FTSE ST INDEX SERIES Data as at: 30 April 2018

Transcription

1 FTSE MONTHLY REPORT April 218 FTSE ST INDEX SERIES Data as at: 3 April 218 FTSE ST INDEX SERIES INTRODUCTION FTSE Group, the Singapore Exchange Ltd. (SGX) and Singapore Press Holdings Ltd. (SPH) have jointly created the FTSE ST Index Series to provide investors with a comprehensive series of indices for accessing segments of the Singapore s market. The index series adopts FTSE s global index standards such as size, free float weighting and liquidity screening and provides a familiar tool for performance measurement, product creation and analysis, appealing to both local and international investors. The Straits Times Index (STI) is the flagship index that captures the largest, most liquid companies on the Singapore market. The index is also delivered on an intrasecond streaming basis, enabling investors to make trading decisions based on intrasecond index quotes and respond more rapidly to immediate market events. STI AND FTSE ST INDEX SERIES COMMENTARY Straits Times Index (STI) % The Straits Times Index (STI) ended the month in positive territory in April up 5.42 per cent, managed to outperform the FTSE ASEAN 4 Index by 4.3 per cent. 1Month Performance of Selected FTSE Indices FTSE Bursa Malaysia KLCI FTSE Indonesia Index FTSE SET Large Cap Index FTSE Philippines Index FTSE Vietnam Index 8.45 FTSE ASEAN 4 Index FTSE AllWorld Index Month SGD Performance Singapore was the best performing Asian market this month. The second best performing Asian market was India, with the FTSE India Index, up 4.91 per cent. Vietnam was the worst performer, with the FTSE Vietnam Index falling 8.45 per cent. The FTSE AllWorld Index was up 1.71 per cent. Within the size segments of the Singapore market, Large & Mid Cap companies had the best performance with the FTSE ST Large & Mid Cap Index up 4.88 per cent, followed by Mid Cap companies seeing an increase of 2.49 per cent in April. Fledgling companies were the worst performers. The FTSE ST AllShare Index had a performance of 4.5 per cent. 1Month Performance of the STI and FTSE ST Index Series Straits Times Index (STI) FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index 1.7 FTSE ST AllShare Index FTSE ST Fledgling Index 2.21 FTSE ST Catalist Index 2.43 FTSE ST China Index FTSE ST Maritime Index 3.27 FTSE ST Real Estate Index Pharmaceuticals & Biotechnology was the best performing sector in the FTSE ST AllShare Index, up 11.9 per cent, followed by Banks companies, up 1.15 per cent. The Electronic & Electrical Equipment, and Personal Goods sectors had the worst performance in April, down and per cent, respectively. TABLE OF CONTENTS Introduction & Index Series Overview Straits Times Index (STI) STI Dividend Index FTSE ST AllShare Index FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST China Index FTSE ST Maritime Index FTSE ST Real Estate Index FEATURES Objective The indices have been designed for the creation of structured products, index tracking funds, ETFs or as performance benchmarks Universe Companies that have a full listing on the SGX Mainboard and SGX Catalist are eligible for inclusion in the STI and FTSE ST Index Series Coverage The indices provide a comprehensive coverage of the major market segments of the Singapore market, including size, sectors, and China indices Design The indices have been designed for both domestic and international investors who want to see global standards applied to the selection and maintenance of companies Investability Index constituents are freefloat weighted to ensure that only the investable opportunity set is included within an index Month SGD Performance KrisEnergy had the strongest performance in the FTSE ST AllShare Index, up 2 per cent, with Hutchison Port Holdings Trust the best performing STI constituent, up per cent. STRAITS TIMES INDEX (STI) Bloomberg FSSTI Reuters <.FTSTI> Factset STISES Telekurs CH Source: FTSE Russell 1 of 3

2 FTSE ST Index Series Data as at: 3 April 218 INFORMATION STI AND FTSE ST INDEX SERIES Index Universe SGX Mainboard & SGX Catalist 98% Universe Large & Mid Cap Mid Cap Small Cap Fledgling Industry Indices AllShare Screen for Size and Higher Liquidity STI Screen for Revenue from Maritime Related Activities The following indices are included in the STI and FTSE ST Index Series: Maritime Screen for Sales Revenue / Operating Assets from Mainland China China Catalist Index Launch FTSE ST Index Series 1 Jan 28 FTSE ST China Index 1 Jan 28 FTSE ST Catalist Index 22 Jun 29 FTSE ST Maritime Index 1 Sep 29 STI Dividend Index 1 Nov 21 Base Date STI 9 Jan 28 Other FTSE ST Indices 5 Oct 27 Base Value STI Other FTSE ST Indices 1 Index Calculation Realtime and endofday indices available. Realtime indices are calculated at the following intervals: STI intrasecond streaming basis Other FTSE ST Indices every 6 seconds EndofDay Distribution Indices available at 19: Singapore local time (11: hours UK time GMT or 12: hours BST) via FTP and Straits Times Index (STI) This index comprises the largest 3 companies by full market capitalisation that meet stated eligibility requirements. FTSE ST Large & Mid Cap Index This index comprises the Large and Mid Cap companies listed on the SGX Mainboard that meet stated eligibility requirements. FTSE ST Mid Cap Index This index comprises the Mid Cap companies listed on the SGX Mainboard that meet stated eligibility requirements. FTSE ST Small Cap Index This index comprises the Small Cap companies listed on the SGX Mainboard that meet the stated eligibility requirements. FTSE ST AllShare Index This index comprises the Large, Mid and Small Cap companies listed on the SGX Mainboard that meet the stated eligibility requirements. Currency USD, EUR, GBP, JPY, SGD Realtime calculated in SGD only Review Dates Full review in March and September Fast entrant review in June and December Index Rules Available at Vendor Codes See page 4 or contact info@ftserussell.com Historical Data Available from August 1999 FTSE ST Fledgling Index This index comprises the constituents listed on the SGX Mainboard that are too small to be in the FTSE ST All Share Index. FTSE ST China Index This index comprises all the constituents from the FTSE ST AllShare Index that have the majority of their sales revenue derived from or operating assets located in Mainland China, that meet the stated eligibility requirements. FTSE ST Maritime Index This index comprises the companies of the FTSE ST AllShare Index that derive the majority of their revenue from marinerelated activities that meet the stated eligibility requirements. FTSE ST Industry Index There are 1 Industry, 19 Supersector and 39 Sector Indices comprised of the constituents in the FTSE ST All Share Index. These industries and sectors are defined in the Industry Classification Benchmark (ICB). FTSE ST Catalist Index This index comprises the sponsored companies listed on the SGX Catalist that meet the stated eligibility requirements. INDUSTRY CLASSIFICATION BENCHMARK (ICB) The indices are calculated in accordance with the Industry Classification Benchmark (ICB), the global standard for industry sector analysis The ICB contains four classification levels: Industries (x1) Supersectors (x19) Sectors (x41) Subsectors (x114) Global presence ICB is adopted by stock exchanges representing over 65% of the world s market capitalisation Source: FTSE Russell 2 of 3

3 FTSE ST Index Series Data as at: 3 April 218 INDEX METHODOLOGY OVERVIEW Eligible Securities All classes of the ordinary shares in issue are eligible for inclusion in the STI and FTSE ST Index Series, subject to conforming to all other rules of eligibility, free float and liquidity. Index Review The STI and FTSE ST Index Series have a full review in every March and September using data on the Monday 4 weeks prior to review effective date. In June and December, a fast entrant review is applied to selected indices for new issues not large enough to qualify as fast entrants since the previous March or September review, using data on the Monday 4 weeks prior to the review effective date. For the STI, new issues will be reviewed with the existing constituents. The reviews will be implemented after the close of business on the third Friday of the review month. Constituent Selection Inclusion Screens For the FTSE ST Index Series, the Index Universe is defined as the top 98% of the Country Universe where all eligible companies from the SGX Mainboard are ranked by full market capitalisation, i.e. before the adjustment of free float. A company will be inserted at the periodic review if it is located at the position stated below in the Index Universe for the relevant index: FTSE ST Large & Mid Cap Index Risen to 86% or above FTSE ST Mid Cap Index Risen to 86% or above, but below 68% FTSE ST Small Cap Index Risen to 98% or above, but below 86% A company will be deleted at the periodic review if it is located at the position stated below in the Index Universe for the relevant index: FTSE ST Large & Mid Cap Index Fallen below 92% FTSE ST Mid Cap Index Fallen below 92%, or risen to 68% or above FTSE ST Small Cap Index Fallen below 11%, or risen to 86% or above A company will be eligible for the FTSE ST AllShare Index providing it is a constituent of either the large & mid, or small cap index. At review, all constituents of the STI must be existing or pending constituents of the FTSE ST AllShare Index. A company will be inserted into the STI at the periodic review if it rises above the position stated below when the eligible securities are ranked by full market capitalisation, i.e. before the adjustment of free float: STI Risen to 2th or above A company in the STI will be deleted at the periodic review if it falls below the position stated below when the eligible securities are ranked by full market capitalisation, i.e. before the adjustment of free float: STI Fallen to 41st or below Further details of the index methodology can be found on The following publications are available by contacting your local FTSE Russell Client Services team or info@ftserussell.com. GROUND RULES FOR THE FTSE ST INDEX SERIES GROUND RULES FOR THE STRAITS TIMES INDEX Liquidity Screen Liquidity screen is conducted in March and September and is based on a security s median daily trading per month on the SGX, with each daily trade total ranked and the middle ranking day selected. Daily totals with zero trades are included. For the FTSE ST Index Series (excluding the Fledgling and Catalist Index which are not screened for liquidity): Nonconstituents must turnover at least.5% of their shares in issue (after the adjustment of free float) in ten of the twelve months prior to the March or September review. An existing constituent must trade at least.4% of its shares in issue (after the adjustment of free float) for at least eight of the twelve months prior to the March or September review. New issues must have a minimum 2 days trading record when reviewed and a turnover of at least.5% of their free float adjusted shares in each month since their listing. For the STI: Nonconstituents must turnover at least.1% of their shares in issue (after the adjustment of free float) in ten of the twelve months prior to the March or September review. An existing constituent must trade at least.8% of its shares in issue (after the adjustment of free float) for at least eight of the twelve months prior to the March or September review. New issues must have a minimum 2 days trading record when reviewed and a turnover of at least.1% of their free float adjusted shares in each month since their listing. Free Float The FTSE ST Index Series constituents are adjusted for free float and weighted according to how much share capital is available for public investment. This achieves the most accurate and neutral market representation possible: meaning that only shares you can own are included in the index. FTSE has chosen to apply a precise free float methodology rounded to 12 decimal places when determining the eligibility of a stock. STI and FTSE ST Index Advisory Committee The STI and FTSE ST Index Advisory Committee governs the ongoing management of these indices to ensure they continue to meet the needs of index users. The committee is made up of senior investment professionals and finance industry experts acting independently to advise on the creation of new indices, any enhancements to the methodology and to ensure that the index series evolves with any changes in the market environment. Source: FTSE Russell 3 of 3

4 FTSE ST Index Series Data as at: 3 April 218 COMMENTARY IN APRIL Global markets were in positive territory in April, with the FTSE AllWorld Index up 1.71 per cent. Yeartodate global markets have seen negative performance, down 1.53 per cent. Europe was the best performing region in April finishing the month up 2.89 per cent. Latin America was the worst performing region, down on the month.68 per cent. Asian markets saw positive performance with the FTSE Asia Pacific Index up 1.79 per cent. Within Asia Singapore was the best performing market in April, with the Straits Times Index (STI) up 5.42 per cent. The Industrial Transportation sector within the STI Index had the best performance up 1.48 per cent, with Electronic & Electrical Equipment sector showing the worst performance down per cent. The best performing STI Index constituent was Hutchison Port Holdings Trust showing a positive return of per cent in April. Within the size segments in April large cap companies were the best performers in the FTSE ST Index Series, with fledgling companies showing the worst performance, down 2.21 per cent on the month. The FTSE ST AllShare Index had a performance of 4.5 per cent in April, with KrisEnergy the best performing constituent, up 2. per cent. Year to date the FTSE ST Maritime Index has the highest volatility within the FTSE ST Index Series at per cent. The FTSE ST China Top Index has the lowest volatility with. per cent. This compares to a volatility of 3.97 and 9.38 per cent respectively for 217. The FTSE ST AllShare Index had a volatility of per cent, higher than 217's 7.35 per cent. As at the end of April, the FTSE ST Large & Mid Cap Index accounts for 94.8 per cent of the FTSE ST AllShare Index, with the 64 constituents of the FTSE ST Small Cap Index accounting for 5.92 per cent. The top ten constituents of the FTSE ST Large & Mid Cap Index account for per cent of the index, compared to per cent of the FTSE ST Small Cap Index and per cent of the FTSE ST AllShare Index. Pharmaceuticals & Biotechnology was the best performing sector in the FTSE ST AllShare Index up 11.9 per cent in April, with Banks being the second best performer up 1.15 per cent. Electronic & Electrical Equipment was the worst performing sector followed by Personal Goods down per cent and per cent, respectively. With an index weighting of 6.8 per cent and 31 constituents, Financials is the largest industry in the FTSE ST Large & Mid Cap Index, up 7.33 per cent in weighting compared to the previous month. This compares to a weight of per cent in the FTSE ST Mid Cap Index and per cent in the FTSE ST AllShare Index. VENDOR CODES Straits Times Index (STI) FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST China Index FTSE ST Maritime Index FTSE ST Real Estate Index FTSE STI FSTLM FSTM FSTS FSTAS FSTF FSTICA FSTCT FSTC FSTAM BLOOMBERG FSSTI FSTLM FSTM FSTS FSTAS FSTF FSTICA FSTCT FSTC FSTAM REUTERS.FTSTI.FTFSTLM.FTFSTM.FTFSTS.FTFSTAS.FTFSTF.FTFSTICA.FTFSTCT.FTFSTC.FTFSTAM FACTSET STISES FSTMSES FSTSSES FSTASSES FSTFSES FSTICASES FSTCTSES FSTCSES FSTAMSES TELEKURS CH CH36127 CH CH CH TK TK43928 CH36134 TK Source: FTSE Russell 4 of 3

5 Straits Times Index (STI) Data as at: 3 April 218 INDEX OVERVIEW The STI comprises the largest companies by full market capitalisation in the FTSE ST AllShare Index. The index is a free float adjusted marketcapitalisation weighted index representing the performance of the largest Singapore blue chip companies, which pass the size, free float, and liquidity screens. The index represents approximately 6 per cent of the SGX Mainboard and as at the end of April there were 3 constituents in the index. STI FIVEYEAR PERFORMANCE (SGD PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The STI ended the month in positive territory in April up 5.42 per cent, outperforming the FTSE ST AllShare Index by.92 per cent. Year to date the STI performance is up by 6.2 per cent, with a volatility of per cent, higher than 217 s volatility of 8.35 per cent. Industrial Transportation had the best sector performance in the STI in April, up 1.48 per cent. STI FTSE ST AllShare Index STI HISTORICAL PERFORMANCE TABLE (SGD PRICE RETURN) CUMULATIVE PERFORMANCE ANNUALISED PERFORMANCE 1M 3M 6M YTD 1Y Div Yield STI FTSE ST AllShare Index PERFORMANCE OF THE STI AND SELECTED FTSE ASIA PACIFIC COUNTRY INDICES IN APRIL (SGD PRICE RETURN) Rank Number of Cons Net Market Cap (SGDbn) 1M Perf 1 Straits Times Index (STI) FTSE India Index FTSE Korea Index 129 1, FTSE ASFA Australia 2 Index 199 1, FTSE China 25 Index FTSE Hong Kong Index FTSE Japan Index 59 8 FTSE New Zealand Index 12 5, Rank FTSE Indonesia Index 15 FTSE TWSE Taiwan 5 Index FTSE Vietnam Index Number of Cons Net Market Cap (SGDbn) 9 FTSE Bursa Malaysia KLCI FTSE Philippines Index FTSE SET Large Cap Index FTSE Pakistan Index FTSE China A5 Index 5 1, M Perf STI HISTORICAL REVIEW TURNOVER BEFORE REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (SGDm) September ,247 AFTER REVIEW Number of Cons Net Market Cap (SGDm) 2Way Turnover 3 287, March , ,687.7 Total 7.69 Note: The majority of index changes occurs at the index reviews in March and September. Review changes to the index may include constituent additions/deletions, shares in issue and free float changes, and changes due to corporate events. Source: FTSE Russell 5 of 3

6 Straits Times Index (STI) Data as at: 3 April 218 FIVEYEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN (13.99%) 2 2 (8.6%) (4.54%) 3 (5.29%) 5 (7.7%) Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities 11 (59.89%) Key: 11 Number of Constituents (59.89%) Index Weight RELATIVE PERFORMANCE AGAINST STI (SGD PRICE RETURN) 1 MONTH 1 YEAR Basic Materials Basic Materials Consumer Goods.7 Consumer Goods STI Industry Indices Consumer Services Financials Health Care Industrials Oil & Gas Technology STI Industry Indices Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunication Utilities 1.26 Telecommunication Utilities Relative Performance Relative Performance STI HISTORICAL VOLATILITY (SGD PRICE RETURN) Volatility STI FTSE ST AllShare Index Index volatility is calculated on a rolling 18 days basis. Source: FTSE Russell 6 of 3

7 Straits Times Index (STI) Data as at: 3 April 218 STI HISTORICAL VOLATILITY TABLE (SGD PRICE RETURN) YTD * 1Y * ** *** 214 * 215 * 216 * STI FTSE ST AllShare Index * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. STI HISTORICAL SHARPE RATIO (SGD PRICE RETURN) STI FTSE ST AllShare Index YTD* 1Y* ** *** 214* 215* 216* 217* * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. Note: Singapore 3Month interbank offered rate (SIBOR) is used as the risk free rate. STI HISTORICAL CORRELATION AGAINST FTSE ST ALLSHARE INDEX (SGD PRICE RETURN) YTD * 1Y * ** *** 214 * 215 * 216 * 217 * STI * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. STI 5 AND 5 SECTOR PERFORMERS ICB Code ICB Sector Number of Cons Net Market Cap (SGDm) Index Weight 1M Perf 1Y Perf Div Yield 277 Industrial Transportation 2 5, Banks 3 138, Beverages 1 8, Media 1 4, Travel & Leisure 3 16, General Industrials 2 25, General Retailers 1 3, Aerospace & Defense 1 5, Industrial Engineering 1 2, Electronic & Electrical Equipment 1 5, STI ONEYEAR PERFORMING SECTOR BANKS Index Rebased (28 Apr 217=1) PROFILE Number of Constituents: 3 Largest Constituent in Sector: DBS Group Holdings Weight in Straits Times Index (STI): 43.41% 1Year Price Return: 47.16% Dividend Yield: 2.4% STI Banks FTSE ST Banks Index STI Source: FTSE Russell 7 of 3

8 Straits Times Index (STI) Data as at: 3 April 218 STI 1 CONSTITUENTS Rank Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf 1 D5 DBS Group Holdings Banks 55, O39 OverseaChinese Banking Banks 45, U11 United Overseas Bank Banks 38, Z74 Singapore Telecommunications Mobile Telecommunications 26, J36 Jardine Matheson Holdings Diversified Industrials 16, BN4 Keppel Oil Equipment & Services 11, H78 Hongkong Land Holdings Real Estate Holding & Development 11, C31 Capitaland Real Estate Holding & Development 9, J37 Jardine Strategic Holdings Diversified Industrials 9, Y92 Thai Beverage Brewers 8, Totals 231, STI 5 AND 5 PERFORMERS Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf NS8U Hutchison Port Holdings Trust Transportation Services 2, D5 DBS Group Holdings Banks 55, U11 United Overseas Bank Banks 38, C52 ComfortDelGro Travel & Tourism 4, Y92 Thai Beverage Brewers 8, E5H Golden AgriResources Farming, Fishing & Plantations 2, C9 City Developments Real Estate Holding & Development 5, S63 Singapore Technologies Engineering Aerospace 5, BS6 Yangzijiang Shipbuilding Holdings (S Chip) Commercial Vehicles & Trucks 2, V3 Venture Corp Electronic Equipment 5, STI PERFORMER IN APRIL HUTCHISON PORT HOLDINGS TRUST PROFILE Hutchison Port Holdings Trust FTSE ST Industrial Transportation Index Straits Times Index (STI) 5.42% STI Top Performer in April Hutchison Port Holdings Trust 5.91% 14.62% Month Price Return Local Code: NS8U ICB Subsector: Transportation Services Weight in STI:.7% Dividend Yield 61.49% Hutchison Port Holdings Trust was the best performing company in Singapore's STI in April. The share price rose 14.62% mm. It is a container port business trust. The Trust invests in, develops, operates, and manages deepwater container ports in the Pearl River Delta. Hutchison Port Holdings also invests in other types of port assets such as river ports, as well as undertake certain port ancillary services that include warehousing and distribution services. Source: FTSE Russell 8 of 3

9 STI Dividend Index Data as at: 3 April 218 INDEX OVERVIEW The STI Dividend Index represents the cumulative value of ordinary cash dividends declared by the individual constituents of the underlying STI, and via products created on the index enables investors to take views on the expected dividends of the STI index. The index can provide a positive return stream that can be attractive to risk adverse investors, but also investors who want to hedge their dividend exposure, or take positions on the basis of their dividend expectations without being exposed to price movements. STI DIVIDEND INDEX HISTORICAL PERFORMANCE (SGD PRICE RETURN) PERFORMANCE HIGHLIGHTS STI (Price Index) (9 Jan 28= ) STI Dividend Index (9 Jan 28=) The STI ended the month in positive territory in April, up 5.42 per cent, outperforming the FTSE ST AllShare Index by.92 per cent. An additional index points were added to the STI Dividend Index in April making a total of index points year to date. This compares to index points at the same point for 217. The STI has a dividend yield of 3. per cent as at the end of April. STI STI Dividend Index (End of Year / Year to Date) CALCULATION METHODOLOGY Index Universe The universe will comprise of the cumulative value of ordinary declared cash dividends announced and paid by the individual constituents of the underlying STI, calculated in terms of index points. All dividends and corporate actions are applied the same way as in the STI. Review Methodology At the annual review FTSE will rebase the STI Dividend Index to at the start of the first trading day of the new calendar year in January. The index will be calculated using end of day pricing. ExDividend Adjustment The exdividend (xd) adjustment represents the value of dividends declared by constituent companies on the xd date expressed in index points. The xd adjustment year to date is the calculation on a cumulative basis for the period between and including the first trading day in the calendar year in January to the last trading day in December of the same year. xd adjustments are based on declared dividends. The xd adjustment is calculated as follows: Market Value of Dividend Latest Index Divisor The method for calculating the xd adjustment uses the divisor as at the close of business on the preceding day after implementing any capitalisation changes. Where a company has more than one line of shares included in the index, the xd adjustment is calculated separately for each line. The market value of dividend is calculated by summation of each company s dividends per share * index shares * free float. If a company declares a dividend in a currency other than Singapore Dollar, the published Singapore Dollar equivalent will be used, if available. If there is no Singapore Dollar equivalent, the dividend will be converted to Singapore Dollar the day before the stock goes xd using the appropriate Singapore Domestic Indices closing rate. FEATURES Objective The STI Dividend Index has been designed as a basis for structured products and derivative contracts Design The index is based on the ordinary cash dividends declared by the individual constituents of the underlying STI, and therefore has a more stable return stream Usage Provides a means to create products to allow investors to hedge their position against dividend risk on the Singaporean market Investability The index is based on the STI, and includes dividends from the largest Singapore companies, which pass the size, free float, and liquidity screens Maintenance The index is managed according to a transparent and public set of index rules, and overseen by an independent committee of leading market professionals. The committee ensures that the rules are correctly applied and adhered to Source: FTSE Russell 9 of 3

10 FTSE ST AllShare Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE ST AllShare Index comprises the constituents in the FTSE ST Large & Mid Cap Index and the FTSE ST Small Cap Index. The index is a free float adjusted marketcapitalisation weighted index representing the performance of approximately 98 per cent of the SGX Mainboard which pass the size, free float, and liquidity screens. As at the end of April there were 132 constituents in the index. FTSE ST ALLSHARE INDEX FIVEYEAR PERFORMANCE (SGD PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) Within the size segments of FTSE ST All Share Index, large cap companies had the best performance in April with the STI up 5.42 per cent, followed by large & mid cap companies seeing an increase of 4.88 per cent. Mid cap companies were the worst performers although up 2.49 per cent. The FTSE ST AllShare Index had a performance of 4.5 per cent. STI FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST Fledgling Index FTSE ST ALLSHARE INDEX HISTORICAL PERFORMANCE TABLE (SGD PRICE RETURN) STI FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST China Index FTSE ST Maritime Index FTSE ST Real Estate Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FIVEYEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 1 of 3

11 FTSE ST AllShare Index Data as at: 3 April 218 RELATIVE PERFORMANCE AGAINST FTSE ST ALLSHARE INDEX (SGD PRICE RETURN) 1 MONTH 1 YEAR FTSE ST Indices Large (STI) Large & Mid Mid Small Fledgling Catalist Real Estate FTSE ST Indices Large (STI) Large & Mid Mid Small Fledgling Catalist 27.2 Real Estate Relative Performance Relative Performance Basic Materials 1.9 Basic Materials 32.5 Consumer Goods.69 Consumer Goods FTSE ST Industry Indices Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunication Utilities FTSE ST Industry Indices Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunication Utilities Relative Performance Relative Performance FTSE ST INDEX SERIES PORTFOLIO CHARACTERISTICS Straits Times Index (STI) FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST All Share Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST Real Estate Index Number of Constituents Full Market Cap (SGDm) 597,22 77, ,954 44, ,4 24,4 11, ,96 % FTSE ST AllShare Index Review Turnover September March Totals Net Market Cap (SGDm) 319, ,683 67,955 23, ,367 11,278 5,178 9,64 Dividend Yield Constituent Sizes (Net Market Cap SGDm) Average 1,648 5,53 1, , ,838 Largest 55,13 55,13 4,954 1,184 55, ,183 Smallest 1, Median 5,733 2,347 1, Weight of Largest Constituent Top 1 Holdings (% Index Market Cap) Source: FTSE Russell 11 of 3

12 FTSE ST AllShare Index Data as at: 3 April 218 FTSE ST INDEX SERIES HISTORICAL VOLATILITY (SGD PRICE RETURN) 25 Volatility STI FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST Fledgling Index FTSE ST Real Estate Index Index volatility is calculated on a rolling 18 days basis. FTSE ST INDEX SERIES HISTORICAL VOLATILITY TABLE (SGD PRICE RETURN) STI FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST Real Estate Index YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. FTSE ST INDEX SERIES HISTORICAL SHARPE RATIO (SGD PRICE RETURN) STI FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST Real Estate Index YTD* 1Y* ** *** 214* 215* 216* 217* * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. Note: Singapore 3Month interbank offered rate (SIBOR) is used as the risk free rate. FTSE ST INDEX SERIES HISTORICAL CORRELATION AGAINST FTSE ST ALLSHARE INDEX (SGD PRICE RETURN) STI FTSE ST Large & Mid Cap Index FTSE ST Mid Cap Index FTSE ST Small Cap Index FTSE ST Fledgling Index FTSE ST Catalist Index FTSE ST Real Estate Index YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. Source: FTSE Russell 12 of 3

13 FTSE ST AllShare Index Data as at: 3 April 218 FTSE ST ALLSHARE INDEX 5 AND 5 SECTOR PERFORMERS ICB Code ICB Sector Number of Cons Net Market Cap (SGDm) Index Weight 1M Perf 1Y Perf Div Yield 457 Pharmaceuticals & Biotechnology 1 1, Banks 3 138, Beverages 1 8, Chemicals Support Services Mining Aerospace & Defense 1 5, Industrial Engineering 4 3, Personal Goods Electronic & Electrical Equipment 3 5, FTSE ST ALLSHARE INDEX 1 CONSTITUENTS Rank Local Code Constituent Name ICB Subsector 1 D5 DBS Group Holdings Banks 2 O39 OverseaChinese Banking Banks 3 4 U11 Z74 United Overseas Bank Singapore Telecommunications Banks Mobile Telecommunications 5 J36 Jardine Matheson Holdings Diversified Industrials 6 BN4 Keppel Oil Equipment & Services 7 H78 Hongkong Land Holdings Real Estate Holding & Development 8 C31 Capitaland Real Estate Holding & Development 9 J37 Jardine Strategic Holdings Diversified Industrials 1 Y92 Thai Beverage Brewers Totals Net Market Cap (SGDm) 55,13 45,77 38,477 26,157 16,627 11,716 11,183 9,438 9,124 8, ,274 Index Weight M Perf FTSE ST ALLSHARE INDEX 5 AND 5 PERFORMERS Local Code SK3 NS8U D5 T14 U11 5ER A5 V3 BN2 H17 Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf KrisEnergy Exploration & Production Hutchison Port Holdings Trust Transportation Services 2, DBS Group Holdings Banks 55, Tianjin Zhongxin Pharmaceutical Group Pharmaceuticals 1, United Overseas Bank Banks 38, Best World International Personal Products Thomson Medical Venture Corp Valuetronics Holdings HiP International Gambling Electronic Equipment Electrical Components & Equipment Industrial Machinery 17 5, Source: FTSE Russell 13 of 3

14 FTSE ST Large & Mid Cap Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE ST Large & Mid Cap Index comprises the companies within the top 9% of the Index Universe by full market capitalisation. The index is a free float adjusted marketcapitalisation weighted index representing the performance of the large and midcapitalised companies trading on the SGX Mainboard, which pass the size, free float, and liquidity screens. As at the end of April there were 67 constituents in the index. FTSE ST LARGE & MID CAP INDEX FIVEYEAR PERFORMANCE (SGD PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE ST Large & Mid Cap Index ended the month in positive territory in April up 4.88 per cent, outperforming the FTSE ST AllShare Index by.38 per cent. Year to date the FTSE ST Large & Mid Cap Index performance is up by 5.25 per cent, with a volatility of per cent, higher than 217 s volatility of 7.61 per cent. Banks had the best sector performance in the FTSE ST Large & Mid Cap Index in April, up 1.15 per cent. FTSE ST Large & Mid Cap Index FTSE ST AllShare Index FTSE ST LARGE & MID CAP INDEX HISTORICAL PERFORMANCE TABLE (SGD PRICE RETURN) FTSE ST Large & Mid Cap Index FTSE ST AllShare Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE ST LARGE & MID CAP INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month September 217 Number of Adds 3 Number of Dels 1 Number of Cons 63 Net Market Cap (SGDm) 329,638 Number of Cons 65 Net Market Cap (SGDm) 336,39 2Way Turnover 3.71 March , , Total 4.7 Note: The majority of index changes occurs at the index reviews in March and September. Review changes to the index may include constituent additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVEYEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 14 of 3

15 FTSE ST Large & Mid Cap Index Data as at: 3 April 218 FTSE ST LARGE & MID CAP INDEX 5 AND 5 SECTOR PERFORMERS ICB Code ICB Sector Number of Cons Net Market Cap (SGDm) Index Weight 1M Perf 1Y Perf Div Yield 835 Banks 3 138, Beverages 1 8, Media 1 4, Food & Drug Retailers 1 3, Industrial Transportation 4 8, General Retailers 1 3, Gas, Water & Multiutilities 3 1, Aerospace & Defense 1 5, Industrial Engineering 1 2, Electronic & Electrical Equipment 1 5, FTSE ST LARGE & MID CAP INDEX 1 CONSTITUENTS Rank Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf 1 D5 DBS Group Holdings Banks 55, O39 OverseaChinese Banking Banks 45, U11 United Overseas Bank Banks 38, Z74 Singapore Telecommunications Mobile Telecommunications 26, J36 Jardine Matheson Holdings Diversified Industrials 16, BN4 Keppel Oil Equipment & Services 11, H78 Hongkong Land Holdings Real Estate Holding & Development 11, C31 Capitaland Real Estate Holding & Development 9, J37 Jardine Strategic Holdings Diversified Industrials 9, Y92 Thai Beverage Brewers 8, Totals 231, FTSE ST LARGE & MID CAP INDEX 5 AND 5 PERFORMERS Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf NS8U Hutchison Port Holdings Trust Transportation Services 2, D5 DBS Group Holdings Banks 55, U11 United Overseas Bank Banks 38, C52 ComfortDelGro Travel & Tourism 4, Y92 Thai Beverage Brewers 8, Q5T Far East Hospitality Trust Hotel & Lodging REITs BS6 Yangzijiang Shipbuilding Holdings (S Chip) Commercial Vehicles & Trucks 2, S51 Sembcorp Marine Oil Equipment & Services 1, BHK SIIC Environment Holdings (S Chip) Water V3 Venture Corp Electronic Equipment 5, Source: FTSE Russell 15 of 3

16 FTSE ST Mid Cap Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE ST Mid Cap Index comprises the companies below the top 7%, but within the top 9% of the Index Universe by full market capitalisation. The index is a free float adjusted marketcapitalisation weighted index representing the performance of the midcapitalised companies trading on the SGX Mainboard, which pass the size, free float, and liquidity screens. As at the end of April there were 43 constituents in the index. FTSE ST MID CAP INDEX FIVEYEAR PERFORMANCE (SGD PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE ST Mid Cap Index ended the month in positive territory in April up 2.49 per cent, although underperforming the FTSE ST AllShare Index by 2.1 per cent. Year to date the FTSE ST Mid Cap Index performance is up by.69 per cent, with a volatility of per cent, higher than 217 s volatility of 6.34 per cent. Media had the best sector performance in the FTSE ST Mid Cap Index in April, up 7.94 per cent. FTSE ST Mid Cap Index FTSE ST AllShare Index FTSE ST MID CAP INDEX HISTORICAL PERFORMANCE TABLE (SGD PRICE RETURN) FTSE ST Mid Cap Index FTSE ST AllShare Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE ST MID CAP INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (SGDm) Number of Cons Net Market Cap (SGDm) 2Way Turnover September , , March , , Total Note: The majority of index changes occurs at the index reviews in March and September. Review changes to the index may include constituent additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVEYEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 16 of 3

17 FTSE ST Mid Cap Index Data as at: 3 April 218 FTSE ST MID CAP INDEX 5 AND 5 SECTOR PERFORMERS ICB Code ICB Sector Number of Cons Net Market Cap (SGDm) Index Weight 1M Perf 1Y Perf Div Yield 555 Media 1 4, Travel & Leisure 3 6, Industrial Transportation 4 8, Construction & Materials 1 1, Real Estate Investment Trusts 15 26, Software & Computer Services 2 2, Food Producers 3 3, Gas, Water & Multiutilities 3 1, Oil Equipment, Services & Distribution 2 4, Industrial Engineering 1 2, FTSE ST MID CAP INDEX 1 CONSTITUENTS Rank Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf 1 T82U Suntec REIT Industrial & Office REITs 4, C52 ComfortDelGro Travel & Tourism 4, T39 Singapore Press Holdings Publishing 4, S58 SATS Transportation Services 3, N2IU Mapletree Commercial Trust Diversified REITs 3, U96 Sembcorp Industries Oil Equipment & Services 2, ME8U Mapletree Industrial Trust Industrial & Office REITs 2, M44U Mapletree Logistics Trust Industrial & Office REITs 2, BS6 Yangzijiang Shipbuilding Holdings (S Chip) Commercial Vehicles & Trucks 2, K71U Keppel REIT Industrial & Office REITs 2, Totals 33, FTSE ST MID CAP INDEX 5 AND 5 PERFORMERS Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) NS8U Hutchison Port Holdings Trust Transportation Services 2,24 C52 ComfortDelGro Travel & Tourism 4,62 Index Weight S58 SATS Transportation Services 3, T39 Singapore Press Holdings Publishing 4, J85 CDL Hospitality Trusts Hotel & Lodging REITs 1, M Perf S8 Singapore Post Ltd Delivery Services 2, Q5T Far East Hospitality Trust Hotel & Lodging REITs BS6 Yangzijiang Shipbuilding Holdings (S Chip) Commercial Vehicles & Trucks 2, S51 Sembcorp Marine Oil Equipment & Services 1, BHK SIIC Environment Holdings (S Chip) Water Source: FTSE Russell 17 of 3

18 FTSE ST Small Cap Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE ST Small Cap Index comprises the companies below the top 9% of the Index Universe by full market capitalisation. The index is a free float adjusted marketcapitalisation weighted index representing the performance of the smallcapitalised companies trading on the SGX Mainboard, which pass the size, free float, and liquidity screens. As at the end of April there were 65 constituents in the index. FTSE ST SMALL CAP INDEX FIVEYEAR PERFORMANCE (SGD PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE ST Small Cap Index ended the month in negative territory in April down 1.7 per cent, underperforming the FTSE ST AllShare Index by 5.57 per cent. Year to date the FTSE ST Small Cap Index performance is down by 4.84 per cent, with a volatility of 1.75 per cent, higher than 217 s volatility of 5.97 per cent. Pharmaceuticals & Biotechnology had the best sector performance in the FTSE ST Small Cap Index in April, up 11.9 per cent. FTSE ST Small Cap Index FTSE ST AllShare Index FTSE ST SMALL CAP INDEX HISTORICAL PERFORMANCE TABLE (SGD PRICE RETURN) FTSE ST Small Cap Index FTSE ST AllShare Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE ST SMALL CAP INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (SGDm) September ,374 March ,56 AFTER REVIEW Number of Cons Net Market Cap (SGDm) 2Way Turnover 67 21, , Total 6.41 Note: The majority of index changes occurs at the index reviews in March and September. Review changes to the index may include constituent additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVEYEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 18 of 3

19 FTSE ST Small Cap Index Data as at: 3 April 218 FTSE ST SMALL CAP INDEX 5 AND 5 SECTOR PERFORMERS ICB Code ICB Sector Number of Cons Net Market Cap (SGDm) Index Weight 1M Perf 1Y Perf Div Yield 457 Pharmaceuticals & Biotechnology 1 1, Chemicals Support Services Food & Drug Retailers General Industrials Media 2 1, Industrial Engineering 3 1, Gas, Water & Multiutilities Personal Goods Electronic & Electrical Equipment FTSE ST SMALL CAP INDEX 1 CONSTITUENTS Rank Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf 1 B61 Bukit Sembawang Estates Real Estate Holding & Development 1, BTOU Manulife US REIT Industrial & Office REITs 1, BUOU Frasers Logistics & Industrial Trust Industrial & Office REITs 1, T14 AJBU Tianjin Zhongxin Pharmaceutical Group Keppel DC REIT Pharmaceuticals Specialty REITs 1, ND8U Frasers Commercial Trust Industrial & Office REITs K2LU J91U O5RU Cache Logistics Trust ESRREIT AIMS AMP Capital Industrial REIT Industrial & Office REITs Industrial & Office REITs Industrial & Office REITs AW9U First Real Estate Investment Trust Specialty REITs Totals 9, FTSE ST SMALL CAP INDEX 5 AND 5 PERFORMERS Local Code Constituent Name ICB Subsector Net Market Cap (SGDm) Index Weight 1M Perf SK3 KrisEnergy Exploration & Production T14 Tianjin Zhongxin Pharmaceutical Group Pharmaceuticals 1, OV8 Sheng Siong Group Food Retailers & Wholesalers CH8 China Sunsine Chemical Holdings Specialty Chemicals CHZ HRnetGroup Business Training & Employment Agencie D5IU Lippo Malls Indonesia Retail Trust Retail REITs ER Best World International Personal Products A5 Thomson Medical Gambling BN2 Valuetronics Holdings Electrical Components & Equipment H17 HiP International Industrial Machinery Source: FTSE Russell 19 of 3