SINGAPORE (EDGEPROP) - Real estate investment fund Lendlease Global Commercial REIT will be included in the MSCI Singapore Small Cap Index after market trading closes on May 29. This was announced by the fund’s manager, Lendlease Global Commercial Trust Management, in a press release on May 18.
Based on the MSCI Global Investable Market Indexes Methodology, which has a strong emphasis on index liquidity, investability and replicability, the MSCI Singapore Small Cap Index is designed to measure the performance of the small caps segment of the Singapore market. With 51 constituents as at April 30, the index represents approximately 14% of the free float-adjusted market capitalisation of the Singapore equity universe.
The REIT’s portfolio includes 313@Somerset shopping mall (pictured) in Singapore, and three newly completed office buildings in Milan, Italy. Picture: Samuel Isaac Chua/The Edge Singapore)
The inclusion of Lendlease Global Commercial REIT comes seven months after the REIT was listed on the mainboard of the Singapore Exchange. This move will enhance the REIT’s trading liquidity, and signifies “a mark of confidence” in the REIT, says Kelvin Chow, CEO of Lendlease Global Commercial Trust Management.
He adds: “We are delighted to celebrate this significant milestone for LREIT (Lendlease Global Commercial REIT) to be included in the MSCI Singapore index. Being part of the benchmark index is an important leap for us to reach out to a larger pool of investors and raise LREIT’s profile in the international investment community.”
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