American Century Investment has increased its stake in Rex International, a Singapore-listed company, through the Avantis International Small Cap Value ETF (AVDV ETF). This move, announced on 17 July, saw the Kansas City-based investment firm surpass the 5% substantial shareholder threshold, acquiring 2,436,200 shares at S$0.178 each. The AVDV ETF, which targets small-cap stocks in non-US developed markets, now holds 5.3% of Rex’s outstanding shares.
The AVDV ETF, with assets under management close to $11 billion, includes 30 Singapore-listed stocks. Yangzijiang Financial Holding is the largest Singapore weight in the ETF at 0.61%, followed by First Resources at 0.18%. Rex International accounts for 0.09% of the ETF’s portfolio. The ETF’s strategy focuses on stocks with low valuations and strong profitability to enhance expected returns.
The ETF’s inclusion of 30 Singapore stocks has seen a significant increase in their Average Daily Turnover (ADT) in 2025, rising to S$52.9 million from S$29.3 million in 2024. These stocks have delivered an average total return of 42% and a median total return of 25%.
The AVDV ETF’s investment approach evaluates companies based on financial metrics such as book value and cash flow, aiming to build a diversified portfolio adjusted for market capitalisation, value, and profitability. This strategic move highlights the growing interest in Singapore’s small-cap market, potentially influencing future investment trends.
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