Religare Health Trust

Religare Health Trust: impacted from two fronts: - its portfolio of India hospitals means lower SGD contribution after the Indian rupee fell to a record low yday - trusts, just like Reits, generally do not perform well in a higher interest rate environment. This asset class is vulnerable in particular, because: - as leveraged vehicles, a higher cost of funds may lead to lower distributions and yields, and - demand for REITs may fall as fixed income instruments offer more attractive yields for less market risk.