Financial Report Analysis: CSOP SG ETF Series I (FY 2024)
Business Description: CSOP SG ETF Series I is a group of exchange-traded funds (ETFs) listed on the Singapore Exchange Securities Trading Limited. The ETFs track the performance of various indices, including the iEdge S-REIT Leaders Index, FTSE Asia Pacific Low Carbon Index, and CSI STAR and CHINEXT 50 Index. 13 – 14
Financial Statement Analysis:
Income Statement:
CSOP iEdge S-REIT Leaders Index ETF experienced a total deficit of S$6,224,319 for the financial year ended 31 December 2024, compared to a total return of S$4,307,051 in the previous year. 9
CSOP FTSE Asia Pacific Low Carbon Index ETF (formerly known as CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF) had a total return of US$2,009,753 for the financial year ended 31 December 2024, compared to US$13,551,794 in the previous year. 10
CSOP CSI STAR and CHINEXT 50 Index ETF had a total return of RMB3,097,816 for the financial year ended 31 December 2024, compared to a total deficit of RMB8,581,615 in the previous period. 11
Dividends:
CSOP iEdge S-REIT Leaders Index ETF paid out distributions of S$2.50 per 100 units on 19 January 2024 and S$2.20 per 100 units on 19 July 2024. 32
There were no distributions from CSOP FTSE Asia Pacific Low Carbon Index ETF (formerly known as CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF) and CSOP CSI STAR and CHINEXT 50 Index ETF during the financial year ended 31 December 2024. 32
Key Strengths and Risks: Strengths:
CSOP iEdge S-REIT Leaders Index ETF has a diversified portfolio of Singapore-listed REITs, which makes up 99.35% of its total net assets. 18
CSOP FTSE Asia Pacific Low Carbon Index ETF (formerly known as CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF) has a well-diversified portfolio across various countries and sectors, with a focus on low-carbon companies. 20 – 23
CSOP CSI STAR and CHINEXT 50 Index ETF provides exposure to the performance of the CSI STAR and CHINEXT 50 Index, which tracks the top 50 companies listed on the STAR and ChiNext markets in China. 27
Risks:
CSOP iEdge S-REIT Leaders Index ETF experienced a total deficit for the financial year, which could be a concern for investors. 9
CSOP FTSE Asia Pacific Low Carbon Index ETF (formerly known as CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF) saw a significant decrease in total return compared to the previous year. 10
CSOP CSI STAR and CHINEXT 50 Index ETF had a total return, but it was lower than the benchmark index performance. 11
Recommendation:
For current holders of CSOP iEdge S-REIT Leaders Index ETF: Given the total deficit for the financial year, current holders may want to consider holding or potentially reducing their position, depending on their risk appetite and investment objectives.
For investors not currently holding CSOP iEdge S-REIT Leaders Index ETF: Investors may want to closely monitor the performance of the ETF and consider investing if they believe the Singapore REIT market will rebound in the future.
For current holders of CSOP FTSE Asia Pacific Low Carbon Index ETF (formerly known as CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF): Given the significant decrease in total return, current holders may want to consider holding or potentially reducing their position, depending on their risk appetite and investment objectives.
For investors not currently holding CSOP FTSE Asia Pacific Low Carbon Index ETF (formerly known as CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF): Investors may want to closely monitor the performance of the ETF and consider investing if they believe the Asia Pacific low-carbon market will perform well in the future.
For current holders of CSOP CSI STAR and CHINEXT 50 Index ETF: Given the total return, current holders may want to consider holding their position or potentially increasing their investment, depending on their risk appetite and investment objectives.
For investors not currently holding CSOP CSI STAR and CHINEXT 50 Index ETF: Investors may want to consider investing in the ETF if they believe the STAR and ChiNext markets in China will continue to perform well.
Disclaimer: This recommendation is based on the information provided in the financial report and may not reflect the latest market conditions or the investor’s individual circumstances. Investors should conduct their own due diligence and seek professional advice before making any investment decisions.
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