Keppel REIT bumps off Olam Group in STI reserve list

STI constituents, on the other hand, were unchanged. 

Following its September quarterly review, FTSE Russell announced that there will be no changes to the constituents of the Straits Times Index (STI).

If and when there are constituents that become ineligible as a result of corporate actions before the review in December 2023, stocks on the reserve list will replace them.

As of September, Olam Group will no longer be part of the STI reserve list and will be replaced by Keppel REIT. 

Joining Keppel REIT in the reserve list are CapitaLand Ascott Trust, Frasers Centrepoint Trust, Keppel DC REIT, and Suntec REIT.

FTSE Russell, STI’s administrator, said indexes undergo a quarterly review in accordance with the index ground rules and to facilitate the inclusion of eligible IPO stocks. 

The administrator said its review also ensures that the index “accurately represents the investable universe for benchmarking purposes and can be easily replicated as the basis of index-linked products.”