GLOBAL - Wilshire Associates and Dow Jones Indexes have launched a global version of their US real estate indexes, the Dow Jones Wilshire Global Real Estate Securities Index (RESI) and its subset, the Dow Jones Global REIT Index.
According to Wilshire the RESI is a measure of the types of global real estate securities that represent the ownership and operation of commercial or residential real estate. The launch marks an expansion of the original US index, developed in 1991 by Wilshire Associates to serve as a proxy for direct real estate investment by institutions.
Wilshire Associates said: “Because actual real estate holdings are bought and sold infrequently, indexing the “market value” of these holdings is slow and problematic, while pension plans and other institutions need a more reliable and regularly available benchmark.
The Dow Jones Wilshire Global Real Estate Securities Index included publicly traded securities of both real estate operating companies and real estate investment trusts. It is comprised of only those REITs and REIT-like securities in the larger index.
By Daniel Flatt
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