FTSE and NAREIT join forces on US real estate indexes.Global index provider FTSE Group and the National Association of Real Estate Investment Trusts (NAREIT NAREIT National Association of Real Estate Investment Trusts ) have agreed to transfer the calculation and dissemination of the NAREIT Domestic Real Estate Index Series to FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. and to rename it the FTSE NAREIT US Real Estate Index Series. With interest in REITs growing around the world, this collaboration represents a positive step for both the investment community and the REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). and publicly traded real estate industry. NAREIT indexes have served as investment performance benchmarks for the REIT industry since their inception in January 1972. They were designed to provide the most comprehensive assessment of overall industry performance and include all tax-qualified REITs with common shares that trade on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. or the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market List. By working with FTSE, the indexes will benefit from FTSE's operational support and technical capability and be brought in line with FTSE's award winning and internationally recognized index design methodology. Commercial real estate investment has long been recognized by institutional investors as a core asset in mixed asset portfolios. Over the 30-year period ended December 2005, the FTSE NAREIT All REITs Index outperformed most major US and international equity and bond indexes with an impressive 13.8% compound annual total rate of return. Steven A. Wechsler, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NAREIT, and Mark Makepeace, Chief Executive, FTSE Group, said in a joint statement, "NAREIT and FTSE are both leaders in their respective fields--NAREIT is committed to providing the best possible services to REITs and publicly traded real estate companies with an interest in the U.S. real estate and investment marketplace, while FTSE is widely recognized as a leading global index provider. "Working together, we are creating an index suite that meets the needs of both domestic and international investors, ensuring awareness and visibility of the US REIT industry across global markets." |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion