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In the news
APREA, EPRA and NAREIT Asian Roadshow
Immediately after the conclusion of the
APREA Property Leaders Forum in Ho Chi
Minh City the chief executive officers of
NAREIT, EPRA and APREA embarked on a
roadshow through key Asian centres to
promote the global listed real estate markets
and the benefits of listed real estate as an
investment class.
This roadshow followed successful similar
events the three undertook in Canada,
Europe and the US late last year. This is the
first such event to be held in Asia.
They visited Tokyo, Seoul, Hong Kong,
Singapore, Sydney and Melbourne in less
than 2 weeks. Nikko Citigroup, JP Morgan,
UBS and Macquarie Bank sponsored the
events in, respectively, Japan, Korea, Hong
Kong and Singapore and Australia.
Overall, the CEOs spoke to many hundreds of
institutional investors, property companies
and fund managers both in open sessions
and in one-on-ones.
Their presentation focused on the latest
EPRA research on the global listed real estate
markets, recent developments in the US, the
latest Ibbotson research conducted in the US
on US, European and Asian listed real estate
and the benefits of an allocation to listed
EPRA Membership hits 19
Membership numbers continue to rise.
Since the last edition in December we
have welcomed eleven new members. New
members for this period are: Berwin,
Leighton and Paisner, Moody’s Investor
Services, Morley Fund Management and the
UK Commercial Property Fund from the UK.
From Continental Europe we welcomed:
epra news - april 2007 - www.epra.com
Peter Mitchell, CEO, APREA.
real estate in a balanced portfolio and developments
in Asia.
The success of this first roadshow has encouraged
the 3 organisations to repeat the
venture next year, after the APREA forum in
Macau.
APREA, EPRA and NAREIT would like to
express our thanks to the sponsoring banks
and also to our steering committee, comprising
Fran Thompson of FTSE, Ron Cheshire
of Presima and Evan Gallagher of Allco
Singapore. $
Patrizia Immobilien (Germany), Redevco
(Netherlands), Renta Corporación (Spain),
Sal. Oppenheim (Switzerland), Spazio
(Netherlands) and Warimpex (Austria). The
only non European member was Oxford
Property Investors from Canada. A full membership
list is located on page 2 of the newsletter.
$
FTSE EPRA/NAREIT
Investment Focus and
Sectors Indices Launched
In December last
year we launched
the investment focus
& sector indices on
the back of significant
demand from clients. The introduction of the
indices further enhances the global series
offering investors the ability to slice and dice
the market into focused parts.
Classification by investment focus is based on
revenue sources as disclosed in the latest
published financial statement. Each constituent
of the FTSE EPRA/NAREIT Global Index is
classified as ‘Rental’ if 70%, or more of its
total revenue is derived from rental income.
If the rental income falls below the 70%
threshold, the company is classified as ‘Non
Rental’.
The sector indices are broken down into nine
specific property types. The classification is
based on the gross invested book assets as
disclosed in the latest published financial
statement. The company is classified in one
of the following sectors if 75%, or more, of
its gross book assets are invested in one of
the seven sectors below:
• Healthcare
• Industrial
• Lodging/Resorts
• Office
• Residential
• Retail
• Self-Storage
A company is classified as belonging to one
of the two sectors listed below when its
assets do not meet the 75% threshold for
one of the seven property sectors above.
• Diversified
• Specialty
Further details of the new series are available
from www.ftse.com $