AUSTRALIA - Dow Jones Indexes is to launch an index which tracks the performance of the Australian real estate market through the Listed Property Trust (LPT) securities traded on the Australian Stock Exchange.
The Dow Jones Australia LPT Index, developed in conjunction with the Sydney Futures Exchange (SFE) and Atchison Consultants, a property asset consultancy firm, will be launched on June 21.
“The Dow Jones Australia LPT Index provides investors with a transparent and objective tool to measure an investment class that has outperformed the major equity market indexes in recent years,” said Lars Hamich, managing director of STOXX Ltd, the joint venture responsible for Dow Jones Indexes’ business development in Asia, Europe and the Middle East. “The index is designed to underlie investment products, and will allow investors to participate in the performance of the Australian real estate market.”
Hamich said the firm expected additional market participants to issue trading and hedging tools based on the index.
The index, which represents 90% of the float-adjusted market capitalisation of the Australian LPT universe, is calculated in US and Australian dollars.
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