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At the February 2010 meeting of the FTSE EPRA NAREIT Global Advisory Group, it was agreed that ‘Red Chips’ in the FTSE EPRA NAREIT Global Real Estate Index Series, which have remained in Hong Kong (Developed) since September 2009, will move to China (Emerging) in March 2012.
Any new ‘Red Chips’ added to the FTSE EPRA NAREIT Global Real Estate Index Series will enter the index as part of China (Emerging) with immediate effect.
The following change to Ground Rule 5.5 was also approved:
Existing rule:
5.5. The construction and development of residential homes for sale is considered relevant real estate in Emerging Markets, Developed Asia and Developed Europe, if, (a) or (b) are satisfied. (a) In the previous full financial year, at least 50 percent of EBITDA was earned from relevant real estate activities. (b) At least 50 percent of the company’s gross assets, according to an independent valuation, was accounted for by real estate other than land held for the development of homes for sale.
New rule:
5.5. The construction of residential homes for sale is considered relevant real estate in all of Asia Region and Emerging Markets only.
An updated version of the FTSE EPRA NAREIT Global Real Estate Index Series rules is now available on ftse.com.
If you have any questions, please do not hesitate to contact your local FTSE Client Services team or email info@ftse.com.
For index related enquiries or further information about FTSE EPRA/NAREIT please contact:
| Client Services in UK: |
Tel: +44 (0) 20 7866 1810 |
| Client Services in US: |
New York: (Domestic) + 1 888 747 FTSE (3873) / (International): +1 212 314 1139 |
| Client Services in Asia Pacific: |
Tel: +852 2230 5803 or +65 6223 3738 or +81 3 3581 2811 |
| EPRA: |
Tel: +32 2739 1010 |
| NAREIT: |
Tel: +1 202 739 9400 or +1 800 3 NAREIT |
Or, email your enquiries to info@ftse.com, info@epra.com, info@nareit.com or visit our website at www.ftse.com
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