Singapore Exchange: Dividends Boost Mid Cap Index To +6.3% In YTD

In the year to date the FTSE ST Mid Cap Index has generated a price gain of +5.27%, with dividend distributions boosting the gain to +6.27%.
The next quarterly review of the FTSE ST Index Series which includes the FTSE ST Mid Cap Index is scheduled for 7 March.
The Mid Cap’s five biggest gainers in February were Ezion Holdings , ARA Asset Management, Ying Li International Real Estate, Super Group and Raffles Medical Group

The FTSE ST Mid Cap Index is made up of 50 stocks that have an average market capitalisation of S$1.4 billion. The full market capitalisation of the 50 stocks that make up the Index amounted to S$116 billion as of Friday.

The indicative dividend yield of the Mid Cap Index is 4.23%. Approximately 40% of the Index weights consists of Real Estate Investment Trusts (REITs). With Real Estate Investment & Services accounting for approximately 15% of the Index weightings, combined, the Real Estate sector accounts for more than half of the Index weights.

In the year to date, the FTSE ST Mid Cap Index has generated a price gain of 5.27%, with dividend distributions boosting the gain to +6.27%. Over the past 12 months the Index has gained +18.2% in price, with dividends further boosting the gain to +24.8%.This compares to a dividend boosted return of +13.2% for the Straits Times Index (STI) over the past 12 months. More on the 12 month performances of STI constituents can be found here.

The 12 month performances of the current top ten weightings of the Mid Cap Index are detailed in the table below. Note these 10 stocks accounted for 48.0% of the Index weightings as of Friday. Performances of this group have ranged from a 9.0% gain for Venture Corp to a 64.4% return for Mapletree Commercial Trust, on a total return basis.

Name	SGX Code	Index Weight (%)	February Price Return (%)	12M Total Return (%)	Dvd Ind Yld
ASCENDAS REAL ESTATE INV TRT	A17U	8.19	1.58	34.8	5.57
HUTCHISON PORT HOLDINGS TR-U	NS8U	6.2	-1.42	11.55	8.66
SUNTEC REIT	T82U	5.71	5.9	58.69	5.2
UOL GROUP LTD	U14	5.35	4.16	42.17	2.32
CAPITACOMMERCIAL TRUST	C61U	5	-0.3	49.14	4.98
KEPPEL LAND LTD	K17	4.58	-2.35	30.41	2.91
SATS LTD	S58	3.48	-3.61	34.29	3.78
VENTURE CORP LTD	V03	3.34	0.59	9.03	5.97
MAPLETREE LOGISTICS TRUST	M44U	3.16	4.27	45.35	5.55
MAPLETREE COMMERCIAL TRUST	N2IU	2.97	0.75	64.4	4.94

Source: FTSE Group and Bloomberg, 12 month return to 1 March 2013

While the biggest ten stocks of the Mid Cap Index account for almost half of the Index weightings, the five best performers and five most laggard stocks of February resided outside these ten.

The Mid Cap’s five biggest gainers in February were led by Oil Equipment & Services Company Ezion Holdings with a +10.2% price gain. Asset Managers ARA Asset Management followed with a 9.9% gain. Next best performers were Ying Li International Real Estate Super Group and Raffles Medical Group. The five most laggard stocks of the Mid Cap Index in February were Indofood Agri Ezra Holdings Biosensors Pacific Andes Resources Development and Neptune Orient Lines.

Name	SGX Code	Index Weight (%)	1M Total Return (%)	12M Total Return (%)	Dvd Ind Yld
EZION HOLDINGS LTD	5ME	1.82	10.22	118.28	0.05
ARA ASSET MANAGEMENT	D1R	1.03	9.94	40.32	2.67
YING LI INTERNATIONAL REAL E	5DM	0.81	9.38	36.36	n.a.
SUPER GROUP LTD	S10	2.25	9.28	135.85	1.78
RAFFLES MEDICAL GROUP LTD	R01	1.26	6.93	40.89	1.36
INDOFOOD AGRI RESOURCES LTD	5JS	0.77	-4.98	-23.06	0.24
EZRA HOLDINGS LTD	5DN	1.18	-5.04	-2.75	n.a.
BIOSENSORS INTERNATIONAL GRO	B20	2.35	-5.54	-12.03	n.a.
PACIFIC ANDES RESOURCES DEVE	P11	0.39	-7.14	-29.56	2.13
NEPTUNE ORIENT LINES LTD	N03	1.74	-8.17	-11.94	n.a.

Source: FTSE Group and Bloomberg (12 month return to 1 March 2013)

The next quarterly review of the FTSE ST Index Series which includes the FTSE ST Mid Cap Index is scheduled for 7 March. More information on this process can be found here. In the last semi-annual rebalancing Neptune Orient Lines replaced GuocoLand in the FTSE ST Mid Cap Index.