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« State-Run Drug Companies Banking on Realty Pill to Boost Bottom-Line | Home | Banned from buying houses, foreigners opt for long lease »

S&P launches Asia Property 40 Index

Standard & Poor’s on Monday launched the S&P Asia Property 40 Index, which will provide liquid exposure to leading publicly-listed companies in the Asian property and real estate markets.

S&P Asia Property 40 Index comprises of 40 leading listed Asian property companies that meet size, liquidity and local listing requirements, with no single market having more than 15 stocks in the index or representing more than 40 per cent of the index. It will be used by banks and asset management companies to create retail investment products.

The index is aimed at providing investors with diversified; invest able exposure to the Asian property market. The index is a subset of the S&P/Citigroup Global Property Index, which is comprised of more than 400 stocks from the S&P/Citigroup Broad Market Index.

“We have observed a growing trend in Asia in the securitization of real estate assets through the public equity markets, as well as the public listing of property management firms. This presents an opportunity for the region’s investors to diversify their own holdings beyond conventional stocks and bonds, and for foreign investors to gain exposure to the long-term growth of the Asian property markets. S&P has launched the S&P Asia Property 40 index because there is currently no tradable index that provides investors efficient access to this Asian asset class,” said Tim Eisenhauer, vice president, S&P Index Services.

The top 10 index companies by market capitalization are: Mitsubishi Estate, Swire Pacific, Sun Hung Kai Properties, Mitsui Fudosan, Cheung Kong (Holdings), CapitaLand, Country Garden Holdings, Sumitomo Realty & Development, Guangzhou R&F Properties, Hang Lung Properties.

The S&P Asia Property 40 Index employs a modified market capitalization-weighting scheme, and is rebalanced after the close of business on the third Friday of November each year. Stocks must have total market capitalization above $1 billion and a three-month average daily value traded above the liquidity threshold of $ 3 million. All stocks in the selection universe are classified according to country of domicile, with China and Hong Kong being treated as separate countries. Each stock’s domicile must be an Asian country and its primary market listing must be on a regulated Asian stock exchange.

News Published Under:   Banking and Finance, Real Estate India | No Comments »

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