【SRT】 As of 22 Aug 2025 (Fri), SRT rose slightly +0.81% WTD in SGD and +7.62% YTD in SGD. WTD gains were primarily driven by retail, office and industrial by subsector and CICT, MLT, and KREIT by individual firm. Generally, S-REITs gained after Macquarie released a report stating that S-REITs largely met expectations in the latest earnings season and declining interest costs and a steep ~50bps 2QCY25 SORA drop signal future interest cost savings. Meanwhile, MLT rose after its rating was lifted by Macquarie from Underperform to Neutral on valuation support from declining rates. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total Return: +7.62% 【MMF】 The FOMC minutes released during the week showed inflation remains a bigger concern than job risks. D

East Asia  LCU WTD return: +0.00% ·         Asian equities traded flat WTD amid cautious sentiment surrounding Trump’s talks with Ukraine and Russia and as traders assessed risks to regional stability and energy supply chains. ·         Within $CSOP LOW CARBON US$(LCU.SI)$ , consumer discretionary, industrials and consumer staples were top gainers by sector WTD while Toyota Motor, Daiichi Sankyo and Suzuki Motor were top gainers by individual firm WTD. ·         Daiichi Sankyo rose after receiving FDA’s breakthrough therapy designation for its drug for extensive-stage small cell lung cancer, which was seen as upside cataly

【SRT】 As of 8 Aug 2025 (Fri), SRT rose +1.52% WTD in SGD and +6.46% YTD in SGD. WTD gains were driven by office, retail and industrial by subsector and MPACT, Suntec REIT and CICT by individual REIT. Suntec REIT gained after having its rating and target price raised by DBS Group due to strong 1H earnings, and falling interest rates. Separately, JPM’s July S-REITs review highlighted reduced borrowing costs and office REITs’ outperformance over retail peers, driven by Singapore’s SORA rate drop below 2% as office REITs have the highest leverage (>40%) which amplified gains. As reported by The Straits Times and The Business Times, CSOP's SRT ETFs was the best performer among S-REIT ETFs in June. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 YTD Total R

East Asia LCU WTD return: +2.07% – Asian equities rose after investors bought on the dip amid rate-cut optimism. – $CSOP LOW CARBON US$(LCU.SI)$ ’s WTD gain in USD was primarily attributable to communication services, IT, and financials by sector, China, Taiwan and South Korea by region, and $TENCENT(00700)$ , $Taiwan Semiconductor Manufacturing(TSM)$ and Nintendo by individual firm. – Tencent gained after it led share buybacks in Hong Kong stock exchange in July. Nintendo shares rose as quarterly earnings highlighted robust Switch 2 sales. SQU WTD return: +1.99% – $CSOP SEA TECH ETF US$(SQU.SI)$ ’s WTD gain in USD w

【SRT】 As of 1 Aug 2025 (Fri), despite a 0.41% WTD decline in SGD, SRT rose +4.87% YTD in SGD. Declines present opportunities for investors to increase their SRT allocation, especially when current S-REITs valuations are attractive. UBS recently reported that their upgrade of S-REITs from market weight to overweight is attributable to easing financing cost (SORA peaking), revived investor demand for high-yield quality assets and peaking supply pressures that could drive rent growth.   $CSOP S-REITs INDEX ETF(SRT.SI)$ 2025 YTD Total Return: +4.87% 【MMF】 At the July FOMC meeting, the Fed held rates steady for the fifth consecutive meeting as expected, maintaining the ongoing wait-and-see approach amid tariff-related inflationary concerns. At t

AsianInvestor, the authoritative Asian asset management publication, recently announced the results of its 2025 Asset Management Awards. The CSOP USD Money Market Fund, based in Singapore, was awarded ​​ Best Money Market Fund: Highly Commended​​ category for its outstanding performance. The AsianInvestor Asset Management Awards, now in its twentieth year, aim to recognize financial institutions that have demonstrated excellence in the asset management industry over the past year. The awards are widely acknowledged across the Asian financial markets. This is the first time that CSOP USD Money Market Fund has won an award, which shows that this product is recognised for its scale and performance in terms of scale and performance. Launched in Singapore in 2022, the CSOP USD Money Market Fund

【SRT】 Gains over the week was led by industrial, office and retail by subsector, and Suntec REIT, FLT, and KREIT by individual REIT. Suntec REIT gained after it reported resilient 1H performance with 1H DPU gaining 3.7% due to strong operating performance and lower financing costs. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 WTD Total Return: +1.49% 【MMF】 This week, headlines surrounding Fed Chair Powell’s future at the central bank. Secretary Bessent had said that there was “nothing that tells” him that Powell should step down now. Secretary Bessent has also called for a review of the Fed’s non-monetary policy functions. On the data front, initial jobless claims had fallen to 217k (consensus: 226k), signaling labor resilience. Flash July PMI diverge

East Asia LCU WTD return: -0.32% – Overall, Asian stocks fell WTD as investors braced for updates on US trade negotiations. While US has pushed back tariff deadline to August 1, Trump has stated refusal to further extend the deadline which dampened risk appetite. $CSOP LOW CARBON US$(LCU.SI)$ SQU WTD return: +0.36% – $CSOP SEA TECH ETF US$(SQU.SI)$ gained WTD in USD and that was led by MD Entertainment, Goto Gojek Tokopedia and Astra. Astra gained after being raised from hold to buy by Indo Premier Securities. China SHD WTD return: +0.76% SCY WTD return: +1.02% – $CSOP DIV ETF S$(SHD.SI)$ ’s WTD gains were led by HLA Group, China South Publishing and Nanj

East Asia $CSOP LOW CARBON US$(LCU.SI)$ WTD return: -0.06% – Overall, Asian stocks fell WTD as Trump reaffirmed plans to hike tariffs by July 9 (no delay). Japanese equities were impacted as Trump escalated tariff threats and criticized Japan’s rejection of US rice imports. $CSOP SEA TECH ETF US$(SQU.SI)$ WTD return: +1.87% – SQU gained WTD in USD and that was led by Delta Electronics, Infosys, and Sime Darby. China $CSOP DIV ETF S$(SHD.SI)$ WTD return: +0.59% $CSOP Star&Chinext50 S$(SCY.SI)$WTD return: +0.77% – Funding costs surged on the last trading day of June, with the 7-day interbank pledged repo rate

East Asia  $CSOP LOW CARBON US$(LCU.SI)$WTD return: +1.39% Overall, Asian stocks gained WTD after an Israel-Iran ceasefire eased Middle East tensions. LCU WTD gains in USD were attributable to financials, IT, and communication services by sector, Japan, China and Australia by region, and Commonwealth Bank of Australia, Xiaomi and SK Hynix by individual firm.   $CSOP SEA TECH ETF US$(SQU.SI)$WTD return: +0.76% SQU gained WTD in USD and that was led by Delta Electronics, Grab and Infosys. Infosys gained after Jefferies rated Infosys a buy for its forward-thinking AI strategy and delivery excellence.  China  $CSOP DIV ETF S$(SHD.SI)$ WTD re

 East Asia  $CSOP LOW CARBON US$(LCU.SI)$ LCU WTD return: +0.33% Overall, Asian stocks gained WTD, recovering from losses late last week though markets wavered amidst risks from trade disputes, potential new US tariffs as well as escalating Middle East geopolitical tensions. LCU WTD gains in USD were attributable to IT, communication services and consumer discretionary by sector, Japan, China and Taiwan by geography, and TSMC, Advantest Corp and Alibaba Group. TSMC (foundry) and Advantest (testers) gained alongside other Asian semiconductor stocks as Ai-related trade momentum builds. $CSOP SEA TECH ETF US$(SQU.SI)$ WTD return: +0.75% SQU gained WTD in USD and that was led by Grab, Sea and W