Andrew Cannane

Perpetual Corporate Trust continues to see strong demand for its trustee services across the region following the Initial Public Offer (IPO) of the Keppel KBS REIT in Singapore, which raised more than $US550 million from institutional and retail investors.

Listed on the Singapore Stock Exchange, Perpetual (Asia) Limited will act as trustee for the newly-listed Singapore Real Estate Investment Trust (S-REIT).

The S-REIT invests in a diversified portfolio of income producing commercial assets in the United States. The initial portfolio will comprise 11 properties in the US worth more than US$825 million.

Perpetual Corporate Trust General Manager – Managed Funds Services, Andrew Cannane said: “Singapore continues to grow as a major regional hub for REITs, due to its strong positioning as a well-regulated market, good eco-system of service providers for the REIT industry, good liquidity for capital raising and favourable tax treatment for REITs. As a result we continue to see strong demand for our Singapore trustee services.”

Mr Cannane also highlighted the ongoing demand for trustee services for cross-border transactions.

“Our presence in Singapore means we are uniquely placed as the only trustee with licenses to act as trustee in Singapore and Australia. Therefore Perpetual is able to provide its expertise in both markets and facilitate cross-border transactions between the two regional neighbours.

“And with the pilot of the Asian Regional Funds Passport set to commence in January 2018, we expect to see cross-border flows continue to grow and will be well placed to help clients take advantage of this emerging regional collaboration.”

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