Top five non-REITs in Small Cap Index averaged total return of 36.5% YTD

Indofood Agri Resources leads the pack with a total return of 71.7%.

The five best-performing non-REIT constituents of the FTSE ST Small Cap Index have posted an average total return of 36.5% in YTD, bringing its one-year total return to 17%, according to an SGX report.

Indofood Agri Resources leads the pack with a total return of 71.7% over the same period, followed by Hi-P International at 33.8%, QAF at 33.8%, Hong Leong Asia at 23.5% and Koufu Group and at 19.7%.

These firms are involved in consumer staples (specifically the sub-segments of food manufacturing and restaurant operations), electronics manufacturing and construction machinery sectors and derive their revenues from the Asia-Pacific, ex-Singapore markets.

Meanwhile, the worst-performing stocks in the index are identified to be Japfa (-35.8%), mm2 Asia (-30.2%), Breadtalk Group (-25.4%), CITIC Envirotech (-22.2%) and Duty Free International (-20.2%). These five have averaged a total return of -26.7% YTD.

The FTSE ST Small Cap Index is a free float-adjusted, market capitalisation-weighted index, representing the performance of small-cap companies that pass size, free float and liquidity screens and trade on SGX Mainboard. It has 49 constituents, comprising 20 REITs and 29 companies with a combined market cap of about $37b.

REIT constituents in the Index carry a weighting of approximately 71.9%, with companies accounting for the remaining 28.1%.