Thomson Reuters Real Estate Indices
Thomson Reuters provides a range of indices used to track the performance of real estate securities across various geographical regions at different levels of liquidity. The indices benefit from the real estate expertise of Global Property Research (GPR) and Asia Pacific Real Estate Association (APREA).
Thomson Reuters Indices has developed a global suite of highly liquid property indices in collaboration with specialist real estate index provider Global Property Research (GPR).The index family is composed of the 100 most liquid property stocks in the world and is designed to be used as the basis of Exchange Traded Funds and other structured products.
The TR/GPR indices combine GPR's specialist knowledge of researching and indexing global property markets with Thomson Reuters' experience of calculating and distributing Real Time indices which are tracked by some of the most successful investment products in the world.
Each index is highly investable whilst remaining representative, with the TR/GPR Global 100 index covering 70-80% of global investable real estate market capitalization. Constituents typically have no less than $3 million in daily traded volumes. The indices are calculated on a Real Time basis and are fully UCITS compliant, making them ideal for licensing as the basis of investment products such as Exchange Traded Funds.
The Real Estate index family is made up of the following variants:
- TR/GPR Global 100 Index USD <.GPRGLU>
- TR/GPR Global 100 Index EUR <.GPRGLE>
- TR/GPR EMEA 30 Index USD <.GPREUU>
- TR/GPR EMEA 30 Index EUR <.GPREUE>
- TR/GPR Americas 40 Index USD <.GPRAMU>
- TR/GPR Americas 40 Index EUR <.GPRAME>
- TR/GPR Asia Pacific 30 Index USD <.GPRAPU>
- TR/GPR Asia Pacific 30 Index EUR <.GPRAPE>
For more information, download the fact sheets below:
- Thomson Reuters/Global Property Research index series 357K
- TR/GPR Global 100 333K
- TR/GPR EMEA 30
- TR/GPR Americas 40
- TR/GPR Asia Pacific 30
The methodology for the Thomson Reuters/Global Property Research index family has been developed by GPR and ensures that the indices focus on liquid property investment companies and exclude pure property developers.
Index constituents must fulfill the below minimum requirements for index inclusion:
- $50Mn free float market capitalization
- 15% minimum available free float
- 75% of operational turnover from real estate activity
- 25% operational turnover from rental income
Companies are allocated a sector when over 60% of operational revenue is generated from one of the below sectors:
All other companies meeting index inclusion are tagged as diversified.
Country allocation is based either on the country of listing, or the country in which over 75% of operational turnover is derived from.
For more information, download the full index series methodology document.
TR/GPR 100 Index Final Constituents
Effective Monday, March 18, 2013 start of trading, the TR/GPR Global 100 Index and its sub-indices, TR/GPR Americas 40 Index, TR/GPR Asia Pacific 30 Index and TR/GPR EMEA 30, will be rebalanced. The final constituent changes are as follows:
|Americas||Brazil||BR Malls Participaçoes S.A.|
|EMEA||Germany||TAG Immobilien AG|
|Asia Pacific||Hong Kong||Swire Properties Limited|
|Asia Pacific||Japan||Leopalace21 Corp|
|Americas||United States ||Highwoods Properties Inc|
|Asia Pacific||Australia||Investa Office Fund|
|Asia Pacific||Japan||AEON Mall Co. Ltd.|
|Americas||United States||Mack-Cali Realty Corp.|
|Americas||United States||Post Properties Inc.|
The TR/GPR Index series is rebalanced semi-annually in March and September. For more information, please visit the GPR website.
Thomson Reuters, Global Property Research (GPR) and Asia Pacific Real Estate Association (APREA) jointly provide the most comprehensive and representative indicators of Asia Pacific property available.
The index series utilize a transparent, objective rules based methodology developed in collaboration with APREA and other leading property investors to ensure the index reflects Asia Pacific property market characteristics.
The flagship index is the TR/GPR/APREA Composite Index consisting of 372 listed property companies and REITs across 13 Asia Pacific countries. Unlike other real estate indices, the index has a larger allocation to developers, reflecting their dominance as a form of securitised real estate in Asia Pacific. Individual country and REIT specific variants are also available.
For more information, download the factsheets below: