SINGAPORE – Cromwell EREIT Management Pte. Ltd., the manager (the “Manager”) of Cromwell European Real Estate Investment Trust (“Cromwell European REIT” or “CEREIT”), is pleased to announce that CEREIT will be included in the prestigious FTSE EPRA Nareit Global Developed Markets Index with effect from 21 September 2021.
The Manager’s Chief Executive Officer, Mr. Simon Garing, commented, “CEREIT’s inclusion in the widely recognised FTSE EPRA Nareit Global Developed Index is a significant milestone for the Manager. I am especially delighted that CEREIT has one of the largest free float market capitalisations of ~€1 billion1, among the new entrants from the Singapore market. We are confident that CEREIT will continue to be favoured by active investors while attracting new capital inflows from passive global funds. We look forward to enhanced trading liquidity on the SGX and greater visibility to the global investment community.
“We are thankful for the support of our unitholders and investors, our sponsor Cromwell Property Group and our partners. This achievement further increases the appeal of CEREIT to global institutional capital and underpins our current effort to pivot the portfolio towards a 50% weighting to the light industrial / logistics sector.”
CEREIT is already a constituent of more than 370 indices including the S&P Asia Pacific REIT Index, FTSE ST REIT Index, FTSE ST Small Cap Index, MSCI Singapore Investable Market Index, MSCI Singapore All Cap Index, iEdge S-REIT Index and iEdge SG ESG Leaders Index, amongst others. This greatly enhanced the trading liquidity of CEREIT’s units over the last couple of years. The completion of CEREIT’s 5:1 unit consolidation in May 2021 further increased trading liquidity by 76% effectively over the past few months, which also contributed to CEREIT reaching the appropriate liquidity and free float levels for inclusion.
The FTSE EPRA Nareit Global Real Estate Index is jointly developed by FTSE Russell with the European Public Real Estate Association (“EPRA”) and the National Association of Real Estate Investment Trusts (“Nareit”). In the latest quarterly review of the index, CEREIT passed all eligibility tests for inclusion, including the EBITDA criteria and other liquidity requirements.
The FTSE EPRA Nareit Global Real Estate Index series provides investors with a comprehensive and complementary set of indices and is meant to reflect the stock performance of companies engaged in specific aspects of major real estate markets in the world.