD. On a brighter note, Morgan Stanley shared that the latest 3Q25 reporting season generally saw resilient rental reversions, particularly for warehouse and data centres. Coupled with interest rate tailwinds, this is expected to result in positive dividend growth in future. S$ SRT 2025 YTD Total Return: +13.26% 【MMF】 After record 43 days of US government shutdown, Trump signed Congress-passed funding bill into law on 12 Nov 2025 to reopen the government. This will see the resumption of economic data releases by the government including CPI, nonfarm payroll and unemployment data. Labor market data will be in focus to g

【SRT】 As of 7 Nov 2025 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ was slightly down at -0.88% WTD in SGD, and rose 14.13% YTD in SGD. SRT’s decline was against a backdrop of a broader risk-off sentiment as markets were largely concerned with overstretched valuations, particularly in AI and tech. Despite that, on a brighter note, according to The Smart Investor, Singapore office REITs offer opportunities in 2025 as lower interest rates ease refinancing costs and lift distributable income. CBRE expects ongoing demand for premium green offices in Asia-Pacific, while Cushman & Wakefield notes a strong flight-to-quality, with Singapore CBD Grade A occupancy at 94.8%. S$ SRT 2025 YTD Total Return: +14.13% 【MMF】 During the week, data releases saw som

East Asia  LCU WTD return: +2.04% ·         $CSOP LOW CARBON US$(LCU.SI)$ gained 2.04% in USD WTD and 30.93% in USD YTD. ·         WTD performance was led by IT, communication services, and financials by sector, Japan, Taiwan and South Korea by country and TSMC, Advantest Corp and Softbank Group by individual firm. ·         Advantest Corp shares rose after raising its profit forecast and announcing a share buyback, citing expected increased demand from chipmakers and higher sales of high-bandwidth DRAM testers. SQU WTD return: +1.61% ·        

【SRT】 As of 24 Oct 2024 (Fri), SRT was up 2.04% WTD in SGD, and rose 15.86% YTD in SGD. WTD gains were attributable to industrial, office and data centre by subsector and MLT, KDCREIT, and KREIT by individual REIT. Morgan Stanley (MS) expects Singapore REITs' 3Q25 updates to focus on operational highlights over granular financials. While MS does not anticipate much DPU surprises, some REITs have the ability to supplement DPU with divestment gains. MS expects resilient rent reversions in Singapore which contrasts with overseas softness. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +15.86% 【MMF】 On 24 Oct 2024 (Fri), September's core CPI rose 0.23% MoM, below forecasts, and JPM estimates core PCE at +0.20% MoM, supporting the case for

East Asia  LCU WTD return: +2.56% ·         $CSOP LOW CARBON US$(LCU.SI)$ gained 2.56% in USD WTD and 28.24% in USD YTD. ·         WTD performance was led by IT, consumer discretionary and financials by subsector, Japan, China, and Taiwan by region, and Alibaba, TSMC, and Tencent by individual firm. ·         Chinese tech firms are benefitting from Beijing’s push for self-reliance in the critical sector and overseas expansion, with Goldman Sachs naming $Alibaba(BABA)$ a top pick amongst Chinese firms expanding overseas. ·         TSMC report

East Asia  LCU YTD return: +23.36% ·         Despite declining -2.08% in USD WTD, $CSOP LOW CARBON US$(LCU.SI)$ gained 23.36% in USD YTD. ·         WTD performance was weighed by US-China trade jitters and Japanese political turmoil. SQU YTD return: +7.17% ·         Despite declining -2.02% in USD WTD, $CSOP SEA TECH ETF US$(SQU.SI)$ gained 7.17% in USD YTD. ·         WTD decline was led by EMTK, Inari Amertron and Venture Corp.  Despite Inari Amertron’s decline WTD, its target price was raised by TA Securities as its primary American

【SRT】 As of 10 Oct 2025 (Fri), SRT fell -0.76% WTD in SGD, and rose 13.55% YTD in SGD. Although SRT experienced WTD losses, it remains strong YTD and is expected to benefit from tailwinds such as declining rates, solid operating metrics, a robust SGD, and supportive policies like EQDP funds being eligible to invest in Singapore REITs (S-REITs) and the new iEdge Singapore Next 50 indices. RHB maintains its overweight rating on S-REITs, while CGSI forecasts strong Q3 DPU for the sector. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +13.55% 【MMF】 US government shutdown continues, resulting in vacuum of economic data releases which is anticipated to continue ahead. As such, front-end rates become increasingly sensitive to coherent messagi

【SRT】 As of 3 Oct 2025 (Fri), SRT gained 2.73% WTD in SGD, and rose 14.41% YTD in SGD. YTD gains were led by industrial, retail and office by subsector and CICT, MPACT and MLT by individual REITs. CICT rose as it surpassed Hong Kong’s Link Reit as Asia’s largest REIT, driven by a S$600M August private placement to acquire the remaining 55% stake in CapitaSpring, amid peak rate optimism. Meanwhile, MPACT rose after CGSI increased its price target and kept its add rating on tailwinds of falling interest rate as most of the REIT’s debt is denominated in SGD. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +14.41% 【MMF】 Despite a US government shutdown which began 1 Oct 2025, the Treasury Department can still pay coupons and auction debts w

【SRT】 As of 26 Sep 2025 (Fri), while $CSOP iEdge SREIT ETF S$(SRT.SI)$ declined slightly by -0.39% WTD in SGD, it rose 11.38% YTD in SGD. Aside from tailwinds arising from expectations of further Fed rate cuts, the launch of the new iEdge Singapore Next 50 Indices, tracking SGX’s largest non-blue-chip stocks, may boost investor focus on mid-caps like some of the REITs in the CSOP SRT ETF (e.g. CLAS, KREIT, Suntec REIT) S$ SRT 2025 YTD Total Return: +11.38% 【MMF】 Over the week, US treasuries largely traded rangebound as markets digest Fed’s September FOMC meeting. The week also saw robust economic data release (Q2 GDP revised upwards to 3.8%), resilient labour metrics (decline in initial claims to 218k), and PCE inflation measure aligning with ex

East Asia  LCU YTD return: +25.33% ·         $CSOP LOW CARBON US$(LCU.SI)$ gained 0.76% in USD WTD and 25.33% in USD YTD. ·         WTD gains were led by IT, materials and industrials by subsector, and Taiwan, Japan, and South Korea by geography and TSMC, Samsung Electronics and Tokyo Electron by individual firm. ·         SAMSUNG rose after $NVIDIA(NVDA)$ approved its advanced memory chips for AI accelerators essential to training of AI models, enabling its 12-layer HBM3E product to compete with higher-end products. SQU YTD return: +8.06% ·      &nbs

【SRT】 As of 19 Sep 2025 (Fri), while $CSOP iEdge SREIT ETF S$(SRT.SI)$ slightly declined by -1.40% WTD in SGD, it rose 11.81% YTD in SGD. Following September's 25bp Fed rate cut and indications of further easing, DBS recommends strong positioning in Singapore REITs (S-REITs) due to their attractive yield and projected DPU growth. As Singapore’s 6-month T-bill yields drop to around 1.3%, capital may flow back into S-REITs, reigniting a Q4 rally. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +11.81% 【MMF】 Fed delivered a 25bp rate cut at the September FOMC meeting as expected, with the dot plot signalling a further 50bp easing this year, which coincided with the bond market’s short-term expec

SRT SRT YTD return: +13.11% – Despite $CSOP iEdge SREIT ETF S$(SRT.SI)$ ’s WTD declines, it has gained 13.11% in SGD YTD, and S-REITs remain supported by tailwinds. – With markets anticipating a 25bp Fed rate cut today and further reductions ahead, Singapore's 3M SORA may fall. – Morgan Stanley expects S-REIT borrowing costs to decline as maturing debt is refinanced at lower rates, even if rates remain steady, which could improve dividends, a positive for S-REITs. MMF – The Fed is anticipated to cut 25bp today. – Nevertheless, we expect $CSOP USD Money Market Fund (SGXZ96797238.MF)$ to continue to deliver stable yield in the near term. As of 2025/09/16, the fund has a net yield at 4.12%. ^ $MMF Net 7-day Yield: +4.12% ^ 7-day net yield is calcul