As an income investor, I'm glad for this development. If you compare the proposed REIT ETF with any one of our individual REITs, the yield is a bit on the low side (4.53% over the last 12 months).
Of the top 10 constituents, only 2 belongs to Singapore (Ascendas and CapitaMall). With the exception of the Link REIT from Hong Kong, the remaining 7 are Australian REITs. As the ETF will consist of 30 members, I was curious as to who the other constituents are.
The ETF will be reviewed semi-annually in March and September.
I will most probably deploy my cash into the ETF in tranches. While the PE ratio of 10.91 seems acceptable, the total returns for the Index have since ran up quite a fair bit. I have to remind myself that I should be looking at total return instead of yield on cost. If I purchase at too high a price, I would definitely lose out once the price corrects. A safer approach is to enter after a correction, benefiting from both a price appreciation and dividend yield (total return).