To The Moon

【Money Market Fund】 US$ MMF Net 7-day Yield: +3.71%^ Looking ahead, HSBC sees two main themes in the market, Fed independence and Supreme Court’s decision regarding the tariffs levied under the IEEPA. During the weekend (2026/01/17), Trump proposed tariffs on eight nations opposing his Greenland acquisition plans, and this reignited trade tensions. Markets saw a rise in risk-off sentiment, and haven assets rallied. Despite the geopolitical environment, we expect CSOPUMM to continue delivering stable yields in the near-term. ^ Data as of 2026/01/16. 7-day net yield is calculated based on calendar days and NAVs in 5-decimal. 【REITs】 S$ SRT YTD total return: +1.39% As of 16 Jan 2026 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ rose 0.75% WTD in SGD and

【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 5 Dec 2025 (Fri), SRT slightly declined 1.52% WTD in SGD, and rose 12.82% YTD in SGD. Despite its decline, Singapore REITs are on track to posting strongest gains since 2019. As reported in The Business Times on 7 Dec 2025, S-REITs are buoyed by rate tailwinds, lower debt cost, and resilient occupancies and rental reversions across various subsectors. Acquisition and divestment activity has also intensified. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +12.82% 【MMF】 Following weeks of volatility, markets now expect a third straight Federal Reserve rate cut at December's FOMC meeting, even though key data has been postponed till after the meeting due to the extended government shutdown. Looking ahead, the December Summary

【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.

East Asia LCU YTD return: +24.45% – While $CSOP LOW CARBON US$(LCU.SI)$ declined 2.51% in USD WTD, it gained 24.45% in USD YTD. – WTD declines are primarily attributable to a broad global risk-off sentiment. Tech selloff happened amid rising concerns surrounding the profit viability of AI as AI might not have produced sufficient revenue or profits to justify huge infrastructure spending. SQU YTD return: +6.29% – While $CSOP SEA TECH ETF US$(SQU.SI)$ fell slightly 0.93% in USD WTD, it gained 6.29% in USD YTD. – WTD declines were primarily led by Goto Gojek Tokopedia, Grab and Delta Electronics Thai. China SHD YTD return: -2.42% SCY YTD return: +46.52% – According to HSBC, China A-shares saw strong 3Q2

【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

【SRT】 As of 31 Oct 2025 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ was slightly down at -0.62% WTD in SGD, and rose 15.14% YTD in SGD. SRT’s decline was against a backdrop of a hawkish Fed rate where, despite a 25bp rate cut at the Oct meeting, Powell had stated that a cut at the Dec meeting was not a foregone conclusion. Nevertheless, DBS expects two more cuts and possible further easing, with S-REITs potentially facing short-term market volatility as markets reassess Fed rate trajectory, though limited downside anticipated. A steady rate-cut cycle should lower funding costs and improve refinancing into FY26. DBS foresees S-REIT sentiment improving after 3Q25 results, as low SORA rates make interest rates more favourable. S$ SRT 2025 YTD Total Re