SSgA/Tuckerman Liquid 40 European Real Estate Index Strategy Surpasses US$1 Billion in Assets Under Management; Strategy Achieves Significant Milestone on its Three-Year Anniversary.LONDON and BOSTON -- The Tuckerman Group (Tuckerman), a real estate investment management and advisory firm and member of State Street Global Alliance, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , announced today that the SSgA/Tuckerman Liquid 40 Real Estate Securities Index Strategy has exceeded US$1 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. (as of July 31, 2005). Since its launch in 2002, the strategy has gained significant momentum, attracting investors throughout Europe and the Middle East. Tuckerman manages the strategy's assets in commingled funds and separate accounts. The objective of the strategy is to provide institutional investors with a liquid and diversified passive exposure to the European real estate securities market. The strategy replicates the returns of the EPRA EPRA European Public Real Estate Association EPRA European Platform of Regulatory Authorities (radio & television) EPRA European Parliament Representation Act EPRA Estonian Public Relations Association Liquid 40 Index, a customised index created by Tuckerman and the European Public Real Estate Association (EPRA) that includes the 40 most liquid European real estate securities. The EPRA Liquid 40 Index mirrors the 25% annualised performance of the EPRA Europe Index. "We're excited to reach this important milestone for our Liquid 40 European Real Estate Index Strategy in just three years since its inception, which illustrates that investors are choosing real estate over other asset classes," said Chip Lauckhardt, chairman and chief executive officer of The Tuckerman Group. "In a highly competitive market in which many active managers are underperforming, returns on real estate investments, particularly in Europe and Asia, have been solid." Tuckerman's customised index methodology selects the 40 most liquid securities based on trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. and float-adjusted market capitalisation Noun 1. market capitalisation - an estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share market capitalization . Historically, the Liquid 40 index has maintained a close correlation (0.992) to the broader universe of European real estate securities. "We developed a unique and customised liquid index to offset a relatively illiquid Illiquid An asset or security that cannot be converted into cash very quickly (or near prevailing market prices). Notes: A house is a good example of an illiquid asset. See also: Cash, Liquidity Illiquid In the context of finance. European market for real estate securities," said Matthew Pace, a product engineer with The Tuckerman Group. "By choosing a collection of the most liquid real estate securities from the EPRA Europe Index, we are able to maintain the geographic and property sector diversification Sector diversification Constituting of a portfolio of stocks of companies in each major industry group. included in the broader EPRA European index." Tuckerman has also constructed a separate custom EPRA ex-U.K. Index, which allows investors to independently manage their exposure to U.K.-based real estate securities, which account for nearly 50 percent of the pan-European market. The Tuckerman Group manages private real estate investments and public real estate securities portfolios, and provides advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to institutional and individual investors. The company's direct real-estate investment capability has a strategic focus on value-added strategies. About The Tuckerman Group The Tuckerman Group is part of State Street Global Alliance, LLC, a jointly-owned subsidiary of State Street Global Advisors the investment management arm of State Street Corporation, and the Dutch pension fund ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. , one of the world's largest pension funds. The Tuckerman Group has two principal units: Tuckerman Investors, offering value-added investment programs to institutional investors on a co-investment basis, and Tuckerman Securities, managing funds which invest in real estate securities on both an active fundamental and passive basis. The Tuckerman Group currently manages over $4 billion in real estate assets. The Tuckerman Group has its headquarters in Rye Brook, New York Rye Brook is a village in Westchester County, New York, United States. The population was 8,602 according to the 2000 census. The Village of Rye Brook was established in 1982 and is in the Town of Rye. with additional offices in Boston and Chicago. For more information visit www.thetuckermangroup.com. About State Street Global Alliance LLC State Street Global Alliance, LLC, founded in 2001, is the strategic venturing partnership jointly owned by State Street Global Advisors and one of the world's largest pension funds, Stichting Pensioenfonds ABP (ABP). State Street Global Alliance seeks to develop partnerships with innovative asset managers worldwide to develop investment excellence and innovation with growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in excess of industry averages. State Street Global Alliance currently consists of five majority-owned companies and two minority investments. For more information, visit www.ssgaglobalalliance.com. About State Street Global Advisors State Street Global Advisors, the investment management group of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.4 trillion in investment programs and portfolios as of June 30, 2005, State Street Global Advisors has investment centers in Boston, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 28 cities worldwide. For more information, visit www.ssga.com. |
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