11 smaller Singapore Reits enter FTSE EPRA Nareit Global Real Estate Index

Prior to the review, there were 17 Singapore Reits and property trusts in the FTSE EPRA Nareit Developed Index.
Prior to the review, there were 17 Singapore Reits and property trusts in the FTSE EPRA Nareit Developed Index.ST PHOTO: GIN TAY

SINGAPORE (THE BUSINESS TIMES) - Eleven of Singapore's smaller real estate investment trusts (Reits) have made it into the FTSE EPRA Nareit Global Real Estate Index series, according to the index series' quarterly review changes announced by FTSE Russell on Wednesday (Sept 1).

The entries into the FTSE EPRA Nareit Global Developed Index include AIMS APAC Reit, ARA Logos Logistics Trust, Cromwell European Reit, ESR-Reit, Far East Hospitality Trust, Keppel Pacific Oak US Reit, Lendlease Global Commercial Reit, OUE Commercial Reit, Prime US Reit, SPH Reit and Starhill Global Reit.

The index series, which tracks the performance of listed real estate companies and Reits, is a global benchmark jointly developed by FTSE Russell with the EPRA (European Public Real Estate Association) and the Nareit (National Association of Real Estate Investment Trusts).

FTSE Russell noted that the increased number of additions this quarter was due to the updated thresholds for the Developed Asia series.

In June, the investable market cap threshold was lowered to 0.1 per cent of the securities' respective regional index for additions to the Developed Asia series, compared to 0.3 per cent previously. For deletions from the index series, the threshold was lowered to 0.05 per cent from 0.15 per cent.

The review may be subject to changes until the close of business on Sept 3, and all constituent changes will be applied after the close of business on Sept 17.

Prior to the review, there were 17 Singapore Reits and property trusts in the FTSE EPRA Nareit Developed Index, according to the index's factsheet as at July 30 this year.