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May 2011
Graph 2 displays the companies' 12-month dividend yield.
* Companies marked with * throughout this report are tax-transparent.
May2
Graph 3 of this Chart Book shows the correlations of each company with the various
indices.
Introduction
This Monthly Company Chart Book is a reference document that aims to present aquick and complete profile of all the constituents of the FTSE EPRA/NAREIT GlobalReal Estate Index, through a number of charts:
For each company, graph 1 presents a comparison of its 12-month rolling
performance against:
- its respective country index,- its respective regional index,- its respective sector index (on a regional basis),- its respective investment focus index (on a regional basis),- its respective REIT/Non-REIT index (on a regional basis),- its respective country blue chip index, and- its respective bond index (on a regional basis).
All performance charts have been rebased to an index value of 1000 on:31 May 2010
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
31-5-11
Customised versions of these graphs (i.e. performance over a longer/shorter period,different rebase dates, combinations of graphs etc.) are available upon request.
Sample Chart
0
200
400
600
800
1,000
1,200
1,400
1,600
Dates
Company -44%
Country Index -33%
Regional Index -22%
Sector Index -11%
Investment Focus Index 11%
REIT/Non-REIT Index 22%
Blue Chip Index 33%
Bond Index 44%
Page 4 Alfabetical Index of Companies Page 315 Section 4 - Emerging Markets & AIM
Page 10 Section 1 - Developed Asia Page 316 Section 4.1 - Brazil
Page 334 Section 4.2 - Chile
Page 11 Section 1.1 - Australia Page 336 Section 4.3 - China
Page 26 Section 1.2 - Hong Kong Page 344 Section 4.4 - Egypt
Page 48 Section 1.3 - Japan Page 346 Section 4.5 - India
Page 69 Section 1.4 - New Zealand Page 360 Section 4.6 - Indonesia
Page 71 Section 1.5 - Singapore Page 370 Section 4.7 - Malaysia
Page 383 Section 4.8 - Mexico
Page 87 Section 2 - Developed Europe Page 389 Section 4.9 - Philippines
Page 396 Section 4.10 - Poland
Page 88 Section 2.1 - Austria Page 399 Section 4.11 - South Africa
Page 91 Section 2.2 - Belgium Page 406 Section 4.12 - Taiwan
Page 98 Section 2.3 - Finland Page 408 Section 4.13 - Thailand
Page 102 Section 2.4 - France Page 418 Section 4.14 - Turkey
Page 112 Section 2.5 - Germany Page 425 Section 4.15 - United Arab Emirates
Page 122 Section 2.6 - Greece Page 428 Section 4.16 - AIM
Page 125 Section 2.7 - Italy
Page 128 Section 2.8 - Israel Page 442 Section 5 - Details on Methodology
Page 130 Section 2.9 - Netherlands
Page 137 Section 2.10 - Norway Page 444 Section 6 - Data Vendor Codes
Page 139 Section 2.11 - Spain
Page 141 Section 2.12 - Sweden Page 458 Contacts
Page 148 Section 2.13 - Switzerland
Page 153 Section 2.14 - United Kingdom Page 459 Disclaimer
Page 185 Section 3 - Developed North America
Page 186 Section 3.1 - Canada
Page 208 Section 3.2 - United States
For an explanation of the graphs and details on the calculation, please refer to Section 5.
A disclaimer applies to this document. Please refer to page 459.
3
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Version: May 2011
Contents
Company Country Page Company Country Page
Ablon Group AIM 433 Boston Properties * USA 221
Acadia Realty Trust * USA 209 BR Malls Participacoes S/A Ord Brazil 319
Aeon Mall Co ltd Japan 49 BR Properties Brazil 320
Affine * France 103 Brigade Enterprises India 349
Agile Property Holdings Hong Kong 27 Brandywine Realty Trust * USA 222
Agree Realty Corp * USA 210 Brascan Residential Properties SA Brazil 318
Akmerkez Gayrimenkul Yatirim Turkey 419 BRE Properties * USA 223
Alam Sutera Realty Indonesia 361 British Land * UK 155
Alarko Gayrimenkul Yatirim Ort. A.S. Turkey 420 Brookfield Props Canada 190
Aldar Properties UAE 426 Bunnings Warehouse Prop * Australia 12
Alexander's Inc. * USA 211 CA Immobilien Anlage Austria 89
Alexandria Real Estate * USA 212 Calloway REIT * Canada 191
Aliansce Shopping Centers Brazil 317 Camargo Correa Desenvolvimento Imobiliario S/A Ord Brazil 321
Allgreen Properties Singapore 72 Camden Property Trust * USA 224
Allied Properties REIT * Canada 187 Campus Crest Communities USA 225
Allreal Switzerland 120 Canadian Apartment Props * Canada 192
Alstria Office * Germany 113 Canadian REIT * Canada 193
Amata Corp Thailand 409 CapitaCommercial Trust * Singapore 74
AMB Property * USA 213 Capitaland Singapore 75
American Assets Trust Inc. * USA 214 Capital & Counties Properties UK 171
American Campus Communities * USA 215 Capital Shopping Centres Group * UK 170
Anant Raj Industries India 347 Capitamall Trust * Singapore 76
Ansal Properties & Infrastructure India 348 Capitamalls Asia * Singapore 77
Apartment Investment * USA 216 Capitamalls Malaysia Trust Malaysia 371
Artis REIT * Canada 188 CapLease Inc. USA 226
Ascendas REIT * Singapore 73 Carpathian AIM 430
Ashford Hospitality * USA 217 Castellum Sweden 142
Asian Property Development Thailand 410 CBL & Associates Props * USA 227
Associated Estates Realty * USA 218 CDL Hospitality Trusts Singapore 78
Avalonbay Communities * USA 219 Cedar Shopping Centers * USA 228
Ayala Land Philippines 390 Central Pattana Thailand 411
Azrieli Group Israel 129 CFS Retail Property Trust * Australia 13
Bakrieland Devel Indonesia 362 Champion REIT * Hong Kong 28
Befimmo * Belgium 92 Chartwell Seniors Housing REIT * Canada 194
Beijing North Star (H) China 337 China Merchants Prop (B) China 338
Beni Stabili Italy 126 China Overseas Land Hong Kong 29
Big Yellow Group * UK 154 China Resources Land Hong Kong 30
BioMed Realty Trust * USA 220 Ciputra Develop Indonesia 363
Boardwalk REIT * Canada 189 Ciputra Property Indonesia 364
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Version: May 2011
Alfabetical Index of Companies
Company Country Page Company Country Page
City Developments Singapore 79 Education Realty Trust * USA 241
Citycon OYJ Finland 99 Emaar Properties UAE 427
CLS Holdings UK 156 Emira Property Fund South Africa 400
Cmnwealth Prop Office * Australia 14 Entertainment Props * USA 242
Cofinimmo * Belgium 93 Equity Lifestyle Properties * USA 243
Cogdell Spencer Inc. USA 229 Equity One Inc * USA 244
Colonia Real Estate Germany 114 Equity Residential Props * USA 245
Colonial Properties * USA 230 Essex Property Trust * USA 246
Cominar REIT * Canada 195 Eurobank Properties * Greece 123
Consorcio Ara Mexico 384 Eurocommercial Props * Netherlands 132
Conygar Investment Company AIM 431 Extendicare Real Estate Investment Trust * Canada 198
Conwert Immobilien Austria 90 Extra Space Storage * USA 247
Corio * Netherlands 131 F&C Commercial Prop UK 160
Corporate Office Props * USA 231 Fabege Sweden 143
Country Garden Holdings Hong Kong 31 Federal Realty Inv * USA 248
Cousins Properties * USA 232 Felcor Lodging Trust * USA 249
Crombie Real Estate Investment Trust Canada 196 Filinvest Land Philippines 391
Cyrela Brazil Realty S/A Empreendimentose e Participacoes OrBrazil 322 First Capital Realty * Canada 199
Daejan Holdings UK 157 First Industrial Realty * USA 250
DCT Industrial Trust * USA 233 First Potomac Realty Trust * USA 251
Derwent London * UK 158 FKP Property Group Australia 16
Desarrolladora Homex SA de CV Mexico 385 Fonciere Des Regions * France 104
Deutsche Euroshop Germany 115 Forest City Enterprises USA 252
Deutsche Wohnen Germany 116 Fountainhead Property Trust South Africa 401
Developers Diversified * USA 234 Franklin Street Properties * USA 253
Development Securities UK 159 Gafisa Brazil 323
Dexus Property Group * Australia 15 Gagfah Germany 118
Diamondrock Hospitality * USA 235 Gecina * France 105
DIC Asset Germany 117 General Growth Properties USA 255
Digital Realty Trust * USA 236 General Shopping Brazil Brazil 324
DLF India 350 Geo B Mexico 386
Dogus GE Gayrimenkul Yat. Ort. A.S. Turkey 421 Getty Realty * USA 254
Dolphin Capital Investors AIM 432 Globe Trade Centre Poland 397
Douglas Emmett * USA 237 Glimcher Realty Trust USA 256
Duke Realty Corp * USA 238 Global Logistics Propertiies Singapore 80
Dundee REIT * Canada 197 Glomac Berhad Malaysia 373
DuPont Fabros Technology USA 239 Goodman Group * Australia 17
Eastgroup Properties * USA 240 Government Properties Income Trust * USA 257
Eastern & Oriental Berhad Malaysia 372 GPT Group * Australia 18
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Version: May 2011
Alfabetical Index of Companies
Company Country Page Company Country Page
Grainger Plc UK 161 Investors Real Estate * USA 268
Great Portland Estates * UK 162 Invista Foundation Prop UK 167
Growthpoint Prop Ltd South Africa 402 Is Gayrimenkul Yatirim Ortak Turkey 422
Guangzhou R&F Properties (H) China 339 IRP Property Investments UK 168
GSW Immobilien AG Germany 119 IVR Prime Urban Developers India 351
H & R Real Estate * Canada 200 Japan Prime Realty Inv. * Japan 50
Hammerson * UK 163 Japan Real Estate * Japan 51
Hang Lung Properties Hong Kong 32 Japan Retail Fund * Japan 52
Hansteen Holdin gs UK 164 JHSF Participacoes Brazil 328
HCP * USA 258 Kenedix Realty Investment * Japan 53
Health Care REIT * USA 259 Keppel Land Singapore 82
Healthcare Realty Trust * USA 260 Kerry Properties Hong Kong 36
Helbor Empreendimentos Brazil 325 Killam Properties * Canada 202
Helical Bar UK 165 Kilroy Realty * USA 269
Henderson Land Dev Hong Kong 33 Kimco Realty * USA 270
Hersha Hospitality Trust * USA 261 Kite Realty Group Trust * USA 271
Highwoods Properties * USA 262 Kiwi Income Property Trust * New Zealand 70
Home Props of New York * USA 263 KLCC Property Holdings Malaysia 376
Hongkong Land Hldgs Singapore 81 Klepierre * France 107
Hopson Development Hong Kong 34 Klovern AB Sweden 145
Hospitality Properties * USA 264 Kungsleden Sweden 146
Host Hotels & Resorts * USA 265 KWG Property Holding Hong Kong 37
HRPT Properties Trust * USA 266 Lamda Development Greece 124
Hufvudstaden A Sweden 144 Land & Houses Thailand 412
Hung Poo Real Estate Development Taiwan 407 Land And General Malaysia 377
Hysan Development Hong Kong 35 Land Securities * UK 169
Icade * France 106 LaSalle Hotel Properties * USA 272
IGB Malaysia 374 LBS Bina Group Berhad Malaysia 378
IGD * Italy 127 LC Corp SA Poland 398
Iguatemi Empresa de Shopping Centers S/A Ord Brazil 326 Leasinvest Real Estate * Belgium 95
IJM Land Berhad Malaysia 375 Lexington Corporate * USA 273
ING Office Fund * Australia 19 Liberty Property Trust * USA 274
ING UK Real Estate Income Trust UK 166 Link REIT * Hong Kong 38
Inland Real Estate Corp * USA 267 Lippo Karawaci Indonesia 366
Inmobiliaria Colonial Spain 140 London & Stamford Property UK 172
Innvest REIT * Canada 201 Lok'N Store Group UK 433
Inpar SA Brazil 327 LPN Development Thailand 413
Intervest Offices * Belgium 94 LTC Properties * USA 275
Invesco Property Income Trust UK 163 LXB Retail Properties UK 434
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Version: May 2011
Alfabetical Index of Companies
Company Country Page Company Country Page
Mack-Cali Realty * USA 276 Parkway Properties * USA 284
Macquarie Countrywide * Australia 20 Parque Arauco Chile 335
Macquarie Office Trust * Australia 21 Parsvnath Developers India 355
Mahindra Lifespace Developers India 352 Patrizia Immobilien Germany 120
Mapletree Logistics Trust * Singapore 83 PDG Realty Brazil 331
Max Property Group UK 435 Peninsula Land India 356
Medical Properties Trust * USA 277 Pennsylvania Real Estate * USA 285
Megaworld Corporation Philippines 392 Piedmont Office Realty Trust * USA 286
Mercialys * France 108 Post Properties * USA 287
Minerva UK 173 Premier Investment Co. * Japan 62
Mid-America Apartment * USA 278 Preuksa Real Estate Thailand 414
Mirland Development Corp AIM 436 Primaris Retail REIT * Canada 205
Mirvac Group * Australia 22 Primary Health Prop.* UK 175
Mitsubishi Estate Japan 54 Prologis * USA 288
Mitsui Fudosan Japan 55 Property Perfect Thailand 415
Morguard REIT * Canada 203 Poly (Hong Kong) Investments Ltd China 340
Mori Trust Sogo REIT * Japan 56 Prestige Estates India 357
MRV Engenharia e Participacoes SA Brazil 329 PS Business Parks * USA 289
Mucklow <A&J> * UK 174 PSP Swiss Property Switzerland 150
Multiplan Empreendimentos Imobiliaros S/A Ord Brazil 330 PT Ciputra Surya Tbk Indonesia 365
MVL Limited India 353 PT Sentul City Indonesia 368
National Health Investors * USA 279 PT Summarecon Agung Tbk. Indonesia 369
National Retail Properties * USA 280 Public Service Properties Inv. AIM 438
Nationwide Health Props * USA 281 Public Storage * USA 290
New World China Land Hong Kong 39 Quintain Estates UK 176
New World Development Hong Kong 40 Ramco-Gershenson * USA 291
Nieuwe Steen Inv * Netherlands 133 Realty Income * USA 292
Nippon Building Fund * Japan 57 Redefine Income Find South Africa 403
Nomura Real Estate Holdings Japan 58 Regency Centers * USA 293
Nomura Real Estate Office Fund * Japan 59 Resilient Property Income Fund South Africa 404
Northern Property REIT * Canada 204 Retail Opportunity Investments Corp. USA 294
Norwegian Property Norway 138 Riocan Real Estate * Canada 206
NTT Urban Development Japan 60 Robinson`s Land Corporation Philippines 393
Omega Healthcare Investors * USA 282 Rodobens Negocios Imobiliarios S/A Ord Brazil 332
Orbit Corporation India 354 Rugby Estates AIM 439
Orient Express Hotel USA 283 SA Corporate Real Estate Fund South Africa 405
ORIX JREIT * Japan 61 Safestore UK 177
O Twelve Estates UK 437 Sare Holding S.A. de C.V. Mexico 387
Pakuwon Jati Indonesia 367 Saul Centers * USA 295
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Version: May 2011
Alfabetical Index of Companies
Company Country Page Company Country Page
SC Asset Thailand 416 Technopolis Finland 101
Segro * UK 177 Tecnisa Brazil 333
Senior Housing Prop * USA 296 The Macerich Company * USA 305
Shaftesbury * UK 179 Tokyo Tatemono Japan 64
Shanghai Lujiazui Fin & Trade Dev (B) China 341 Tokyu Land Japan 65
Shenzhen Investment Hong Kong 41 Tokyu REIT * Japan 66
Shenzhen Vanke (B) China 342 Top REIT * Japan 67
Shimao Property Holdings Hong Kong 42 Torunlar Gayrimenkul Yatirim Turkey 424
Shui On Land Hong Kong 43 TransGlobe Apartment REIT Canada 207
Silic * France 109 Treveria AIM 441
Simon Property Group * USA 297 UDR Inc. * USA 306
Sinpas Gayrimenkul Yatirim Turkey 423 UK Commercial Property Trust UK 182
Sino Land Hong Kong 44 Unibail-Rodamco * France 111
Sirius Real Estate AIM 440 Unite Group UK 183
Six Of October Development & Investment Egypt 345 Unitech India 359
SL Green Realty * USA 298 United Urban Investment * Japan 68
SM Prime Hldgs Philippines 394 Universal Health Realty * USA 307
Societe de la Tour Eiffel * France 110 Urbi Desarrollos Urbanos Mexico 388
Soho China Ltd. Hong Kong 45 Urstadt Biddle Class A * USA 308
Sovran Self Storage * USA 299 U-Store-It Trust * USA 309
SP Setia Malaysia 380 Vastned Offices/Ind * Netherlands 134
Sponda Finland 100 Vastned Retail * Netherlands 135
St Modwen Properties UK 180 Ventas * USA 310
Standard Life Inv Prop UK 181 Vista Land & Lifescapes Philippines 395
Stockland Trust Group * Australia 23 Vornado Realty Trust * USA 311
Strategic Hotels & Resorts USA 300 Warehouses De Pauw * Belgium 96
Sumitomo Realty & Dev Japan 63 Washington Real Estate * USA 312
Sun Communities * USA 301 Weingarten Realty * USA 313
Sun Hung Kai Props Hong Kong 46 Wereldhave * Netherlands 136
Sunteck Realty Ltd. India 358 Wereldhave Belgium * Belgium 97
Sunway City Berhad Malaysia 379 Westfield Group * Australia 24
Sunstone Hotel Investors * USA 193 Westfield Retail Trust Australia 25
Suntec REIT * Singapore 84 Wharf Holdings Hong Kong 47
Supalai PCL Thailand 417 Wihlborgs Fastigheter Sweden 147
Swiss Prime Site Switzerland 151 Wing Tai Holdings Singapore 85
TAG Immobilien Germany 121 Winthrop Realty Trust * USA 314
Tanger Factory Outlet * USA 303 Workspace Group * UK 184
Taubman Centers * USA 304 Yanlord Land Group Singapore 86
Tebrau Teguh Berhad Malaysia 381 YNH Property Malaysia 382
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Version: May 2011
Alfabetical Index of Companies
Company Country Page
Yuexiu Property Co Ltd China 343
Zueblin Immobilien Holding Switzerland 152
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Version: May 2011
Alfabetical Index of Companies
Section 1
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Version: May 2011
Developed Asia
Section 1.1
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Version: May 2011
Australia
Bloomberg: BWP AU Reuters: BWP.AX ISIN: AU000000BWP3 SNL:
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Version: May 2011
Bunnings Warehouse Prop *
Graph 1: 12 Month Returns
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Company: Bunnings Warehouse Prop * -6.1% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
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3 Bunnings Warehouse Prop *
Graph 3: Correlations
-1.00
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3 Bunnings Warehouse Prop * v. Asia Correlation Bunnings Warehouse Prop * v. Global Correlation
Bunnings Warehouse Prop * v. Australia Correlation Bunnings Warehouse Prop * v. Equities
Bunnings Warehouse Prop * v. Bonds
Bloomberg: CFX AU Reuters: CFX.AX ISIN: AU000000CFX0 SNL: CFX-ASX
13
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Version: May 2011
CFS Retail Property Trust *
Graph 1: 12 Month Returns
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Company: CFS Retail Property Trust * -2.85% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
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me
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3 CFS Retail Property Trust *
Graph 3: Correlations
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3 CFS Retail Property Trust * v. Asia Correlation CFS Retail Property Trust * v. Global Correlation
CFS Retail Property Trust * v. Australia Correlation CFS Retail Property Trust * v. Equities
CFS Retail Property Trust * v. Bonds
Bloomberg: CPA AU Reuters: CPA.AX ISIN: AU000000CPA7 SNL: CPA-ASX
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Version: May 2011
Cmnwealth Prop Office *
Graph 1: 12 Month Returns
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Company: Cmnwealth Prop Office * -1.08% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
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3 Cmnwealth Prop Office *
Graph 3: Correlations
-1.00
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-0.60
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3 Cmnwealth Prop Office * v. Asia Correlation Cmnwealth Prop Office * v. Global Correlation
Cmnwealth Prop Office * v. Australia Correlation Cmnwealth Prop Office * v. Equities
Cmnwealth Prop Office * v. Bonds
Bloomberg: DXS AU Reuters: DXS.AX ISIN: AU000000DXS1 SNL: DXS-ASX
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Version: May 2011
Dexus Property Group *
Graph 1: 12 Month Returns
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Company: Dexus Property Group * 14.19% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
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3 Dexus Property Group *
Graph 3: Correlations
-1.00
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3 Dexus Property Group * v. Asia Correlation Dexus Property Group * v. Global Correlation
Dexus Property Group * v. Australia Correlation Dexus Property Group * v. Equities
Dexus Property Group * v. Bonds
Bloomberg: FKP AU Reuters: FKP.AX ISIN: AU000000FKP9 SNL: FKP-ASX
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Version: May 2011
FKP Property Group
Graph 1: 12 Month Returns
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1
Company: FKP Property Group -7.05% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
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0
okt-
10
no
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3 FKP Property Group
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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3 FKP Property Group v. Asia Correlation FKP Property Group v. Global Correlation
FKP Property Group v. Australia Correlation FKP Property Group v. Equities
FKP Property Group v. Bonds
Bloomberg: GMG AU Reuters: GMG.AX ISIN: AU000000GMG2 SNL: GMG-ASX
17
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Goodman Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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Company: Goodman Group * 16.67% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Industrial 23.04%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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c-1
0
jan
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feb
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3 Goodman Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
3 Goodman Group * v. Asia Correlation Goodman Group * v. Global Correlation
Goodman Group * v. Australia Correlation Goodman Group * v. Equities
Goodman Group * v. Bonds
Bloomberg: GPT AU Reuters: GPT.AX ISIN: AU000000GPT8 SNL: GPT-ASX
18
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
GPT Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: GPT Group * 18.18% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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3 GPT Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 GPT Group * v. Asia Correlation GPT Group * v. Global Correlation
GPT Group * v. Australia Correlation GPT Group * v. Equities
GPT Group * v. Bonds
Bloomberg: IOF AU Reuters: IOF.AX ISIN: AU000000IOF6 SNL: IOF-ASX
19
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
ING Office Fund *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: ING Office Fund * 11.4% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 ING Office Fund *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 ING Office Fund * v. Asia Correlation ING Office Fund * v. Global Correlation
ING Office Fund * v. Australia Correlation ING Office Fund * v. Equities
ING Office Fund * v. Bonds
Bloomberg: MCW AU Reuters: MCW.AX ISIN: AU000000CQR9 SNL: MCW-ASX
20
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Macquarie Countrywide *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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Company: Macquarie Countrywide * 24.86%
Country Index: Australia 14.49%
Regional Index: Asia 7.7%
Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66%
REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29%
Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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jan
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3 Macquarie Countrywide *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
3 Macquarie Countrywide * v. Asia Correlation Macquarie Countrywide * v. Global Correlation
Macquarie Countrywide * v. Australia Correlation Macquarie Countrywide * v. Equities
Macquarie Countrywide * v. Bonds
Bloomberg: MOF AU Reuters: MOF.AX ISIN: AU000000CQO6 SNL: MOF-ASX
21
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Macquarie Office Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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Company: Macquarie Office Trust * 36.23% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
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3 Macquarie Office Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 Macquarie Office Trust * v. Asia Correlation Macquarie Office Trust * v. Global Correlation
Macquarie Office Trust * v. Australia Correlation Macquarie Office Trust * v. Equities
Macquarie Office Trust * v. Bonds
Bloomberg: MGR AU Reuters: MGR.AX ISIN: AU000000MGR9 SNL: MGR-ASX
22
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mirvac Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Company: Mirvac Group * -2.67% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
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3 Mirvac Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
1
me
i-1
1
3 Mirvac Group * v. Asia Correlation Mirvac Group * v. Global Correlation
Mirvac Group * v. Australia Correlation Mirvac Group * v. Equities
Mirvac Group * v. Bonds
Bloomberg: SGP AU Reuters: SGP.AX ISIN: AU000000SGP0 SNL: SGP-ASX
23
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Stockland Trust Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
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Company: Stockland Trust Group * -9.25% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 Stockland Trust Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
1
me
i-1
1
3 Stockland Trust Group * v. Asia Correlation Stockland Trust Group * v. Global Correlation
Stockland Trust Group * v. Australia Correlation Stockland Trust Group * v. Equities
Stockland Trust Group * v. Bonds
Bloomberg: WDC AU Reuters: WDC.AX ISIN: AU000000WDC7 SNL: WDC-ASX
24
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Westfield Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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i-1
1
Company: Westfield Group * -4.61% Country Index: Australia 14.49%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: ASX 6.29% Bond Index: JPMTAUST 5.68%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Westfield Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
1
me
i-1
1
3 Westfield Group * v. Asia Correlation Westfield Group * v. Global Correlation
Westfield Group * v. Australia Correlation Westfield Group * v. Equities
Westfield Group * v. Bonds
Bloomberg: WRT AU Reuters: WRT.AX ISIN: AU000000WRT1 SNL: WRT-ASX
25
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Westfield Retail Trust *
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Company: #DIV/0! Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Westfield Retail Trust
Graph 3: Correlations
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 #N/A Westfield Retail Trust v. Global Correlation
Westfield Retail Trust v. Australia Correlation Westfield Retail Trust v. Equities
Westfield Retail Trust v. Bonds
Section 1.2
26
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hong Kong
Bloomberg: 3383 HK Reuters: 3383.HK ISIN: KYG011981035 SNL: 3383-HKG
27
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Agile Property Holdings
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: Agile Property Holdings 59.67%
Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7%
Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92%
REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83%
Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Agile Property Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
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-11
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me
i-1
1
3 Agile Property Holdings v. Asia Correlation Agile Property Holdings v. Global Correlation
Agile Property Holdings v. Hong Kong Correlation Agile Property Holdings v. Equities
Agile Property Holdings v. Bonds
Bloomberg: 2778 HK Reuters: 2778.HK ISIN: HK2778034606 SNL: 2778-HKG
28
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Champion REIT *
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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Company: Champion REIT * 24.37% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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jul-1
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3 Champion REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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10
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3 Champion REIT * v. Asia Correlation Champion REIT * v. Global Correlation
Champion REIT * v. Hong Kong Correlation Champion REIT * v. Equities
Champion REIT * v. Bonds
Bloomberg: 688 HK Reuters: 0688.HK ISIN: HK0688002218 SNL: 0688-HKG
29
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
China Overseas Land
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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jul-1
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g-1
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Company: China Overseas Land 5.86% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Residential -13.73%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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10
no
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3 China Overseas Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
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10
no
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3 China Overseas Land v. Asia Correlation China Overseas Land v. Global Correlation
China Overseas Land v. Hong Kong Correlation China Overseas Land v. Equities
China Overseas Land v. Bonds
Bloomberg: 1109 HK Reuters: 1109.HK ISIN: KYG2108Y1052 SNL: 1109-HKG
30
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
China Resources Land
Graph 1: 12 Month Returns
0
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1,200
1,400
me
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g-1
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Company: China Resources Land -5.03% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Residential -13.73%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
0
jun
-10
jul-1
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g-1
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se
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3 China Resources Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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10
no
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3 China Resources Land v. Asia Correlation China Resources Land v. Global Correlation
China Resources Land v. Hong Kong Correlation China Resources Land v. Equities
China Resources Land v. Bonds
Bloomberg: 2007 HK Reuters: 2007.HK ISIN: KYG245241032 SNL: 2007-HKG
31
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Country Garden Holdings
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
1,600
me
i-1
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-10
jul-1
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Company: Country Garden Holdings 52.21% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
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3 Country Garden Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
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-10
jul-1
0
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g-1
0
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3 Country Garden Holdings v. Asia Correlation Country Garden Holdings v. Global Correlation
Country Garden Holdings v. Hong Kong Correlation Country Garden Holdings v. Equities
Country Garden Holdings v. Bonds
Bloomberg: 101 HK Reuters: 0101.HK ISIN: HK0101000591 SNL: 0101-HKG
32
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hang Lung Properties
Graph 1: 12 Month Returns
0
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1,400
1,600
me
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-10
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Company: Hang Lung Properties 18.25% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
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-10
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3 Hang Lung Properties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
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10
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3 Hang Lung Properties v. Asia Correlation Hang Lung Properties v. Global Correlation
Hang Lung Properties v. Hong Kong Correlation Hang Lung Properties v. Equities
Hang Lung Properties v. Bonds
Bloomberg: 12 HK Reuters: 0012.HK ISIN: HK0012000102 SNL: 0012-HKG
33
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Henderson Land Dev
Graph 1: 12 Month Returns
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1,400
me
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Company: Henderson Land Dev 13.92% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
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3 Henderson Land Dev
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
0
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10
no
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3 Henderson Land Dev v. Asia Correlation Henderson Land Dev v. Global Correlation
Henderson Land Dev v. Hong Kong Correlation Henderson Land Dev v. Equities
Henderson Land Dev v. Bonds
Bloomberg: 754 HK Reuters: 0754.HK ISIN: BMG4600H1016 SNL: 0754-HKG
34
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hopson Development
Graph 1: 12 Month Returns
0
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1,400
me
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Company: Hopson Development -25.75%
Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7%
Sector Index: Residential -13.73%
Investment Focus Index: Non-Rental 0.92%
REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83%
Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
1%
2%
2%
3%
me
i-1
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3 Hopson Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
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10
no
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3 Hopson Development v. Asia Correlation Hopson Development v. Global Correlation
Hopson Development v. Hong Kong Correlation Hopson Development v. Equities
Hopson Development v. Bonds
Bloomberg: 14 HK Reuters: 0014.HK ISIN: HK0014000126 SNL: 0014-HKG
35
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hysan Development
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
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g-1
0
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p-1
0
okt-
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Company: Hysan Development 89.85% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
0
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-10
jul-1
0
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g-1
0
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3 Hysan Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
se
p-1
0
okt-
10
no
v-1
0
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3 Hysan Development v. Asia Correlation Hysan Development v. Global Correlation
Hysan Development v. Hong Kong Correlation Hysan Development v. Equities
Hysan Development v. Bonds
Bloomberg: 683 HK Reuters: 0683.HK ISIN: BMG524401079 SNL: 0683-HKG
36
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kerry Properties
Graph 1: 12 Month Returns
0
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800
1,000
1,200
1,400
me
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0
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g-1
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10
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Company: Kerry Properties 22.15% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
0
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-10
jul-1
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g-1
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p-1
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10
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3 Kerry Properties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
0
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10
no
v-1
0
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1
3 Kerry Properties v. Asia Correlation Kerry Properties v. Global Correlation
Kerry Properties v. Hong Kong Correlation Kerry Properties v. Equities
Kerry Properties v. Bonds
Bloomberg: 1813 HK Reuters: 1813.HK ISIN: KYG532241042 SNL: 1813-HKG
37
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
KWG Property Holdings
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
i-1
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jul-1
0
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g-1
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p-1
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okt-
10
no
v-1
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jan
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1
Company: KWG Property Holdings 26.36%
Country Index: #N/A
Regional Index: Asia 7.7%
Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92%
REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83%
Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
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okt-
10
no
v-1
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3 KWG Property Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
v-1
0
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3 KWG Property Holdings v. Asia Correlation KWG Property Holdings v. Global Correlation
KWG Property Holdings v. Hong Kong Correlation KWG Property Holdings v. Equities
KWG Property Holdings v. Bonds
Bloomberg: 823 HK Reuters: 0823.HK ISIN: HK0823032773 SNL: 0823-HKG
38
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Link REIT *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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i-1
1
Company: Link REIT * 40.99% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
me
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jun
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jul-1
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g-1
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3 Link REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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no
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3 Link REIT * v. Asia Correlation Link REIT * v. Global Correlation
Link REIT * v. Hong Kong Correlation Link REIT * v. Equities
Link REIT * v. Bonds
Bloomberg: 917 HK Reuters: 0917.HK ISIN: KYG6493A1013 SNL: 0917-HKG
39
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
New World China Land
Graph 1: 12 Month Returns
0
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600
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1,000
1,200
1,400
me
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-10
jul-1
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g-1
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okt-
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Company: New World China Land 17.62% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
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jul-1
0
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g-1
0
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3 New World China Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
-10
jul-1
0
au
g-1
0
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10
no
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3 New World China Land v. Asia Correlation New World China Land v. Global Correlation
New World China Land v. Hong Kong Correlation New World China Land v. Equities
New World China Land v. Bonds
Bloomberg: 17 HK Reuters: 0017.HK ISIN: HK0017000149 SNL: 0017-HKG
40
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
New World Development
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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0
okt-
10
no
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jan
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Company: New World Development 6.59% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
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0
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10
no
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jan
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3 New World Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
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10
no
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0
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jan
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3 New World Development v. Asia Correlation New World Development v. Global Correlation
New World Development v. Hong Kong Correlation New World Development v. Equities
New World Development v. Bonds
Bloomberg: 604 HK Reuters: 0604.HK ISIN: HK0604011236 SNL: 0604-HKG
41
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Shenzhen Investment
Graph 1: 12 Month Returns
0
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1,000
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1,400
me
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Company: Shenzhen Investment 6.55% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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jul-1
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3 Shenzhen Investment
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
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10
no
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3 Shenzhen Investment v. Asia Correlation Shenzhen Investment v. Global Correlation
Shenzhen Investment v. Hong Kong Correlation Shenzhen Investment v. Equities
Shenzhen Investment v. Bonds
Bloomberg: 813 HK Reuters: 0813.HK ISIN: KYG810431042 SNL: 0813-HKG
42
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Shimao Property Holdings
Graph 1: 12 Month Returns
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1,000
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1,400
me
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jul-1
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Company: Shimao Property Holdings -11.15%
Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7%
Sector Index: Residential -13.73%
Investment Focus Index: Non-Rental 0.92%
REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83%
Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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0
jun
-10
jul-1
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g-1
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3 Shimao Property Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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3 Shimao Property Holdings v. Asia Correlation
Shimao Property Holdings v. Global CorrelationShimao Property Holdings v. Hong Kong Correlation
Shimao Property Holdings v. EquitiesShimao Property Holdings v. Bonds
Bloomberg: 272 HK Reuters: 0272.HK ISIN: KYG811511131 SNL: 0272-HKG
43
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Shui On Land
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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g-1
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10
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Company: Shui On Land 0.29% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
me
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3 Shui On Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
0
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no
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3 Shui On Land v. Asia Correlation Shui On Land v. Global Correlation
Shui On Land v. Hong Kong Correlation Shui On Land v. Equities
Shui On Land v. Bonds
Bloomberg: 83 HK Reuters: 0083.HK ISIN: HK0083000502 SNL: 0083-HKG
44
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sino Land
Graph 1: 12 Month Returns
0
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800
1,000
1,200
1,400
me
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jul-1
0
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g-1
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p-1
0
okt-
10
no
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Company: Sino Land 6.88% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
me
i-1
0
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jul-1
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g-1
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3 Sino Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
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10
no
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3 Sino Land v. Asia Correlation Sino Land v. Global Correlation
Sino Land v. Hong Kong Correlation Sino Land v. Equities
Sino Land v. Bonds
Bloomberg: 410 HK Reuters: 0410.HK ISIN: KYG826001003 SNL: 0410-HKG
45
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Soho China Ltd.
Graph 1: 12 Month Returns
0
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800
1,000
1,200
1,400
1,600
1,800
me
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g-1
0
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Company: Soho China Ltd. 63.02% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
me
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3 Soho China Ltd.
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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g-1
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3 Soho China Ltd. v. Asia Correlation Soho China Ltd. v. Global Correlation
Soho China Ltd. v. Hong Kong Correlation Soho China Ltd. v. Equities
Soho China Ltd. v. Bonds
Bloomberg: 16 HK Reuters: 0016.HK ISIN: HK0016000132 SNL: 0016-HKG
46
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sun Hung Kai Props
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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Company: Sun Hung Kai Props 17.92% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
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3 Sun Hung Kai Props
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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g-1
0
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3 Sun Hung Kai Props v. Asia Correlation Sun Hung Kai Props v. Global Correlation
Sun Hung Kai Props v. Hong Kong Correlation Sun Hung Kai Props v. Equities
Sun Hung Kai Props v. Bonds
Bloomberg: 4 HK Reuters: 0004.HK ISIN: HK0004000045 SNL: 0004-HKG
47
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Wharf Holdings
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
1,800
me
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-10
jul-1
0
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g-1
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p-1
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okt-
10
no
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jan
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Company: Wharf Holdings 52.16% Country Index: Hong Kong 8.3%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Hang Seng 19.83% Bond Index: JPMTHK 2.39%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
0
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-10
jul-1
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g-1
0
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p-1
0
okt-
10
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v-1
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jan
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3 Wharf Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
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jul-1
0
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g-1
0
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p-1
0
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jan
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3 Wharf Holdings v. Asia Correlation Wharf Holdings v. Global Correlation
Wharf Holdings v. Hong Kong Correlation Wharf Holdings v. Equities
Wharf Holdings v. Bonds
Section 1.3
48
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Japan
Bloomberg: 8905 JP Reuters: 8905.T ISIN: JP3131430005 SNL: 8905-TKS
49
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Aeon Mall Co ltd
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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g-1
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10
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Company: Aeon Mall Co ltd 3.87% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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v-1
0
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c-1
0
jan
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3 Aeon Mall Co ltd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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ap
r-1
1
me
i-1
1
3 Aeon Mall Co ltd v. Asia Correlation Aeon Mall Co ltd v. Global Correlation
Aeon Mall Co ltd v. Japan Correlation Aeon Mall Co ltd v. Equities
Aeon Mall Co ltd v. Bonds
Bloomberg: 8955 JP Reuters: 8955.T ISIN: JP3040890000 SNL: 8955-TKS
50
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Japan Prime Realty Inv. *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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r-1
1
me
i-1
1
Company: Japan Prime Realty Inv. * 13.54% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
3 Japan Prime Realty Inv. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
3 Japan Prime Realty Inv. * v. Asia Correlation Japan Prime Realty Inv. * v. Global Correlation
Japan Prime Realty Inv. * v. Japan Correlation Japan Prime Realty Inv. * v. Equities
Japan Prime Realty Inv. * v. Bonds
Bloomberg: 8952 JP Reuters: 8952.T ISIN: JP3027680002 SNL: 8952-TKS
51
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Japan Real Estate *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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r-1
1
me
i-1
1
Company: Japan Real Estate * 7.59% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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i-1
1
3 Japan Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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r-1
1
me
i-1
1
3 Japan Real Estate * v. Asia Correlation Japan Real Estate * v. Global Correlation
Japan Real Estate * v. Japan Correlation Japan Real Estate * v. Equities
Japan Real Estate * v. Bonds
Bloomberg: 8953 JP Reuters: 8953.T ISIN: JP3039710003 SNL: 8953-TKS
52
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Japan Retail Fund *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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i-1
1
Company: Japan Retail Fund * 20.42% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
1
me
i-1
1
3 Japan Retail Fund *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Japan Retail Fund * v. Asia Correlation Japan Retail Fund * v. Global Correlation
Japan Retail Fund * v. Japan Correlation Japan Retail Fund * v. Equities
Japan Retail Fund * v. Bonds
Bloomberg: 8972 JP Reuters: 8972.T ISIN: JP3046270009 SNL: 8972-TKS
53
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kenedix Realty Investment *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Company: Kenedix Realty Investment * 26.23% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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1
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i-1
1
3 Kenedix Realty Investment *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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1
me
i-1
1
3 Kenedix Realty Investment * v. Asia Correlation Kenedix Realty Investment * v. Global Correlation
Kenedix Realty Investment * v. Japan Correlation Kenedix Realty Investment * v. Equities
Kenedix Realty Investment * v. Bonds
Bloomberg: 8802 JP Reuters: 8802.T ISIN: JP3899600005 SNL: 8802-TKS
54
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mitsubishi Estate
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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feb
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1
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i-1
1
Company: Mitsubishi Estate 4.03% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
me
i-1
1
3 Mitsubishi Estate
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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r-1
1
me
i-1
1
3 Mitsubishi Estate v. Asia Correlation Mitsubishi Estate v. Global Correlation
Mitsubishi Estate v. Japan Correlation Mitsubishi Estate v. Equities
Mitsubishi Estate v. Bonds
Bloomberg: 8801 JP Reuters: 8801.T ISIN: JP3893200000 SNL: 8801-TKS
55
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mitsui Fudosan
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
0
okt-
10
no
v-1
0
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jan
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i-1
1
Company: Mitsui Fudosan -1.73% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
me
i-1
1
3 Mitsui Fudosan
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
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-11
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r-1
1
me
i-1
1
3 Mitsui Fudosan v. Asia Correlation Mitsui Fudosan v. Global Correlation
Mitsui Fudosan v. Japan Correlation Mitsui Fudosan v. Equities
Mitsui Fudosan v. Bonds
Bloomberg: 8961 JP Reuters: 8961.T ISIN: JP3046170001 SNL: 8961-TKS
56
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mori Trust Sogo REIT *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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r-1
1
me
i-1
1
Company: Mori Trust Sogo REIT * 21.52% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
1
me
i-1
1
3 Mori Trust Sogo REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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1
me
i-1
1
3 Mori Trust Sogo REIT * v. Asia Correlation Mori Trust Sogo REIT * v. Global Correlation
Mori Trust Sogo REIT * v. Japan Correlation Mori Trust Sogo REIT * v. Equities
Mori Trust Sogo REIT * v. Bonds
Bloomberg: 8951 JP Reuters: 8951.T ISIN: JP3027670003 SNL: 8951-TKS
57
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Nippon Building Fund *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
Company: Nippon Building Fund * 12.6% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Nippon Building Fund *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Nippon Building Fund * v. Asia Correlation Nippon Building Fund * v. Global Correlation
Nippon Building Fund * v. Japan Correlation Nippon Building Fund * v. Equities
Nippon Building Fund * v. Bonds
Bloomberg: 3231 JP Reuters: 3231.T ISIN: JP3762900003 SNL: 3231-TKS
58
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Nomura Real Estate Holdings
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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r-1
1
me
i-1
1
Company: Nomura Real Estate Holdings -0.87% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Nomura Real EstateHoldings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Nomura Real Estate Holdings v. Asia Correlation Nomura Real Estate Holdings v. Global Correlation
Nomura Real Estate Holdings v. Japan Correlation Nomura Real Estate Holdings v. Equities
Nomura Real Estate Holdings v. Bonds
Bloomberg: 8959 JP Reuters: 8959.T ISIN: JP3045530007 SNL: 8959-TKS
59
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Nomura Real Estate Office Fund *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Company: Nomura Real Estate Office Fund * 18.13%Country Index: Japan 2.87%Regional Index: Asia 7.7%Sector Index: Office 19.67%Investment Focus Index: Rental 18.66%REIT-Structure Index: REIT 15.37%Blue Chip Index: Nikkei 225 -0.77%Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Nomura Real Estate Office Fund *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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ap
r-1
1
me
i-1
1
3 Nomura Real Estate Office Fund * v. Asia Correlation
Nomura Real Estate Office Fund * v. Global Correlation
Nomura Real Estate Office Fund * v. Japan Correlation
Nomura Real Estate Office Fund * v. Equities
Nomura Real Estate Office Fund * v. Bonds
Bloomberg: 8933 JP Reuters: 8933.T ISIN: JP3165690003 SNL: 8933-TKS
60
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
NTT Urban Development
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: NTT Urban Development -9.02% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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r-1
1
me
i-1
1
3 NTT Urban Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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me
i-1
1
3 NTT Urban Development v. Asia Correlation NTT Urban Development v. Global Correlation
NTT Urban Development v. Japan Correlation NTT Urban Development v. Equities
NTT Urban Development v. Bonds
Bloomberg: 8954 JP Reuters: 8954.T ISIN: JP3040880001 SNL: 8954-TKS
61
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
ORIX JREIT *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: ORIX JREIT * 10% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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r-1
1
me
i-1
1
3 ORIX JREIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
3 ORIX JREIT * v. Asia Correlation ORIX JREIT * v. Global Correlation
ORIX JREIT * v. Japan Correlation ORIX JREIT * v. Equities
ORIX JREIT * v. Bonds
Bloomberg: 8956 JP Reuters: 8956.T ISIN: JP3041770003 SNL: 8956-TKS
62
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Premier Investment Co. *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
Company: Premier Investment Co. * 3.05% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Premier Investment Co. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Premier Investment Co. * v. Asia Correlation Premier Investment Co. * v. Global Correlation
Premier Investment Co. * v. Japan Correlation Premier Investment Co. * v. Equities
Premier Investment Co. * v. Bonds
Bloomberg: 8830 JP Reuters: 8830.T ISIN: JP3409000001 SNL: 8830-TKS
63
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sumitomo Realty & Dev
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Sumitomo Realty & Dev 6.21% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Sumitomo Realty & Dev
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Sumitomo Realty & Dev v. Asia Correlation Sumitomo Realty & Dev v. Global Correlation
Sumitomo Realty & Dev v. Japan Correlation Sumitomo Realty & Dev v. Equities
Sumitomo Realty & Dev v. Bonds
Bloomberg: 8804 JP Reuters: 8804.T ISIN: JP3582600007 SNL: 8804-TKS
64
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Tokyo Tatemono
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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r-1
1
me
i-1
1
Company: Tokyo Tatemono -13.57% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
3 Tokyo Tatemono
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Tokyo Tatemono v. Asia Correlation Tokyo Tatemono v. Global Correlation
Tokyo Tatemono v. Japan Correlation Tokyo Tatemono v. Equities
Tokyo Tatemono v. Bonds
Bloomberg: 8815 JP Reuters: 8815.T ISIN: JP3569000007 SNL: 8815-TKS
65
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Tokyu Land
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Tokyu Land 9.76% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Tokyu Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Tokyu Land v. Asia Correlation Tokyu Land v. Global Correlation
Tokyu Land v. Japan Correlation Tokyu Land v. Equities
Tokyu Land v. Bonds
Bloomberg: 8957 JP Reuters: 8957.T ISIN: JP3044510000 SNL: 8957-TKS
66
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Tokyu REIT *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Tokyu REIT * 10.91% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Tokyu REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Tokyu REIT * v. Asia Correlation Tokyu REIT * v. Global Correlation
Tokyu REIT * v. Japan Correlation Tokyu REIT * v. Equities
Tokyu REIT * v. Bonds
Bloomberg: 8982 JP Reuters: 8982.T ISIN: JP3046370007 SNL: 8982-TKS
67
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Top REIT *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Top REIT * 12.33% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Top REIT * -4.49%
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Top REIT * v. Asia Correlation
Bloomberg: 8960 JP Reuters: 8960.T ISIN: JP3045540006 SNL: 8960-TKS
68
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
United Urban Investment *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: United Urban Investment * 4.35% Country Index: Japan 2.87%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: Nikkei 225 -0.77% Bond Index: JPMTJPN 1.7%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 United Urban Investment *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 United Urban Investment * v. Asia Correlation United Urban Investment * v. Global Correlation
United Urban Investment * v. Japan Correlation United Urban Investment * v. Equities
United Urban Investment * v. Bonds
Section 1.4
69
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
New Zealand
Bloomberg: KIP NZ Reuters: KIP.NZ ISIN: NZKIPE0001S5 SNL: KIP-NZE
70
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kiwi Income Property Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Kiwi Income Property Trust * 14.29% Country Index: New Zealand 32.81%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: #N/A Bond Index: JPMTNZ 7.76%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Kiwi Income Property Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Kiwi Income Property Trust * v. Asia Correlation Kiwi Income Property Trust * v. Global Correlation
Kiwi Income Property Trust * v. Equities Kiwi Income Property Trust * v. Bonds
Section 1.5
71
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Singapore
Bloomberg: AG SP Reuters: AEMN.SI ISIN: SG1G61871305 SNL: A16-SES
72
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Allgreen Properties
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Allgreen Properties 58.42% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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3 Allgreen Properties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
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0.40
0.60
0.80
1.00
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3 Allgreen Properties v. Asia Correlation Allgreen Properties v. Global Correlation
Allgreen Properties v. Singapore Correlation Allgreen Properties v. Equities
Allgreen Properties v. Bonds
Bloomberg: AREIT SP Reuters: AREIT.SI ISIN: SG1M77906915 SNL: A17U-SES
73
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ascendas REIT *
Graph 1: 12 Month Returns
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Company: Ascendas REIT * 9.57% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Industrial 23.04%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
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3 Ascendas REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Ascendas REIT * v. Asia Correlation Ascendas REIT * v. Global Correlation
Ascendas REIT * v. Singapore Correlation Ascendas REIT * v. Equities
Ascendas REIT * v. Bonds
Bloomberg: CCT SP Reuters: CACT.SI ISIN: SG1P32918333 SNL: C61U-SES
74
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CapitaCommercial Trust *
Graph 1: 12 Month Returns
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Company: CapitaCommercial Trust * 28.95% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
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6%
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3 CapitaCommercial Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
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0.40
0.60
0.80
1.00
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3 CapitaCommercial Trust * v. Asia Correlation CapitaCommercial Trust * v. Global Correlation
CapitaCommercial Trust * v. Singapore Correlation CapitaCommercial Trust * v. Equities
CapitaCommercial Trust * v. Bonds
Bloomberg: CAPL SP Reuters: CATL.SI ISIN: SG1J27887962 SNL: C31-SES
75
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Capitaland
Graph 1: 12 Month Returns
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Company: Capitaland -13.69% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
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3 Capitaland
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Capitaland v. Asia Correlation Capitaland v. Global Correlation
Capitaland v. Singapore Correlation Capitaland v. Equities
Capitaland v. Bonds
Bloomberg: CT SP Reuters: CMLT.SI ISIN: SG1M51904654 SNL: C38U-SES
76
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Capitamall Trust *
Graph 1: 12 Month Returns
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Company: Capitamall Trust * 9.89% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
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3 Capitamall Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Capitamall Trust * v. Asia Correlation Capitamall Trust * v. Global Correlation
Capitamall Trust * v. Singapore Correlation Capitamall Trust * v. Equities
Capitamall Trust * v. Bonds
Bloomberg: CMA SP Reuters: CMAL.SI ISIN: SG1Z05950543 SNL: JS8-SES
77
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CapitaMalls Asia
Graph 1: 12 Month Returns
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Company: CapitaMalls Asia -23.81% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Retail 8.55%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
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1%
1%
1%
1%
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3 CapitaMalls Asia
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 CapitaMalls Asia v. Asia Correlation CapitaMalls Asia v. Global Correlation
CapitaMalls Asia v. Singapore Correlation CapitaMalls Asia v. Equities
CapitaMalls Asia v. Bonds
Bloomberg: CDREIT SP Reuters: CDREIT.SI ISIN: SG1T66931158 SNL: -NA-
78
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CDL Hospitality Trusts
Graph 1: 12 Month Returns
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Company: CDL Hospitality Trusts 25.76% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: #N/A
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
-1%
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5%
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3 CDL Hospitality Trusts
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 CDL Hospitality Trusts v. Asia Correlation CDL Hospitality Trusts v. Global Correlation
CDL Hospitality Trusts v. Singapore Correlation CDL Hospitality Trusts v. Equities
CDL Hospitality Trusts v. Bonds
Bloomberg: CIT SP Reuters: CIT.SI ISIN: SG1R89002252 SNL: C09-SES
79
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
City Developments
Graph 1: 12 Month Returns
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Company: City Developments 12.34% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
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3 City Developments
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
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3 City Developments v. Asia Correlation City Developments v. Global Correlation
City Developments v. Singapore Correlation City Developments v. Equities
City Developments v. Bonds
Bloomberg: GLP SP Reuters: GLP.SI ISIN: SG2C26962630 SNL: -NA-
80
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Global Logistic Properties
Graph 1: 12 Month Returns
0
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Company: #DIV/0! Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
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3 Global Logistic Properties
Graph 3: Correlations
-1.00
-0.80
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-0.40
-0.20
0.00
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0.60
0.80
1.00
me
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3 Global Logistic Properties v. Asia Correlation Global Logistic Properties v. Global Correlation
Global Logistic Properties v. Singapore Correlation Global Logistic Properties v. Equities
Global Logistic Properties v. Bonds
Bloomberg: HKL SP Reuters: HKLD.SI ISIN: BMG4587L1090 SNL: H78-SES
81
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hongkong Land Hldgs
Graph 1: 12 Month Returns
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1,800
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Company: Hongkong Land Hldgs 55.02% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Office 19.67%
Investment Focus Index: Rental 18.66% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
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3.0%
3.5%
4.0%
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3 Hongkong Land Hldgs
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Hongkong Land Hldgs v. Asia Correlation Hongkong Land Hldgs v. Global Correlation
Hongkong Land Hldgs v. Singapore Correlation Hongkong Land Hldgs v. Equities
Hongkong Land Hldgs v. Bonds
Bloomberg: KPLD SP Reuters: KLAN.SI ISIN: SG1R31002210 SNL: K17-SES
82
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Keppel Land
Graph 1: 12 Month Returns
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Company: Keppel Land 19.98% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
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3 Keppel Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
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0.60
0.80
1.00
me
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3 Keppel Land v. Asia Correlation Keppel Land v. Global Correlation
Keppel Land v. Singapore Correlation Keppel Land v. Equities
Keppel Land v. Bonds
Bloomberg: MLT SP Reuters: MAPL.SI ISIN: SG1S03926213 SNL: M44U-SES
83
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mapletree Logistics Trust *
Graph 1: 12 Month Returns
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Company: Mapletree Logistics Trust * 14.29% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Industrial 23.04%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
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jul-1
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3 Mapletree Logistics Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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-10
jul-1
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g-1
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3 Mapletree Logistics Trust * v. Asia Correlation Mapletree Logistics Trust * v. Global Correlation
Mapletree Logistics Trust * v. Singapore Correlation Mapletree Logistics Trust * v. Equities
Mapletree Logistics Trust * v. Bonds
Bloomberg: SUN SP Reuters: SUNT.SI ISIN: SG1Q52922370 SNL: T82U-SES
84
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Suntec REIT *
Graph 1: 12 Month Returns
0
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1,400
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Company: Suntec REIT * 19.84% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Rental 18.66% REIT-Structure Index: REIT 15.37%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Suntec REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Suntec REIT * v. Asia Correlation Suntec REIT * v. Global Correlation
Suntec REIT * v. Singapore Correlation Suntec REIT * v. Equities
Suntec REIT * v. Bonds
Bloomberg: WINGT SP Reuters: WTHS.SI ISIN: SG1K66001688 SNL: W05-SES
85
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Wing Tai Holdings
Graph 1: 12 Month Returns
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1,400
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Company: Wing Tai Holdings 1.95% Country Index: Singapore 3.66%
Regional Index: Asia 7.7% Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92% REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
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jun
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3 Wing Tai Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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3 Wing Tai Holdings v. Asia Correlation Wing Tai Holdings v. Global Correlation
Wing Tai Holdings v. Singapore Correlation Wing Tai Holdings v. Equities
Wing Tai Holdings v. Bonds
Bloomberg: YLLG SP Reuters: YNLG.SI ISIN: SG1T57930854 SNL: Z25-SES
86
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Yanlord Land Group
Graph 1: 12 Month Returns
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1,200
1,400
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Company: Yanlord Land Group -18.29%
Country Index: Singapore 3.66%
Regional Index: Asia 7.7%
Sector Index: Diversified 6.17%
Investment Focus Index: Non-Rental 0.92%
REIT-Structure Index: Non-REIT 3.23%
Blue Chip Index: STI 14.8%
Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
me
i-1
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jun
-10
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g-1
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3 Yanlord Land Group
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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g-1
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3 Yanlord Land Group v. Asia Correlation Yanlord Land Group v. Global Correlation
Yanlord Land Group v. Singapore Correlation Yanlord Land Group v. Equities
Yanlord Land Group v. Bonds
Section 2
87
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Developed Europe
Section 2.1
88
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Austria
Bloomberg: CAI AV Reuters: CAIV.VI ISIN: AT0000641352 SNL: CAI-WBO
89
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CA Immobilien Anlage
Graph 1: 12 Month Returns
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1,800
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Company: CA Immobilien Anlage 59.14% Country Index: Austria 49.24%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: #N/A Bond Index: JPMTAI 0.1%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
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-10
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g-1
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3 CA Immobilien Anlage
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
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-10
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0
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g-1
0
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3 CA Immobilien Anlage v. Europe Correlation CA Immobilien Anlage v. Global Correlation
CA Immobilien Anlage v. Austria Correlation CA Immobilien Anlage v. Equities
CA Immobilien Anlage v. Bonds
Bloomberg: CWI AV Reuters: CONW.VI ISIN: AT0000697750 SNL: CWI-WBO
90
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Conwert Immobilien
Graph 1: 12 Month Returns
0
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800
1,000
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1,600
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Company: Conwert Immobilien 35.48% Country Index: Austria 49.24%
Regional Index: Europe 35.67% Sector Index: Residential 31.51%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: #N/A Bond Index: JPMTAI 0.1%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
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jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
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jan
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3 Conwert Immobilien
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
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-10
jul-1
0
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g-1
0
se
p-1
0
okt-
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v-1
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jan
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3 Conwert Immobilien v. Europe Correlation Conwert Immobilien v. Global Correlation
Conwert Immobilien v. Austria Correlation Conwert Immobilien v. Equities
Conwert Immobilien v. Bonds
Section 2.2
91
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Belgium
Bloomberg: BEFB BB Reuters: BEFB.BR ISIN: BE0003678894 SNL: BEFB-BRU
92
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Befimmo *
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
i-1
0
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-10
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Company: Befimmo * 9.3% Country Index: Belgium 16%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: BEL 20 9.55% Bond Index: JPMTBE -2.43%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
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g-1
0
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p-1
0
okt-
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v-1
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3 Befimmo *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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3 Befimmo * v. Europe Correlation Befimmo * v. Global Correlation
Befimmo * v. Belgium Correlation Befimmo * v. Equities
Befimmo * v. Bonds
Bloomberg: COFB BB Reuters: COFB.BR ISIN: BE0003593044 SNL: COFB-BRU
93
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Cofinimmo *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
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-10
jul-1
0
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g-1
0
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p-1
0
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10
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v-1
0
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jan
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Company: Cofinimmo * 3.52% Country Index: Belgium 16%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: BEL 20 9.55% Bond Index: JPMTBE -2.43%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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3 Cofinimmo *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 Cofinimmo * v. Europe Correlation Cofinimmo * v. Global Correlation
Cofinimmo * v. Belgium Correlation Cofinimmo * v. Equities
Cofinimmo * v. Bonds
Bloomberg: INTO BB Reuters: PRIF.BR ISIN: BE0003746600 SNL: INTO-BRU
94
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Intervest Offices *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
0
okt-
10
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v-1
0
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c-1
0
jan
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Company: Intervest Offices * 11.32% Country Index: Belgium 16%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: BEL 20 9.55% Bond Index: JPMTBE -2.43%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
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3 Intervest Offices *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 Intervest Offices * v. Europe Correlation Intervest Offices * v. Global Correlation
Intervest Offices * v. Belgium Correlation Intervest Offices * v. Equities
Intervest Offices * v. Bonds
Bloomberg: LEAS BB Reuters: LNRE.BR ISIN: BE0003770840 SNL: LEAS-BRU
95
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Leasinvest Real Estate *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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Company: Leasinvest Real Estate * 12.66% Country Index: Belgium 16%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: BEL 20 9.55% Bond Index: JPMTBE -2.43%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
3 Leasinvest Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
3 Leasinvest Real Estate * v. Europe Correlation Leasinvest Real Estate * v. Global Correlation
Leasinvest Real Estate * v. Belgium Correlation Leasinvest Real Estate * v. Equities
Leasinvest Real Estate * v. Bonds
Bloomberg: WDP BB Reuters: WDPP.BR ISIN: BE0003763779 SNL: WDP-BRU
96
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Warehouses De Pauw *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: Warehouses De Pauw * 21.36% Country Index: Belgium 16%
Regional Index: Europe 35.67% Sector Index: Industrial 21.97%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: BEL 20 9.55% Bond Index: JPMTBE -2.43%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
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10
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3 Warehouses De Pauw *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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-10
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10
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3 Warehouses De Pauw * v. Europe Correlation Warehouses De Pauw * v. Global Correlation
Warehouses De Pauw * v. Belgium Correlation Warehouses De Pauw * v. Equities
Warehouses De Pauw * v. Bonds
Bloomberg: WEHB BB Reuters: WEHB.BR ISIN: BE0003724383 SNL: WEHB-BRU
97
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Wereldhave Belgium *
Graph 1: 12 Month Returns
0
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Company: Wereldhave Belgium * 17.36% Country Index: Belgium 16%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: BEL 20 9.55% Bond Index: JPMTBE -2.43%
Graph 2: 12 Month Dividend Yields
0%
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2%
3%
4%
5%
6%
7%
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3 Wereldhave Belgium *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Wereldhave Belgium * v. Europe Correlation Wereldhave Belgium * v. Global Correlation
Wereldhave Belgium * v. Belgium Correlation Wereldhave Belgium * v. Equities
Wereldhave Belgium * v. Bonds
Section 2.3
98
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Finland
Bloomberg: CTY1S FH Reuters: CTY1S.HE ISIN: FI0009002471 SNL: CTY1S-HEL
99
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Citycon OYJ
Graph 1: 12 Month Returns
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Company: Citycon OYJ 33.81% Country Index: Finland 44.66%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: HEX 25 20.09% Bond Index: JPMTFIN 0.01%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
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3 Citycon OYJ
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Citycon OYJ v. Europe Correlation Citycon OYJ v. Global Correlation
Citycon OYJ v. Finland Correlation Citycon OYJ v. Equities
Citycon OYJ v. Bonds
Bloomberg: SDA1V FH Reuters: SDA1V.HE ISIN: FI0009006829 SNL: SDA1V-HEL
100
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sponda
Graph 1: 12 Month Returns
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Company: Sponda 50.92% Country Index: Finland 44.66%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: HEX 25 20.09% Bond Index: JPMTFIN 0.01%
Graph 2: 12 Month Dividend Yields
0%
1%
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3%
4%
5%
6%
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3 Sponda
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Sponda v. Europe Correlation Sponda v. Global Correlation
Sponda v. Finland Correlation Sponda v. Equities
Sponda v. Bonds
Bloomberg: TPS1V FH Reuters: TPS1V.HE ISIN: FI0009006886 SNL: TPS1V-HEL
101
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Technopolis
Graph 1: 12 Month Returns
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Company: Technopolis 20.44% Country Index: Finland 44.66%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: HEX 25 20.09% Bond Index: JPMTFIN 0.01%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
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3 Technopolis
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Technopolis v. Europe Correlation Technopolis v. Global Correlation
Technopolis v. Finland Correlation Technopolis v. Equities
Technopolis v. Bonds
Section 2.4
102
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
France
Bloomberg: IML FP Reuters: BTPP.PA ISIN: FR0000036105 SNL: IML-PAR
103
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Affine *
Graph 1: 12 Month Returns
0
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-10
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Company: Affine * 24.86% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
me
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-10
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jan
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3 Affine *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
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-10
jul-1
0
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g-1
0
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0
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3 Affine * v. Europe Correlation Affine * v. Global Correlation
Affine * v. France Correlation Affine * v. Equities
Affine * v. Bonds
Bloomberg: FDR FP Reuters: FDR.PA ISIN: FR0000064578 SNL: FDR-PAR
104
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Fonciere Des Regions *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
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1,600
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-10
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Company: Fonciere Des Regions * 3% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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-10
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3 Fonciere Des Regions *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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-10
jul-1
0
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g-1
0
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0
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3 Fonciere Des Regions * v. Europe Correlation Fonciere Des Regions * v. Global Correlation
Fonciere Des Regions * v. France Correlation Fonciere Des Regions * v. Equities
Fonciere Des Regions * v. Bonds
Bloomberg: GFC FP Reuters: GFCP.PA ISIN: FR0010040865 SNL: GFC-PAR
105
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Gecina *
Graph 1: 12 Month Returns
0
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800
1,000
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-10
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Company: Gecina * 49.76% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Gecina *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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-10
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0
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g-1
0
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0
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3 Gecina * v. Europe Correlation Gecina * v. Global Correlation
Gecina * v. France Correlation Gecina * v. Equities
Gecina * v. Bonds
Bloomberg: ICAD FP Reuters: ICAD.PA ISIN: FR0000035081 SNL: ICAD-PAR
106
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Icade *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
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-10
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0
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Company: Icade * 37.99% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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jan
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3 Icade *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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0
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3 Icade * v. Europe Correlation Icade * v. Global Correlation
Icade * v. France Correlation Icade * v. Equities
Icade * v. Bonds
Bloomberg: LI FP Reuters: LOIM.PA ISIN: FR0000121964 SNL: LI-PAR
107
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Klepierre *
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
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1,600
me
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-10
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Company: Klepierre * 35.54% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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jan
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3 Klepierre *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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0
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0
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jan
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3 Klepierre * v. Europe Correlation Klepierre * v. Global Correlation
Klepierre * v. France Correlation Klepierre * v. Equities
Klepierre * v. Bonds
Bloomberg: MERY FP Reuters: MERY.PA ISIN: FR0010241638 SNL: MERY-PAR
108
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mercialys *
Graph 1: 12 Month Returns
0
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Company: Mercialys * 30% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
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0
jun
-10
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0
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jan
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3 Mercialys *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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-10
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0
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jan
-11
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3 Mercialys * v. Europe Correlation Mercialys * v. Global Correlation
Mercialys * v. France Correlation Mercialys * v. Equities
Mercialys * v. Bonds
Bloomberg: SIL FP Reuters: SILP.PA ISIN: FR0000050916 SNL: SIL-PAR
109
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Silic *
Graph 1: 12 Month Returns
0
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1,000
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Company: Silic * 28.01% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Silic *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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3 Silic * v. Europe Correlation Silic * v. Global Correlation
Silic * v. France Correlation Silic * v. Equities
Silic * v. Bonds
Bloomberg: EIFF FP Reuters: TEIF.PA ISIN: FR0000036816 SNL: EIFF-PAR
110
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Societe de la Tour Eiffel *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
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Company: Societe de la Tour Eiffel * 37.99% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
-2%
0%
2%
4%
6%
8%
10%
12%
me
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jun
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jul-1
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3 Societe de la Tour Eiffel *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
au
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0
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3 Societe de la Tour Eiffel * v. Europe Correlation Societe de la Tour Eiffel * v. Global Correlation
Societe de la Tour Eiffel * v. France Correlation Societe de la Tour Eiffel * v. Equities
Societe de la Tour Eiffel * v. Bonds
Bloomberg: UL FP Reuters: UNBP.PA ISIN: FR0000124711 SNL: UL-PAR
111
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Unibail-Rodamco *
Graph 1: 12 Month Returns
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1,600
me
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Company: Unibail-Rodamco * 40.64% Country Index: France 42.06%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: CAC 40 14.24% Bond Index: JPMTFRN -0.37%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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jun
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jul-1
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3 Unibail-Rodamco *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
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g-1
0
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10
no
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jan
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3 Unibail-Rodamco * v. Europe Correlation Unibail-Rodamco * v. Global Correlation
Unibail-Rodamco * v. France Correlation Unibail-Rodamco * v. Equities
Unibail-Rodamco * v. Bonds
Section 2.5
112
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Germany
Bloomberg: AOX GR Reuters: AOXG.F ISIN: DE000A0LD2U1 SNL: AOX-ETR
113
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Alstria Office *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
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jan
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Company: Alstria Office * 47.16% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Alstria Office *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
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3 Alstria Office * v. Europe Correlation Alstria Office * v. Global Correlation
Alstria Office * v. Germany Correlation Alstria Office * v. Equities
Alstria Office * v. Bonds
Bloomberg: KBU GR Reuters: KBUG.F ISIN: DE0006338007 SNL: KBU-ETR
114
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Colonia Real Estate
Graph 1: 12 Month Returns
0
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1,000
1,200
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Company: Colonia Real Estate 23.25% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Residential 31.51%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
me
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-10
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3 Colonia Real Estate
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
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jun
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jul-1
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au
g-1
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3 Colonia Real Estate v. Europe Correlation Colonia Real Estate v. Global Correlation
Colonia Real Estate v. Germany Correlation Colonia Real Estate v. Equities
Colonia Real Estate v. Bonds
Bloomberg: DEQ GR Reuters: DEQGn.DE ISIN: DE0007480204 SNL: DEQ-ETR
115
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Deutsche Euroshop
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
i-1
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Company: Deutsche Euroshop 26% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
i-1
0
jun
-10
jul-1
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g-1
0
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p-1
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okt-
10
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v-1
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jan
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3 Deutsche Euroshop
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
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jul-1
0
au
g-1
0
se
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0
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10
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3 Deutsche Euroshop v. Europe Correlation Deutsche Euroshop v. Global Correlation
Deutsche Euroshop v. Germany Correlation Deutsche Euroshop v. Equities
Deutsche Euroshop v. Bonds
Bloomberg: DWN GY Reuters: DWNG.F ISIN: DE000A0HN5C6 SNL: DWN-ETR
116
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Deutsche Wohnen
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
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-10
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p-1
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jan
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Company: Deutsche Wohnen 66.97% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Residential 31.51%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
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jun
-10
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g-1
0
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jan
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3 Deutsche Wohnen
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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jan
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3 Deutsche Wohnen v. Europe Correlation Deutsche Wohnen v. Global Correlation
Deutsche Wohnen v. Germany Correlation Deutsche Wohnen v. Equities
Deutsche Wohnen v. Bonds
Bloomberg: DAZ GR Reuters: DAZG.DE ISIN: DE0005098404 SNL: DAZ-ETR
117
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
DIC Asset
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
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-10
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0
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Company: DIC Asset 50% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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jun
-10
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jan
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3 DIC Asset
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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jan
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3 DIC Asset v. Europe Correlation DIC Asset v. Global Correlation
DIC Asset v. Germany Correlation DIC Asset v. Equities
DIC Asset v. Bonds
Bloomberg: GFJ GR Reuters: GFJG.DE ISIN: LU0269583422 SNL: GFJ-ETR
118
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Gagfah
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
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1,600
1,800
me
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Company: Gagfah -2.12% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Residential 31.51%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
me
i-1
0
jun
-10
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0
se
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10
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c-1
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jan
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3 Gagfah
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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jan
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3 Gagfah v. Europe Correlation Gagfah v. Global Correlation Gagfah v. Germany Correlation
Gagfah v. Equities Gagfah v. Bonds
Bloomberg: GIB GR Reuters: GIB.DE ISIN: DE000GSW1111 SNL: GIB-ETR
119
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
GSW Immobilien AG
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
Ma
y-1
0
Ju
n-1
0
Ju
l-1
0
Au
g-1
0
Se
p-1
0
Oct-
10
No
v-1
0
De
c-1
0
Ja
n-1
1
Fe
b-1
1
Ma
r-1
1
Ap
r-1
1
Ma
y-1
1
Company: #DIV/0! Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Ma
y-1
0
Ju
n-1
0
Ju
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Au
g-1
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Se
p-1
0
Oct-
10
No
v-1
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De
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n-1
1
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r-1
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3 GSW Immobilien AG
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
Ma
y-1
0
Ju
n-1
0
Ju
l-1
0
Au
g-1
0
Se
p-1
0
Oct-
10
No
v-1
0
De
c-1
0
Ja
n-1
1
Fe
b-1
1
Ma
r-1
1
Ap
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3 GSW Immobilien AG v. Europe Correlation GSW Immobilien AG v. Global Correlation
GSW Immobilien AG v. Germany Correlation GSW Immobilien AG v. Equities
GSW Immobilien AG v. Bonds
Bloomberg: P1Z GR Reuters: P1ZGn.F ISIN: DE000PAT1AG3 SNL: P1Z-ETR
120
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Patrizia Immobilien
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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Company: Patrizia Immobilien 68.73% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Residential 31.51%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
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100%
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3 Patrizia Immobilien
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
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0.60
0.80
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3 Patrizia Immobilien v. Europe Correlation Patrizia Immobilien v. Global Correlation
Patrizia Immobilien v. Germany Correlation Patrizia Immobilien v. Equities
Patrizia Immobilien v. Bonds
Bloomberg: TEG GR Reuters: TEG.F ISIN: DE0008303504 SNL: TEG-ETR
121
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
TAG Immobilien AG
Graph 1: 12 Month Returns
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Company: TAG Immobilien AG 68.49% Country Index: Germany 39.69%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: DAX 22.29% Bond Index: JPMTWG -0.09%
Graph 2: 12 Month Dividend Yields
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3 TAG Immobilien AG
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 TAG Immobilien AG v. Europe Correlation TAG Immobilien AG v. Global Correlation
TAG Immobilien AG v. Germany Correlation TAG Immobilien AG v. Equities
TAG Immobilien AG v. Bonds
Section 2.6
122
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Greece
Bloomberg: EUPRO GA Reuters: EUPr.AT ISIN: GRS491003000 SNL: EUPRO-ATH
123
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Eurobank Properties *
Graph 1: 12 Month Returns
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Company: Eurobank Properties * -0.86% Country Index: Greece -1.81%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: ASE 20 -21.16% Bond Index: JPMTGR -22.49%
Graph 2: 12 Month Dividend Yields
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6%
8%
10%
12%
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3 Eurobank Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Eurobank Properties * v. Europe Correlation Eurobank Properties * v. Global Correlation
Eurobank Properties * v. Greece Correlation Eurobank Properties * v. Equities
Eurobank Properties * v. Bonds
Bloomberg: LAMDA GA Reuters: LMDr.AT ISIN: GRS245213004 SNL: LAMDA-ATH
124
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Lamda Development
Graph 1: 12 Month Returns
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Company: Lamda Development 1.3% Country Index: Greece -1.81%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: ASE 20 -21.16% Bond Index: JPMTGR -22.49%
Graph 2: 12 Month Dividend Yields
0.0%
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20.0%
30.0%
40.0%
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3 Lamda Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
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0.60
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1.00
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3 Lamda Development v. Europe Correlation Lamda Development v. Global Correlation
Lamda Development v. Greece Correlation Lamda Development v. Equities
Lamda Development v. Bonds
Section 2.7
125
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Version: May 2011
Italy
Bloomberg: BNS IM Reuters: BNSI.MI ISIN: IT0001389631 SNL: BNS-MIL
126
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Beni Stabili
Graph 1: 12 Month Returns
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Company: Beni Stabili 29.09% Country Index: Italy 34.84%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: MIB 30 8.01% Bond Index: JPMTIT 0.54%
Graph 2: 12 Month Dividend Yields
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3%
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3 Beni Stabili
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
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3 Beni Stabili v. Europe Correlation Beni Stabili v. Global Correlation
Beni Stabili v. Italy Correlation Beni Stabili v. Equities
Beni Stabili v. Bonds
Bloomberg: IGD IM Reuters: IGD.MI ISIN: IT0003745889 SNL: IGD-MIL
127
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
IGD *
Graph 1: 12 Month Returns
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Company: IGD * 43.1% Country Index: Italy 34.84%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: MIB 30 8.01% Bond Index: JPMTIT 0.54%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
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3 IGD *
Graph 3: Correlations
-1.00
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-0.60
-0.40
-0.20
0.00
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0.40
0.60
0.80
1.00
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3 IGD * v. Europe Correlation IGD * v. Global Correlation IGD * v. Italy Correlation
IGD * v. Equities IGD * v. Bonds
Section 2.8
128
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Version: May 2011
Israel
Bloomberg: AZRG IT Reuters: AZRG.IT ISIN: IL0011194789 SNL: AZRG-IT
129
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Azrieli Group
Graph 1: 12 Month Returns
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Company: Azrieli Group 12.35% Country Index: #N/A
Regional Index: #N/A Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
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3 Azrieli Group
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
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0.40
0.60
0.80
1.00
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3 #N/A Azrieli Group v. Global Correlation
Azrieli Group v. Israel Correlation Azrieli Group v. Equities
Azrieli Group v. Bonds
Section 2.9
130
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Version: May 2011
Netherlands
Bloomberg: CORA NA Reuters: COR.AS ISIN: NL0000288967 SNL: CORA-AMS
131
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Corio *
Graph 1: 12 Month Returns
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Company: Corio * 22.27% Country Index: Netherlands 32.25%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: AEX 8.96% Bond Index: JPMTNL 0%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
7%
8%
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3 Corio *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Corio * v. Europe Correlation Corio * v. Global Correlation
Corio * v. Netherlands Correlation Corio * v. Equities
Corio * v. Bonds
Bloomberg: ECMPA NA Reuters: SIPFc.AS ISIN: NL0000288876 SNL: ECMPA-AMS
132
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Eurocommercial Props *
Graph 1: 12 Month Returns
0
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Company: Eurocommercial Props * 41.64% Country Index: Netherlands 32.25%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: AEX 8.96% Bond Index: JPMTNL 0%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
7%
8%
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3 Eurocommercial Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
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3 Eurocommercial Props * v. Europe Correlation Eurocommercial Props * v. Global Correlation
Eurocommercial Props * v. Netherlands Correlation Eurocommercial Props * v. Equities
Eurocommercial Props * v. Bonds
Bloomberg: NISTI NA Reuters: NSTEc.AS ISIN: NL0000292324 SNL: NISTI-AMS
133
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Nieuwe Steen Inv *
Graph 1: 12 Month Returns
0
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Company: Nieuwe Steen Inv * -0.91% Country Index: Netherlands 32.25%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: AEX 8.96% Bond Index: JPMTNL 0%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
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3 Nieuwe Steen Inv *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Nieuwe Steen Inv * v. Europe Correlation Nieuwe Steen Inv * v. Global Correlation
Nieuwe Steen Inv * v. Netherlands Correlation Nieuwe Steen Inv * v. Equities
Nieuwe Steen Inv * v. Bonds
Bloomberg: VNOI NA Reuters: VWNN.AS ISIN: NL0000288934 SNL: VNOI-AMS
134
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Vastned Offices/Ind *
Graph 1: 12 Month Returns
0
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Company: Vastned Offices/Ind * 7.42% Country Index: Netherlands 32.25%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: AEX 8.96% Bond Index: JPMTNL 0%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
me
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3 Vastned Offices/Ind *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
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3 Vastned Offices/Ind * v. Europe Correlation Vastned Offices/Ind * v. Global Correlation
Vastned Offices/Ind * v. Netherlands Correlation Vastned Offices/Ind * v. Equities
Vastned Offices/Ind * v. Bonds
Bloomberg: VASTN NA Reuters: VASN.AS ISIN: NL0000288918 SNL: VASTN-AMS
135
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Vastned Retail *
Graph 1: 12 Month Returns
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Company: Vastned Retail * 32.8% Country Index: Netherlands 32.25%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: AEX 8.96% Bond Index: JPMTNL 0%
Graph 2: 12 Month Dividend Yields
0%
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6%
8%
10%
12%
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3 Vastned Retail *
Graph 3: Correlations
-1.00
-0.80
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-0.40
-0.20
0.00
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0.40
0.60
0.80
1.00
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3 Vastned Retail * v. Europe Correlation Vastned Retail * v. Global Correlation
Vastned Retail * v. Netherlands Correlation Vastned Retail * v. Equities
Vastned Retail * v. Bonds
Bloomberg: WHA NA Reuters: WEHA.AS ISIN: NL0000289213 SNL: WHA-AMS
136
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Wereldhave *
Graph 1: 12 Month Returns
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Company: Wereldhave * 16.15% Country Index: Netherlands 32.25%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: AEX 8.96% Bond Index: JPMTNL 0%
Graph 2: 12 Month Dividend Yields
0%
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6%
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8%
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3 Wereldhave *
Graph 3: Correlations
-1.00
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-0.40
-0.20
0.00
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0.40
0.60
0.80
1.00
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3 Wereldhave * v. Europe Correlation Wereldhave * v. Global Correlation
Wereldhave * v. Netherlands Correlation Wereldhave * v. Equities
Wereldhave * v. Bonds
Section 2.10
137
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Norway
Bloomberg: NPRO NO Reuters: NPRO.OL ISIN: NO0010317811 SNL: NPRO-OSL
138
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Norwegian Property
Graph 1: 12 Month Returns
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Company: Norwegian Property 14.75%
Country Index: Norway 18.86%
Regional Index: Europe 35.67%
Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29%
REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OBX 29.63%
Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
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0%
0%
1%
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3 Norwegian Property
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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g-1
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3 Norwegian Property v. Europe Correlation Norwegian Property v. Global Correlation
Norwegian Property v. Equities Norwegian Property v. Bonds
Section 2.11
139
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Spain
Bloomberg: COL SM Reuters: COL.SM ISIN: ES0139140018 SNL: COL-SM
140
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Inmobiliaria Colonial
Graph 1: 12 Month Returns
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Company: Inmobiliaria Colonial S.A. -50.83%
Country Index: #N/A
Regional Index: Europe 35.67%
Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29%
REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: IBEX 11.93%
Bond Index: JPMTSP -1.16%
Graph 2: 12 Month Dividend Yields
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3 Inmobiliaria Colonial S.A.
Graph 3: Correlations
-1.00
-0.80
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-0.40
-0.20
0.00
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0.60
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1.00
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3 #N/A Inmobiliaria Colonial S.A. v. Global Correlation
Inmobiliaria Colonial S.A. v. Equities Inmobiliaria Colonial S.A. v. Bonds
Section 2.12
141
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sweden
Bloomberg: CAST SS Reuters: CAST.ST ISIN: SE0000379190 SNL: CAST-OME
142
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Castellum
Graph 1: 12 Month Returns
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Company: Castellum 40.65% Country Index: Sweden 58.82%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OMX 17.41% Bond Index: JPMTSW 0.68%
Graph 2: 12 Month Dividend Yields
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3%
4%
5%
6%
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3 Castellum
Graph 3: Correlations
-1.00
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-0.60
-0.40
-0.20
0.00
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0.60
0.80
1.00
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3 Castellum v. Europe Correlation Castellum v. Global Correlation
Castellum v. Sweden Correlation Castellum v. Equities
Castellum v. Bonds
Bloomberg: FABG SS Reuters: FABG.ST ISIN: SE0000950636 SNL: FABG-OME
143
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Fabege
Graph 1: 12 Month Returns
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1,800
2,000
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Company: Fabege 55.03% Country Index: Sweden 58.82%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OMX 17.41% Bond Index: JPMTSW 0.68%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
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3 Fabege
Graph 3: Correlations
-1.00
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-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
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3 Fabege v. Europe Correlation Fabege v. Global Correlation
Fabege v. Sweden Correlation Fabege v. Equities
Fabege v. Bonds
Bloomberg: HUFVA SS Reuters: HUFVa.ST ISIN: SE0000170375 SNL: HUFVA-OME
144
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hufvudstaden A
Graph 1: 12 Month Returns
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Company: Hufvudstaden A 40.09% Country Index: Sweden 58.82%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OMX 17.41% Bond Index: JPMTSW 0.68%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
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3 Hufvudstaden A
Graph 3: Correlations
-1.00
-0.80
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-0.40
-0.20
0.00
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0.40
0.60
0.80
1.00
me
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3 Hufvudstaden A v. Europe Correlation Hufvudstaden A v. Global Correlation
Hufvudstaden A v. Sweden Correlation Hufvudstaden A v. Equities
Hufvudstaden A v. Bonds
Bloomberg: KLOV SS Reuters: KLOV.ST ISIN: SE0000331225 SNL: KLOV-OME
145
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Klovern AB
Graph 1: 12 Month Returns
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Company: Klovern AB 32.53% Country Index: Sweden 58.82%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OMX 17.41% Bond Index: JPMTSW 0.68%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
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3 Klovern AB
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Klovern AB v. Europe Correlation Klovern AB v. Global Correlation
Klovern AB v. Sweden Correlation Klovern AB v. Equities
Klovern AB v. Bonds
Bloomberg: KLED SS Reuters: KLED.ST ISIN: SE0000549412 SNL: KLED-OME
146
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kungsleden
Graph 1: 12 Month Returns
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Company: Kungsleden 36.17% Country Index: Sweden 58.82%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OMX 17.41% Bond Index: JPMTSW 0.68%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
7%
8%
9%
me
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3 Kungsleden
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Kungsleden v. Europe Correlation Kungsleden v. Global Correlation
Kungsleden v. Sweden Correlation Kungsleden v. Equities
Kungsleden v. Bonds
Bloomberg: WIHL SS Reuters: WIHL.ST ISIN: SE0001413600 SNL: WIHL-OME
147
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Wihlborgs Fastigheter
Graph 1: 12 Month Returns
0
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1,800
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Company: Wihlborgs Fastigheter 38.43% Country Index: Sweden 58.82%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: OMX 17.41% Bond Index: JPMTSW 0.68%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
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3 Wihlborgs Fastigheter
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
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1.00
me
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3 Wihlborgs Fastigheter v. Europe Correlation Wihlborgs Fastigheter v. Global Correlation
Wihlborgs Fastigheter v. Sweden Correlation Wihlborgs Fastigheter v. Equities
Wihlborgs Fastigheter v. Bonds
Section 2.13
148
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Switzerland
Bloomberg: ALLN SW Reuters: ALLN.S ISIN: CH0008837566 SNL: ALLN-SWX
149
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Allreal
Graph 1: 12 Month Returns
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Company: Allreal 23.43% Country Index: Switzerland 47.68%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: SMI 3.84% Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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3 Allreal
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Allreal v. Europe Correlation Allreal v. Global Correlation
Allreal v. Switzerland Correlation Allreal v. Equities
Allreal v. Bonds
Bloomberg: PSPN SW Reuters: PSPN.S ISIN: CH0018294154 SNL: PSPN-SWX
150
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
PSP Swiss Property
Graph 1: 12 Month Returns
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Company: PSP Swiss Property 26.98% Country Index: Switzerland 47.68%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: SMI 3.84% Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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3 PSP Swiss Property
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 PSP Swiss Property v. Europe Correlation PSP Swiss Property v. Global Correlation
PSP Swiss Property v. Switzerland Correlation PSP Swiss Property v. Equities
PSP Swiss Property v. Bonds
Bloomberg: SPSN SW Reuters: SPSN.S ISIN: CH0008038389 SNL: SPSN-SWX
151
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Swiss Prime Site
Graph 1: 12 Month Returns
0
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Company: Swiss Prime Site 19.85% Country Index: Switzerland 47.68%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: SMI 3.84% Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 Swiss Prime Site
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Swiss Prime Site v. Europe Correlation Swiss Prime Site v. Global Correlation
Swiss Prime Site v. Switzerland Correlation Swiss Prime Site v. Equities
Swiss Prime Site v. Bonds
Bloomberg: ZUBN SW Reuters: ZUBN.S ISIN: CH0021831182 SNL: ZUBN-SWX
152
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Zueblin Immobilien Holding
Graph 1: 12 Month Returns
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Company: Zueblin Immobilien Holding -4.52% Country Index: Switzerland 47.68%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: SMI 3.84% Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
10%
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30%
40%
50%
60%
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80%
90%
100%
me
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3 Zueblin Immobilien Holding
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Zueblin Immobilien Holding v. Europe Correlation Zueblin Immobilien Holding v. Global Correlation
Zueblin Immobilien Holding v. Switzerland Correlation Zueblin Immobilien Holding v. Equities
Zueblin Immobilien Holding v. Bonds
Section 2.14
153
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
United Kingdom
Bloomberg: BYG LN Reuters: BYG.L ISIN: GB0002869419 SNL: BYG-LON
154
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Big Yellow Group *
Graph 1: 12 Month Returns
0
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1,000
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Company: Big Yellow Group * 9.64% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Self Storage 14.09%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
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3 Big Yellow Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
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jul-1
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g-1
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3 Big Yellow Group * v. Europe Correlation Big Yellow Group * v. Global Correlation
Big Yellow Group * v. UK Correlation Big Yellow Group * v. Equities
Big Yellow Group * v. Bonds
Bloomberg: BLND LN Reuters: BLND.L ISIN: GB0001367019 SNL: BLND-LON
155
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
British Land *
Graph 1: 12 Month Returns
0
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Company: British Land * 32.72% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
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3 British Land *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 British Land * v. Europe Correlation British Land * v. Global Correlation
British Land * v. UK Correlation British Land * v. Equities
British Land * v. Bonds
Bloomberg: CLI LN Reuters: CLSH.L ISIN: GB0001592475 SNL: CLI-LON
156
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CLS Holdings
Graph 1: 12 Month Returns
0
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Company: CLS Holdings 40.83% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
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3 CLS Holdings
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 CLS Holdings v. Europe Correlation CLS Holdings v. Global Correlation
CLS Holdings v. UK Correlation CLS Holdings v. Equities
CLS Holdings v. Bonds
Bloomberg: DJAN LN Reuters: DJAN.L ISIN: GB0002502036 SNL: DJAN-LON
157
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Daejan Holdings
Graph 1: 12 Month Returns
0
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Company: Daejan Holdings 15.26% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
me
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3 Daejan Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
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jul-1
0
au
g-1
0
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p-1
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jan
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3 Daejan Holdings v. Europe Correlation Daejan Holdings v. Global Correlation
Daejan Holdings v. UK Correlation Daejan Holdings v. Equities
Daejan Holdings v. Bonds
Bloomberg: DLN LN Reuters: DLN.L ISIN: GB0002652740 SNL: DLN-LON
158
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Derwent London *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
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-10
jul-1
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g-1
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Company: Derwent London * 37.05% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
0
jun
-10
jul-1
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g-1
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p-1
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okt-
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jan
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3 Derwent London *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
se
p-1
0
okt-
10
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v-1
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jan
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3 Derwent London * v. Europe Correlation Derwent London * v. Global Correlation
Derwent London * v. UK Correlation Derwent London * v. Equities
Derwent London * v. Bonds
Bloomberg: DSC LN Reuters: DSC.L ISIN: GB0002668464 SNL: DSC-LON
159
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Development Securities
Graph 1: 12 Month Returns
0
200
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600
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1,000
1,200
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1,600
me
i-1
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-10
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g-1
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jan
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Company: Development Securities -7.3% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
0
jun
-10
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0
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3 Development Securities
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
se
p-1
0
okt-
10
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v-1
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3 Development Securities v. Europe Correlation Development Securities v. Global Correlation
Development Securities v. UK Correlation Development Securities v. Equities
Development Securities v. Bonds
Bloomberg: FCPT LN Reuters: FCPT.L ISIN: GG00B4ZPCJ00 SNL: FCPT-LON
160
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
F&C Commercial Prop
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
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1,600
me
i-1
0
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-10
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0
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g-1
0
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p-1
0
okt-
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v-1
0
de
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Company: F&C Commercial Prop 8.68% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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jul-1
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3 F&C Commercial Prop
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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3 F&C Commercial Prop v. Europe Correlation F&C Commercial Prop v. Global Correlation
F&C Commercial Prop v. UK Correlation F&C Commercial Prop v. Equities
F&C Commercial Prop v. Bonds
Bloomberg: GRI LN Reuters: GRI.L ISIN: GB00B04V1276 SNL: GRI-LON
161
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Grainger Plc
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
1,600
me
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Company: Grainger Plc 3.81% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Residential 31.51%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
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jun
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0
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3 Grainger Plc
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
okt-
10
no
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3 Grainger Plc v. Europe Correlation Grainger Plc v. Global Correlation
Grainger Plc v. UK Correlation Grainger Plc v. Equities
Grainger Plc v. Bonds
Bloomberg: GPOR LN Reuters: GPOR.L ISIN: GB00B01FLL16 SNL: GPOR-LON
162
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Great Portland Estates *
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
1,600
me
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Company: Great Portland Estates * 43.52% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
0
jun
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jul-1
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g-1
0
se
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3 Great Portland Estates *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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jan
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3 Great Portland Estates * v. Europe Correlation Great Portland Estates * v. Global Correlation
Great Portland Estates * v. UK Correlation Great Portland Estates * v. Equities
Great Portland Estates * v. Bonds
Bloomberg: HMSO LN Reuters: HMSO.L ISIN: GB0004065016 SNL: HMSO-LON
163
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hammerson *
Graph 1: 12 Month Returns
0
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800
1,000
1,200
1,400
1,600
me
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Company: Hammerson * 33.12% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Retail 34.27%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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3 Hammerson *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
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10
no
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3 Hammerson * v. Europe Correlation Hammerson * v. Global Correlation
Hammerson * v. UK Correlation Hammerson * v. Equities
Hammerson * v. Bonds
Bloomberg: HSTN LN Reuters: HSTN.L ISIN: GB00B0PPFY88 SNL: HSTN-LON
164
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hansteen Holdings
Graph 1: 12 Month Returns
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1,600
me
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Company: Hansteen Holdings 38.82%
Country Index: UK 28.61%
Regional Index: North America 35.67%
Blue Chip Index: FTSE 100 15.45%
Sector Index: Industrial 25.08%
Investment Focus Index: Rental 13.04%
REIT-Structure Index: REIT 12.24%
Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
me
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3 Hansteen Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
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10
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Hansteen Holdings v. Europe Correlation
Hansteen Holdings v. Global Correlation
Hansteen Holdings v. UK Correlation
Hansteen Holdings v. Equities
Hansteen Holdings v. Bonds
Bloomberg: HLCL LN Reuters: HLCL.L ISIN: GB00B0FYMT95 SNL: HLCL-LON
165
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Helical Bar
Graph 1: 12 Month Returns
0
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800
1,000
1,200
1,400
1,600
me
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Company: Helical Bar -6.66% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
me
i-1
0
jun
-10
jul-1
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0
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p-1
0
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10
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3 Helical Bar
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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3 Helical Bar v. Europe Correlation Helical Bar v. Global Correlation
Helical Bar v. UK Correlation Helical Bar v. Equities
Helical Bar v. Bonds
Bloomberg: IRET LN Reuters: IRET.L ISIN: GB00B0LCW208 SNL: IRET-LON
166
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
ING UK Real Estate Income Trust
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
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Company: ING UK Real Estate Income Trust 9.38%
Country Index: UK 28.61%
Regional Index: Europe 35.67%
Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29%
REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45%
Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
me
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3 ING UK Real Estate Income Trust
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
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g-1
0
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p-1
0
okt-
10
no
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3 ING UK Real Estate Income Trust v. Europe Correlation
ING UK Real Estate Income Trust v. Global Correlation
ING UK Real Estate Income Trust v. UK Correlation
ING UK Real Estate Income Trust v. Equities
ING UK Real Estate Income Trust v. Bonds
Bloomberg: IFD LN Reuters: INRE.L ISIN: GB00B01HM147 SNL: IFD-LON
167
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Invista Foundation Prop
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
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Company: Invista Foundation Prop -3.13%
Country Index: UK 28.61%
Regional Index: Europe 35.67%
Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29%
REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45%
Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
me
i-1
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jun
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g-1
0
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p-1
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3 Invista Foundation Prop
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
au
g-1
0
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p-1
0
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10
no
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jan
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3 Invista Foundation Prop v. Europe Correlation Invista Foundation Prop v. Global Correlation
Invista Foundation Prop v. UK Correlation Invista Foundation Prop v. Equities
Invista Foundation Prop v. Bonds
Bloomberg: IRP LN Reuters: IRP.L ISIN: GB00B012T521 SNL: IRP-LON
168
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
IRP Property Investments
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
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Company: IRP Property Investments 10.64% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
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jul-1
0
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g-1
0
se
p-1
0
okt-
10
no
v-1
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jan
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me
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3 IRP Property Investments
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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3 IRP Property Investments v. Europe Correlation IRP Property Investments v. Global Correlation
IRP Property Investments v. UK Correlation IRP Property Investments v. Equities
IRP Property Investments v. Bonds
Bloomberg: LAND LN Reuters: LAND.L ISIN: GB0031809436 SNL: LAND-LON
169
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Land Securities *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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1
Company: Land Securities * 38.44% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
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jan
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3 Land Securities *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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3 Land Securities * v. Europe Correlation Land Securities * v. Global Correlation
Land Securities * v. UK Correlation Land Securities * v. Equities
Land Securities * v. Bonds
Bloomberg: CSCG LN Reuters: CSCG.L ISIN: GB0006834344 SNL: CSCG-LON
170
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Capital Shopping Centres Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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Company: Capital Shopping Centres Group * 24.57%Country Index: UK 28.61%Regional Index: Europe 35.67%Sector Index: Retail 34.27%Investment Focus Index: Rental 36.29%REIT-Structure Index: REIT 34.67%Blue Chip Index: FTSE 100 15.45%Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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3 Capital Shopping Centres Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
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3 Capital Shopping Centres Group * v. Europe Correlation
Capital Shopping Centres Group * v. Global Correlation
Capital Shopping Centres Group * v. UK Correlation
Capital Shopping Centres Group * v. Equities
Capital Shopping Centres Group * v. Bonds
Bloomberg: CAPC LN Reuters: CAPC.L ISIN: GB00B62G9D36 SNL: CAPC-LON
171
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Capital & Counties Properties
Graph 1: 12 Month Returns
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1,800
2,000
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Company: Capital & Counties Properties 72.98% Country Index: UK 28.61%
Regional Index: Europe 35.67% Blue Chip Index: FTSE 100 15.45%
Graph 2: 12 Month Dividend Yields
0%
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3 Capital & CountiesProperties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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Capital & Counties Properties v. Europe Correlation
Capital & Counties Properties v. Global Correlation
Bloomberg: LSP LN Reuters: LSP.L ISIN: GB00B4WFW713 SNL: LSP-LON
172
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
London & Stamford Property
Graph 1: 12 Month Returns
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Company: London & Stamford Property 10.61% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTSING 3.75%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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3 London & Stamford Property
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 London & Stamford Property v. Europe Correlation
London & Stamford Property v. Global Correlation
London & Stamford Property v. UK Correlation
London & Stamford Property v. Equities
London & Stamford Property v. Bonds
Bloomberg: MNR LN Reuters: MNR.L ISIN: GB0005953681 SNL: MNR-LON
173
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Minerva
Graph 1: 12 Month Returns
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Company: Minerva 3.55% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Non-Rental 20.82% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
me
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3 Minerva
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Minerva v. Europe Correlation Minerva v. Global Correlation
Minerva v. UK Correlation Minerva v. Equities
Minerva v. Bonds
Bloomberg: MKLW LN Reuters: MKLW.L ISIN: GB0006091408 SNL: MKLW-LON
174
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mucklow <A&J> *
Graph 1: 12 Month Returns
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Company: Mucklow <A&J> * 26.7% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
7%
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3 Mucklow <A&J> *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Mucklow <A&J> * v. Europe Correlation Mucklow <A&J> * v. Global Correlation
Mucklow <A&J> * v. UK Correlation Mucklow <A&J> * v. Equities
Mucklow <A&J> * v. Bonds
Bloomberg: PHP LN Reuters: PHP.L ISIN: GB0007015521 SNL: PHP-LON
175
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Primary Health Prop. *
Graph 1: 12 Month Returns
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-10
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Company: Primary Health Prop. * 11.45% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Health Care 13.8%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
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2%
3%
4%
5%
6%
7%
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3 Primary Health Prop. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Primary Health Prop. * v. Europe Correlation Primary Health Prop. * v. Global Correlation
Primary Health Prop. * v. UK Correlation Primary Health Prop. * v. Equities
Primary Health Prop. * v. Bonds
Bloomberg: QED LN Reuters: QED.L ISIN: GB0007184442 SNL: QED-LON
176
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Quintain Estates
Graph 1: 12 Month Returns
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Company: Quintain Estates 13.83%
Country Index: UK 28.61%
Regional Index: Europe 35.67%
Sector Index: Diversified 36.94%
Investment Focus Index: Non-Rental 20.82%
REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45%
Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
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30%
40%
50%
60%
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90%
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3 Quintain Estates
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Quintain Estates v. Europe Correlation Quintain Estates v. Global Correlation
Quintain Estates v. UK Correlation Quintain Estates v. Equities
Quintain Estates v. Bonds
Bloomberg: SAFE LN Reuters: SAFE.L ISIN: GB00B1N7Z094 SNL: SAFE-LON
177
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Safestore Holdings
Graph 1: 12 Month Returns
0
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Company: Safestore Holdings 25.21% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Self Storage 14.09%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
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3 Safestore Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Safestore Holdings v. Europe Correlation Safestore Holdings v. Global Correlation
Safestore Holdings v. UK Correlation Safestore Holdings v. Equities
Safestore Holdings v. Bonds
Bloomberg: SGRO LN Reuters: SGRO.L ISIN: GB00B5ZN1N88 SNL: SGRO-LON
178
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Segro *
Graph 1: 12 Month Returns
0
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Company: Segro * 13.49% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Industrial 21.97%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
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3 Segro *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Segro * v. Europe Correlation Segro * v. Global Correlation
Segro * v. UK Correlation Segro * v. Equities
Segro * v. Bonds
Bloomberg: SHB LN Reuters: SHB.L ISIN: GB0007990962 SNL: SHB-LON
179
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Shaftesbury *
Graph 1: 12 Month Returns
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Company: Shaftesbury * 44.02% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
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3 Shaftesbury *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Shaftesbury * v. Europe Correlation Shaftesbury * v. Global Correlation
Shaftesbury * v. UK Correlation Shaftesbury * v. Equities
Shaftesbury * v. Bonds
Bloomberg: SMP LN Reuters: SMP.L ISIN: GB0007291015 SNL: SMP-LON
180
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
St Modwen Properties
Graph 1: 12 Month Returns
0
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Company: St Modwen Properties 4.02% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
me
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3 St Modwen Properties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
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0.60
0.80
1.00
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3 St Modwen Properties v. Europe Correlation St Modwen Properties v. Global Correlation
St Modwen Properties v. UK Correlation St Modwen Properties v. Equities
St Modwen Properties v. Bonds
Bloomberg: SLI LN Reuters: SLI.L ISIN: GB0033875286 SNL: SLI-LON
181
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Standard Life Inv Prop
Graph 1: 12 Month Returns
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Company: Standard Life Inv Prop 21.98% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
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3 Standard Life Inv Prop
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
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me
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3 Standard Life Inv Prop v. Europe Correlation Standard Life Inv Prop v. Global Correlation
Standard Life Inv Prop v. UK Correlation Standard Life Inv Prop v. Equities
Standard Life Inv Prop v. Bonds
Bloomberg: UKCM LN Reuters: UKCM.L ISIN: GB00B19Z2J52 SNL: UKCM-LON
182
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
UK Commercial Property Trust
Graph 1: 12 Month Returns
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Company: UK Commercial Property Trust 5.35% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Diversified 36.94%
Investment Focus Index: Rental 36.29% REIT-Structure Index: Non-REIT 38.13%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0%
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me
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3 UK Commercial Property Trust
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
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0.40
0.60
0.80
1.00
me
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3 UK Commercial Property Trust v. Europe Correlation
UK Commercial Property Trust v. Global Correlation
UK Commercial Property Trust v. UK Correlation
UK Commercial Property Trust v. Equities
UK Commercial Property Trust v. Bonds
Bloomberg: UTG LN Reuters: UTG.L ISIN: GB0006928617 SNL: UTG-LON
183
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Unite Group
Graph 1: 12 Month Returns
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Company: Unite Group 12.34%
Country Index: UK 28.61%
Regional Index: Europe 35.67%
Sector Index: Specialty 8.63%
Investment Focus Index: Rental 36.29%
REIT-Structure Index: Non-REIT38.13%Blue Chip Index: FTSE 100 15.45%
Graph 2: 12 Month Dividend Yields
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
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3 Unite Group
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Unite Group v. Europe Correlation Unite Group v. Global Correlation
Unite Group v. UK Correlation Unite Group v. Equities
Unite Group v. Bonds
Bloomberg: WKP LN Reuters: WKP.L ISIN: GB0005296354 SNL: WKP-LON
184
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Workspace Group *
Graph 1: 12 Month Returns
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Company: Workspace Group * 40.74% Country Index: UK 28.61%
Regional Index: Europe 35.67% Sector Index: Office 40.72%
Investment Focus Index: Rental 36.29% REIT-Structure Index: REIT 34.67%
Blue Chip Index: FTSE 100 15.45% Bond Index: JPMTUK 5.51%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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3 Workspace Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Workspace Group * v. Europe Correlation Workspace Group * v. Global Correlation
Workspace Group * v. UK Correlation Workspace Group * v. Equities
Workspace Group * v. Bonds
Section 3
185
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Developed North America
Section 3.1
186
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Canada
Bloomberg: AP-U CN Reuters: AP_u.TO ISIN: CA0194561027 SNL: AP.UN-TSX
187
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Allied Properties REIT *
Graph 1: 12 Month Returns
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Company: Allied Properties REIT * 22.1% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
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6%
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3 Allied Properties REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Allied Properties REIT * v. Nth Am Correlation Allied Properties REIT * v. Global Correlation
Allied Properties REIT * v. Canada Correlation Allied Properties REIT * v. Equities
Allied Properties REIT * v. Bonds
Bloomberg: AX-U CN Reuters: AX_u.TO ISIN: CA04315L1058 SNL: AX.UN-TSX
188
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Artis Real Estate Investment Trust *
Graph 1: 12 Month Returns
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Company: Artis Real Estate Investment Trust * 25.9%
Country Index: Canada 23.6%
Regional Index: North America 13.25%
Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04%
REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34%
Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
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4%
6%
8%
10%
12%
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3 Artis Real Estate Investment Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Artis Real Estate Investment Trust * v. Nth Am Correlation
Artis Real Estate Investment Trust * v. Global Correlation
Artis Real Estate Investment Trust * v. Canada Correlation
Artis Real Estate Investment Trust * v. Equities
Artis Real Estate Investment Trust * v. Bonds
Bloomberg: BEI-U CN Reuters: BEI_u.TO ISIN: CA0966311064 SNL: BEI.UN-TSX
189
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Boardwalk REIT *
Graph 1: 12 Month Returns
0
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Company: Boardwalk REIT * 26.45% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
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1%
2%
2%
3%
3%
4%
4%
5%
5%
me
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3 Boardwalk REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Boardwalk REIT * v. Nth Am Correlation Boardwalk REIT * v. Global Correlation
Boardwalk REIT * v. Canada Correlation Boardwalk REIT * v. Equities
Boardwalk REIT * v. Bonds
Bloomberg: BPO CN Reuters: BPO.TO ISIN: CA1129001055 SNL: BPO-US
190
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Brookfield Props
Graph 1: 12 Month Returns
0
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Company: Brookfield Props 25.41% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: Non-REIT 6.43%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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3 Brookfield Props
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Brookfield Props v. Nth Am Correlation Brookfield Props v. Global Correlation
Brookfield Props v. Canada Correlation Brookfield Props v. Equities
Brookfield Props v. Bonds
Bloomberg: CWT-U CN Reuters: CWT_u.TO ISIN: CA1312532056 SNL: CWT.UN-TSX
191
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Calloway REIT *
Graph 1: 12 Month Returns
0
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Company: Calloway REIT * 24.98% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Calloway REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Calloway REIT * v. Nth Am Correlation Calloway REIT * v. Global Correlation
Calloway REIT * v. Canada Correlation Calloway REIT * v. Equities
Calloway REIT * v. Bonds
Bloomberg: CAR-U CN Reuters: CAR_u.TO ISIN: CA1349211054 SNL: CAR.UN-TSX
192
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Canadian Apartment Props *
Graph 1: 12 Month Returns
0
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Company: Canadian Apartment Props * 26.01% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
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3%
4%
5%
6%
7%
8%
me
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3 Canadian Apartment Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Canadian Apartment Props * v. Nth Am Correlation Canadian Apartment Props * v. Global Correlation
Canadian Apartment Props * v. Canada Correlation Canadian Apartment Props * v. Equities
Canadian Apartment Props * v. Bonds
Bloomberg: REF-U CN Reuters: REF_u.TO ISIN: CA13650J1049 SNL: REF.UN-TSX
193
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Canadian REIT *
Graph 1: 12 Month Returns
0
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1,400
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Company: Canadian REIT * 24.17% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 Canadian REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
0
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10
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3 Canadian REIT * v. Nth Am Correlation Canadian REIT * v. Global Correlation
Canadian REIT * v. Canada Correlation Canadian REIT * v. Equities
Canadian REIT * v. Bonds
Bloomberg: CSH-U CN Reuters: CSH_u.TO ISIN: CA16140U1003 SNL: CSH.UN-TSX
194
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Chartwell Seniors Housing REIT *
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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jul-1
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Company: Chartwell Seniors Housing REIT * 20.31%Country Index: Canada 23.6%Regional Index: North America 13.25%Sector Index: Health Care 7.48%Investment Focus Index: Rental 13.04%REIT-Structure Index: REIT 12.24%Blue Chip Index: TSX 17.34%Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Chartwell Seniors Housing REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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0
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0
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10
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3 Chartwell Seniors Housing REIT * v. Nth Am Correlation
Chartwell Seniors Housing REIT * v. Global Correlation
Chartwell Seniors Housing REIT * v. Canada Correlation
Chartwell Seniors Housing REIT * v. Equities
Chartwell Seniors Housing REIT * v. Bonds
Bloomberg: CUF-U CN Reuters: CUF_u.TO ISIN: CA1999101001 SNL: CUF.UN-TSX
195
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Cominar REIT *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
me
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Company: Cominar REIT * 21.4% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
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jun
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0
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3 Cominar REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
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g-1
0
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10
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3 Cominar REIT * v. Nth Am Correlation Cominar REIT * v. Global Correlation
Cominar REIT * v. Canada Correlation Cominar REIT * v. Equities
Cominar REIT * v. Bonds
Bloomberg: CRR-U CN Reuters: CRR_u.TO ISIN: CA2271071094 SNL: CRR.UN-TSX
196
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Crombie Real Estate Investment Trust *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
me
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jul-1
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Company: Crombie Real Estate Investment Trust * 15.43%
Country Index: Canada 23.6%
Regional Index: North America 13.25%
Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04%
REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34%
Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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jul-1
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3 Crombie Real Estate Investment Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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3 Crombie Real Estate Investment Trust * v. Nth Am Correlation
Crombie Real Estate Investment Trust * v. Global Correlation
Crombie Real Estate Investment Trust * v. Canada Correlation
Crombie Real Estate Investment Trust * v. Equities
Crombie Real Estate Investment Trust * v. Bonds
Bloomberg: D-U CN Reuters: D_u.TO ISIN: CA2652702077 SNL: D.UN-TSX
197
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Dundee REIT *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
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Company: Dundee REIT * 38.24% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
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3 Dundee REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
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g-1
0
se
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10
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3 Dundee REIT * v. Nth Am Correlation Dundee REIT * v. Global Correlation
Dundee REIT * v. Canada Correlation Dundee REIT * v. Equities
Dundee REIT * v. Bonds
Bloomberg: EXE-U CN Reuters: EXE_u.TO ISIN: CA3022511032 SNL: EXE.UN-TSX
198
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Extendicare REIT *
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
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Company: Extendicare REIT * 36.15% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
me
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jun
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g-1
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10
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3 Extendicare REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
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g-1
0
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0
okt-
10
no
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3 Extendicare REIT * v. Nth Am Correlation Extendicare REIT * v. Global Correlation
Extendicare REIT * v. Canada Correlation Extendicare REIT * v. Equities
Extendicare REIT * v. Bonds
Bloomberg: FCR CN Reuters: FCR.TO ISIN: CA31943B1004 SNL: FCR-TSX
199
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
First Capital Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
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Company: First Capital Realty * 19.06% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: Non-REIT 6.43%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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10
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3 First Capital Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
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jul-1
0
au
g-1
0
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p-1
0
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10
no
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3 First Capital Realty * v. Nth Am Correlation First Capital Realty * v. Global Correlation
First Capital Realty * v. Canada Correlation First Capital Realty * v. Equities
First Capital Realty * v. Bonds
Bloomberg: HR-U CN Reuters: HR_u.TO ISIN: CA4044282032 SNL: HR.UN-TSX
200
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
H & R Real Estate *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
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Company: H & R Real Estate * 33.74% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
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jun
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jul-1
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g-1
0
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p-1
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10
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3 H & R Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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g-1
0
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0
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10
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3 H & R Real Estate * v. Nth Am Correlation H & R Real Estate * v. Global Correlation
H & R Real Estate * v. Canada Correlation H & R Real Estate * v. Equities
H & R Real Estate * v. Bonds
Bloomberg: INN-U CN Reuters: INN_u.TO ISIN: CA45778F1018 SNL: INN.UN-TSX
201
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Innvest REIT *
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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0
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Company: Innvest REIT * 13.14% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
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0
jun
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jul-1
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0
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10
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3 Innvest REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
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g-1
0
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p-1
0
okt-
10
no
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3 Innvest REIT * v. Nth Am Correlation Innvest REIT * v. Global Correlation
Innvest REIT * v. Canada Correlation Innvest REIT * v. Equities
Innvest REIT * v. Bonds
Bloomberg: KMP CN Reuters: KMP.TO ISIN: CA4941048700 SNL: KMP-TSX
202
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Killam Properties *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
me
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Company: Killam Properties * 28.03% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: Non-REIT 6.43%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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jan
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3 Killam Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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g-1
0
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0
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10
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3 Killam Properties * v. Nth Am Correlation Killam Properties * v. Global Correlation
Killam Properties * v. Canada Correlation Killam Properties * v. Equities
Killam Properties * v. Bonds
Bloomberg: MRT-U CN Reuters: MRT_u.TO ISIN: CA6179141065 SNL: MRT.UN-TSX
203
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Morguard REIT *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
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0
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10
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Company: Morguard REIT * 15.78% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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0
jun
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jul-1
0
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0
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10
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3 Morguard REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
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0
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10
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3 Morguard REIT * v. Nth Am Correlation Morguard REIT * v. Global Correlation
Morguard REIT * v. Canada Correlation Morguard REIT * v. Equities
Morguard REIT * v. Bonds
Bloomberg: NPR-U CN Reuters: NPR_u.TO ISIN: CA66562P1053 SNL: NPR.UN-TSX
204
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Northern Property REIT *
Graph 1: 12 Month Returns
0
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Company: Northern Property REIT * 24.74% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Northern Property REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Northern Property REIT * v. Nth Am Correlation Northern Property REIT * v. Global Correlation
Northern Property REIT * v. Canada Correlation Northern Property REIT * v. Equities
Northern Property REIT * v. Bonds
Bloomberg: PMZ-U CN Reuters: PMZ_u.TO ISIN: CA74157U1093 SNL: PMZ.UN-TSX
205
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Primaris Retail REIT *
Graph 1: 12 Month Returns
0
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1,000
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1,400
me
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Company: Primaris Retail REIT * 22.27% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Primaris Retail REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Primaris Retail REIT * v. Nth Am Correlation Primaris Retail REIT * v. Global Correlation
Primaris Retail REIT * v. Canada Correlation Primaris Retail REIT * v. Equities
Primaris Retail REIT * v. Bonds
Bloomberg: REI-U CN Reuters: REI_u.TO ISIN: CA7669101031 SNL: REI.UN-TSX
206
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Riocan Real Estate *
Graph 1: 12 Month Returns
0
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1,200
1,400
1,600
me
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Company: Riocan Real Estate * 34.96% Country Index: Canada 23.6%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: TSX 17.34% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Riocan Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Riocan Real Estate * v. Nth Am Correlation Riocan Real Estate * v. Global Correlation
Riocan Real Estate * v. Canada Correlation Riocan Real Estate * v. Equities
Riocan Real Estate * v. Bonds
Bloomberg: TGA-U CN Reuters: TGA_u.TO ISIN: CA89367A1075 SNL: TGA.UN-TSX
207
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
TransGlobe Apartment REIT *
Graph 1: 12 Month Returns
0
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1,400
me
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Company: TransGlobe Apartment REIT * 20.7% Country Index: Canada 23.6%
Regional Index: North America 13.25% Blue Chip Index: STI 14.8%
Investment Focus Index: Rental 13.04% Sector Index: Residential 17.84%
REIT-Structure Index: REIT 12.24% Bond Index: JPMTCAN 5.11%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 TransGlobe Apartment REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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TransGlobe Apartment REIT * v. Nth Am Correlation
TransGlobe Apartment REIT * v. Global Correlation
TransGlobe Apartment REIT * v. Canada Correlation
TransGlobe Apartment REIT * v. Equities
TransGlobe Apartment REIT * v. Bonds
Section 3.2
208
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
United States
Bloomberg: AKR US Reuters: AKR.N ISIN: US0042391096 SNL: AKR-US
209
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Acadia Realty Trust *
Graph 1: 12 Month Returns
0
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Company: Acadia Realty Trust * 15.43% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
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3 Acadia Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Acadia Realty Trust * v. Nth Am Correlation Acadia Realty Trust * v. Global Correlation
Acadia Realty Trust * v. USA Correlation Acadia Realty Trust * v. Equities
Acadia Realty Trust * v. Bonds
Bloomberg: ADC US Reuters: ADC.N ISIN: US0084921008 SNL: ADC-US
210
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Agree Realty Corp *
Graph 1: 12 Month Returns
0
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800
1,000
1,200
1,400
me
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Company: Agree Realty Corp * -4.45% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
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3 Agree Realty Corp *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Agree Realty Corp * v. Nth Am Correlation Agree Realty Corp * v. Global Correlation
Agree Realty Corp * v. USA Correlation Agree Realty Corp * v. Equities
Agree Realty Corp * v. Bonds
Bloomberg: ALX US Reuters: ALX.N ISIN: US0147521092 SNL: ALX-US
211
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Alexander's Inc. *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
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Company: Alexander's Inc. * 20.92% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
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3 Alexander's Inc. *
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Alexander's Inc. * v. Nth Am Correlation Alexander's Inc. * v. Global Correlation
Alexander's Inc. * v. USA Correlation Alexander's Inc. * v. Equities
Alexander's Inc. * v. Bonds
Bloomberg: ARE US Reuters: ARE.N ISIN: FI0009006829 SNL: ARE-US
212
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Alexandria Real Estate *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
me
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Company: Alexandria Real Estate * 25.86% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
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jun
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3 Alexandria Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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g-1
0
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0
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3 Alexandria Real Estate * v. Nth Am Correlation Alexandria Real Estate * v. Global Correlation
Alexandria Real Estate * v. USA Correlation Alexandria Real Estate * v. Equities
Alexandria Real Estate * v. Bonds
Bloomberg: AMB US Reuters: AMB.N ISIN: US00163T1097 SNL: AMB-US
213
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
AMB Property *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
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Company: AMB Property * 42.65% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Industrial 25.08%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
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0
jun
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jul-1
0
au
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0
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0
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jan
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3 AMB Property *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
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3 AMB Property * v. Nth Am Correlation AMB Property * v. Global Correlation
AMB Property * v. USA Correlation AMB Property * v. Equities
AMB Property * v. Bonds
Bloomberg: AAT US Reuters: AAT.N ISIN: US0240131047 SNL: AAT-US
214
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
American Assets Trust Inc. *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
me
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jun
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jul-1
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g-1
0
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jan
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Company: #DIV/0! Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
me
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jun
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jul-1
0
au
g-1
0
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3 American Assets Trust Inc. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
jun
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jul-1
0
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g-1
0
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jan
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3 American Assets Trust Inc. * v. Nth Am Correlation
American Assets Trust Inc. * v. Global Correlation
American Assets Trust Inc. * v. USA Correlation
Equities American Assets Trust Inc. * v. Equities
American Assets Trust Inc. * v. Bonds
Bloomberg: ACC US Reuters: ACC.N ISIN: US0248351001 SNL: ACC-US
215
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
American Campus Communities *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
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0
jun
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jul-1
0
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g-1
0
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okt-
10
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0
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jan
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1
Company: American Campus Communities * 32.01%Country Index: USA 12.22%Regional Index: North America 13.25%Sector Index: Residential 17.84%Investment Focus Index: Rental 13.04%REIT-Structure Index: REIT 12.24%Blue Chip Index: #N/ABond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
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jul-1
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au
g-1
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10
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3 American Campus Communities *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
okt-
10
no
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3 American Campus Communities * v. Nth Am Correlation
American Campus Communities * v. Global Correlation
American Campus Communities * v. USA Correlation
American Campus Communities * v. Equities
American Campus Communities * v. Bonds
Bloomberg: AIV US Reuters: AIV.N ISIN: US03748R1014 SNL: AIV-US
216
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Apartment Investment *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
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10
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Company: Apartment Investment * 29.57% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
okt-
10
no
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3 Apartment Investment *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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3 Apartment Investment * v. Nth Am Correlation Apartment Investment * v. Global Correlation
Apartment Investment * v. USA Correlation Apartment Investment * v. Equities
Apartment Investment * v. Bonds
Bloomberg: AHT US Reuters: AHT.N ISIN: US0441031095 SNL: AHT-US
217
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ashford Hospitality *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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0
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0
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Company: Ashford Hospitality * 79.5%
Country Index: USA 12.22%
Regional Index: North America 13.25%
Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04%
REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A
Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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0
jan
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3 Ashford Hospitality *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Ashford Hospitality * v. Nth Am Correlation Ashford Hospitality * v. Global Correlation
Ashford Hospitality * v. USA Correlation Ashford Hospitality * v. Equities
Ashford Hospitality * v. Bonds
Bloomberg: AEC US Reuters: AEC.N ISIN: US0456041054 SNL: AEC-US
218
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Associated Estates Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
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0
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0
jan
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1
Company: Associated Estates Realty * 22.98% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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jan
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3 Associated Estates Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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0
jan
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3 Associated Estates Realty * v. Nth Am Correlation
Associated Estates Realty * v. Global Correlation
Associated Estates Realty * v. USA Correlation
Associated Estates Realty * v. Equities
Associated Estates Realty * v. Bonds
Bloomberg: AVB US Reuters: AVB.N ISIN: US0534841012 SNL: AVB-US
219
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Avalonbay Communities *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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10
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Company: Avalonbay Communities * 35.7% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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c-1
0
jan
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3 Avalonbay Communities *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
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1
3 Avalonbay Communities * v. Nth Am Correlation Avalonbay Communities * v. Global Correlation
Avalonbay Communities * v. USA Correlation Avalonbay Communities * v. Equities
Avalonbay Communities * v. Bonds
Bloomberg: BMR US Reuters: BMR.N ISIN: US09063H1077 SNL: BMR-US
220
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
BioMed Realty Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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jan
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1
Company: BioMed Realty Trust * 20.46% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 BioMed Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 BioMed Realty Trust * v. Nth Am Correlation BioMed Realty Trust * v. Global Correlation
BioMed Realty Trust * v. USA Correlation BioMed Realty Trust * v. Equities
BioMed Realty Trust * v. Bonds
Bloomberg: BXP US Reuters: BXP.N ISIN: US1011211018 SNL: BXP-US
221
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Boston Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
v-1
0
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jan
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1
Company: Boston Properties * 41.3% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Boston Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
3 Boston Properties * v. Nth Am Correlation Boston Properties * v. Global Correlation
Boston Properties * v. USA Correlation Boston Properties * v. Equities
Boston Properties * v. Bonds
Bloomberg: BDN US Reuters: BDN.N ISIN: US1053682035 SNL: BDN-US
222
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Brandywine Realty Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: Brandywine Realty Trust * 10.09% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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3 Brandywine Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
me
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1
3 Brandywine Realty Trust * v. Nth Am Correlation Brandywine Realty Trust * v. Global Correlation
Brandywine Realty Trust * v. USA Correlation Brandywine Realty Trust * v. Equities
Brandywine Realty Trust * v. Bonds
Bloomberg: BRE US Reuters: BRE.N ISIN: US05564E1064 SNL: BRE-US
223
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
BRE Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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feb
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1
Company: BRE Properties * 24.87% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 BRE Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
me
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1
3 BRE Properties * v. Nth Am Correlation BRE Properties * v. Global Correlation
BRE Properties * v. USA Correlation BRE Properties * v. Equities
BRE Properties * v. Bonds
Bloomberg: CPT US Reuters: CPT.N ISIN: US1331311027 SNL: CPT-US
224
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Camden Property Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: Camden Property Trust * 40.84% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
3 Camden Property Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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1
me
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1
3 Camden Property Trust * v. Nth Am Correlation Camden Property Trust * v. Global Correlation
Camden Property Trust * v. USA Correlation Camden Property Trust * v. Equities
Camden Property Trust * v. Bonds
Bloomberg: CCG US Reuters: CCG.N ISIN: US13466Y1055 SNL: CCG-US
225
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Campus Crest Communities *
Graph 1: 12 Month Returns
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
0.90
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
Company: #DIV/0! Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Campus Crest Communities
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
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me
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3 #N/A Campus Crest Communities v. Global Correlation
Campus Crest Communities v. USA Correlation Campus Crest Communities v. Equities
Campus Crest Communities v. Bonds
Bloomberg: LSE US Reuters: LSE.N ISIN: US1402881015 SNL: LSE-US
226
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CapLease Inc.
Graph 1: 12 Month Returns
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Company: CapLease 0% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
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3%
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5%
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13 CapLease
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 #N/A CapLease v. Global Correlation CapLease v. USA Correlation
CapLease v. Equities CapLease v. Bonds
Bloomberg: CBL US Reuters: CBL.N ISIN: US1248301004 SNL: CBL-US
227
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
CBL & Associates Props *
Graph 1: 12 Month Returns
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Company: CBL & Associates Props * 34.64%
Country Index: USA 12.22%
Regional Index: North America 13.25%
Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04%
REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A
Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
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3%
4%
5%
6%
7%
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3 CBL & Associates Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 CBL & Associates Props * v. Nth Am Correlation CBL & Associates Props * v. Global Correlation
CBL & Associates Props * v. USA Correlation CBL & Associates Props * v. Equities
CBL & Associates Props * v. Bonds
Bloomberg: CDR US Reuters: CDR.N ISIN: US1506022094 SNL: CDR-US
228
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Cedar Shopping Centers *
Graph 1: 12 Month Returns
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Company: Cedar Shopping Centers * -22.85% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
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2%
3%
4%
5%
6%
7%
8%
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3 Cedar Shopping Centers *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Cedar Shopping Centers * v. Nth Am Correlation Cedar Shopping Centers * v. Global Correlation
Cedar Shopping Centers * v. USA Correlation Cedar Shopping Centers * v. Equities
Cedar Shopping Centers * v. Bonds
Bloomberg: CSA US Reuters: CSA.N ISIN: US19238U1079 SNL: CSA-US
229
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Cogdell Spencer
Graph 1: 12 Month Returns
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Company: Cogdell Spencer -10.58% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Non-Rental 22.05% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
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6%
7%
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3 Cogdell Spencer
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Cogdell Spencer v. Nth Am Correlation Cogdell Spencer v. Global Correlation
Cogdell Spencer v. USA Correlation Cogdell Spencer v. Equities
Cogdell Spencer v. Bonds
Bloomberg: CLP US Reuters: CLP.N ISIN: US1958721060 SNL: CLP-US
230
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Colonial Properties *
Graph 1: 12 Month Returns
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Company: Colonial Properties * 39.92% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
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3 Colonial Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Colonial Properties * v. Nth Am Correlation Colonial Properties * v. Global Correlation
Colonial Properties * v. USA Correlation Colonial Properties * v. Equities
Colonial Properties * v. Bonds
Bloomberg: OFC US Reuters: OFC.N ISIN: US22002T1088 SNL: OFC-US
231
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Corporate Office Props *
Graph 1: 12 Month Returns
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Company: Corporate Office Props * -6.57% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
me
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3 Corporate Office Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Corporate Office Props * v. Nth Am Correlation Corporate Office Props * v. Global Correlation
Corporate Office Props * v. USA Correlation Corporate Office Props * v. Equities
Corporate Office Props * v. Bonds
Bloomberg: CUZ US Reuters: CUZ.N ISIN: US2227951066 SNL: CUZ-US
232
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Cousins Properties *
Graph 1: 12 Month Returns
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Company: Cousins Properties * 15.65% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Non-Rental 22.05% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
me
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3 Cousins Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Cousins Properties * v. Nth Am Correlation Cousins Properties * v. Global Correlation
Cousins Properties * v. USA Correlation Cousins Properties * v. Equities
Cousins Properties * v. Bonds
Bloomberg: DCT US Reuters: DCT.N ISIN: US2331531051 SNL: DCT-US
233
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
DCT Industrial Trust *
Graph 1: 12 Month Returns
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Company: DCT Industrial Trust * 16.94% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Industrial 25.08%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 DCT Industrial Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 DCT Industrial Trust * v. Nth Am Correlation DCT Industrial Trust * v. Global Correlation
DCT Industrial Trust * v. USA Correlation DCT Industrial Trust * v. Equities
DCT Industrial Trust * v. Bonds
Bloomberg: DDR US Reuters: DDR.N ISIN: US2515911038 SNL: DDR-US
234
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Developers Diversified *
Graph 1: 12 Month Returns
0
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Company: Developers Diversified * 26.66% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
me
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3 Developers Diversified *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Developers Diversified * v. Nth Am Correlation Developers Diversified * v. Global Correlation
Developers Diversified * v. USA Correlation Developers Diversified * v. Equities
Developers Diversified * v. Bonds
Bloomberg: DRH US Reuters: DRH.N ISIN: US2527843013 SNL: DRH-US
235
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Diamondrock Hospitality *
Graph 1: 12 Month Returns
0
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Company: Diamondrock Hospitality * 25.82% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
me
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3 Diamondrock Hospitality *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Diamondrock Hospitality * v. Nth Am Correlation Diamondrock Hospitality * v. Global Correlation
Diamondrock Hospitality * v. USA Correlation Diamondrock Hospitality * v. Equities
Diamondrock Hospitality * v. Bonds
Bloomberg: DLR US Reuters: DLR.N ISIN: US2538681030 SNL: DLR-US
236
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Digital Realty Trust *
Graph 1: 12 Month Returns
0
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1,400
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Company: Digital Realty Trust * 9.59% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Specialty 0.41%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
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0
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3 Digital Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
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0
se
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10
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3 Digital Realty Trust * v. Nth Am Correlation Digital Realty Trust * v. Global Correlation
Digital Realty Trust * v. USA Correlation Digital Realty Trust * v. Equities
Digital Realty Trust * v. Bonds
Bloomberg: DEI US Reuters: DEI.N ISIN: US25960P1093 SNL: DEI-US
237
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Douglas Emmett *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
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jul-1
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Company: Douglas Emmett * 35.98% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
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0
jun
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jul-1
0
au
g-1
0
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10
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jan
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3 Douglas Emmett *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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jan
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3 Douglas Emmett * v. Nth Am Correlation Douglas Emmett * v. Global Correlation
Douglas Emmett * v. USA Correlation Douglas Emmett * v. Equities
Douglas Emmett * v. Bonds
Bloomberg: DRE US Reuters: DRE.N ISIN: US2644115055 SNL: DRE-US
238
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Duke Realty Corp *
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
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0
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10
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Company: Duke Realty Corp * 26.6% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office Mixed 7.56%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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0
jan
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feb
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3 Duke Realty Corp *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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0
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0
jan
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feb
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1
3 Duke Realty Corp * v. Nth Am Correlation Duke Realty Corp * v. Global Correlation
Duke Realty Corp * v. USA Correlation Duke Realty Corp * v. Equities
Duke Realty Corp * v. Bonds
Bloomberg: DFT US Reuters: DFT.N ISIN: US26613Q1067 SNL: DFT-US
239
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
DuPont Fabros Technology *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
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10
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Company: DuPont Fabros Technology * 2.35% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Specialty 0.41%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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jan
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3 DuPont Fabros Technology *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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0
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0
jan
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1
3 DuPont Fabros Technology * v. Nth Am Correlation
DuPont Fabros Technology * v. Global Correlation
DuPont Fabros Technology * v. USA Correlation
DuPont Fabros Technology * v. Equities
DuPont Fabros Technology * v. Bonds
Bloomberg: EGP US Reuters: EGP.N ISIN: US2772761019 SNL: EGP-US
240
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Eastgroup Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
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10
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Company: Eastgroup Properties * 26.85% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Industrial 25.08%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
okt-
10
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jan
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3 Eastgroup Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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0
jan
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feb
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3 Eastgroup Properties * v. Nth Am Correlation Eastgroup Properties * v. Global Correlation
Eastgroup Properties * v. USA Correlation Eastgroup Properties * v. Equities
Eastgroup Properties * v. Bonds
Bloomberg: EDR US Reuters: EDR.N ISIN: US28140H1041 SNL: EDR-US
241
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Education Realty Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
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10
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Company: Education Realty Trust * 36.79% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Education Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Education Realty Trust * v. Nth Am Correlation Education Realty Trust * v. Global Correlation
Education Realty Trust * v. USA Correlation Education Realty Trust * v. Equities
Education Realty Trust * v. Bonds
Bloomberg: EPR US Reuters: EPR.N ISIN: US29380T1051 SNL: EPR-US
242
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Entertainment Props *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
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0
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jan
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Company: Entertainment Props * 18.66% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Specialty 0.41%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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3 Entertainment Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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i-1
1
3 Entertainment Props * v. Nth Am Correlation Entertainment Props * v. Global Correlation
Entertainment Props * v. USA Correlation Entertainment Props * v. Equities
Entertainment Props * v. Bonds
Bloomberg: ELS US Reuters: ELS.N ISIN: US29472R1086 SNL: ELS-US
243
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Equity Lifestyle Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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feb
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1
Company: Equity Lifestyle Properties * 13.42% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Equity Lifestyle Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
me
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1
3 Equity Lifestyle Properties * v. Nth Am Correlation Equity Lifestyle Properties * v. Global Correlation
Equity Lifestyle Properties * v. USA Correlation Equity Lifestyle Properties * v. Equities
Equity Lifestyle Properties * v. Bonds
Bloomberg: EQY US Reuters: EQY.N ISIN: US2947521009 SNL: EQY-US
244
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Equity One Inc *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
v-1
0
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0
jan
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feb
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Company: Equity One Inc * 14.21% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Equity One Inc *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
3 Equity One Inc * v. Nth Am Correlation Equity One Inc * v. Global Correlation
Equity One Inc * v. USA Correlation Equity One Inc * v. Equities
Equity One Inc * v. Bonds
Bloomberg: EQR US Reuters: EQR.N ISIN: US29476L1070 SNL: EQR-US
245
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Equity Residential Props *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
okt-
10
no
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0
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c-1
0
jan
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feb
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1
Company: Equity Residential Props * 37% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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feb
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1
3 Equity Residential Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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1
me
i-1
1
3 Equity Residential Props * v. Nth Am Correlation Equity Residential Props * v. Global Correlation
Equity Residential Props * v. USA Correlation Equity Residential Props * v. Equities
Equity Residential Props * v. Bonds
Bloomberg: ESS US Reuters: ESS.N ISIN: US2971781057 SNL: ESS-US
246
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Essex Property Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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0
okt-
10
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0
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0
jan
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1
Company: Essex Property Trust * 30.77% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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me
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1
3 Essex Property Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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me
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1
3 Essex Property Trust * v. Nth Am Correlation Essex Property Trust * v. Global Correlation
Essex Property Trust * v. USA Correlation Essex Property Trust * v. Equities
Essex Property Trust * v. Bonds
Bloomberg: EXR US Reuters: EXR.N ISIN: US30225T1025 SNL: EXR-US
247
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Extra Space Storage *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Extra Space Storage * 44.68% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Self Storage 13.6%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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3 Extra Space Storage *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Extra Space Storage * v. Nth Am Correlation Extra Space Storage * v. Global Correlation
Extra Space Storage * v. USA Correlation Extra Space Storage * v. Equities
Extra Space Storage * v. Bonds
Bloomberg: FRT US Reuters: FRT.N ISIN: US3137472060 SNL: FRT-US
248
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Federal Realty Inv *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
Company: Federal Realty Inv * 18.86% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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i-1
1
3 Federal Realty Inv *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
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1
me
i-1
1
3 Federal Realty Inv * v. Nth Am Correlation Federal Realty Inv * v. Global Correlation
Federal Realty Inv * v. USA Correlation Federal Realty Inv * v. Equities
Federal Realty Inv * v. Bonds
Bloomberg: FCH US Reuters: FCH.N ISIN: US31430F1012 SNL: FCH-US
249
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Felcor Lodging Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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1
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1
Company: Felcor Lodging Trust * -7.84% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
3 Felcor Lodging Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Felcor Lodging Trust * v. Nth Am Correlation Felcor Lodging Trust * v. Global Correlation
Felcor Lodging Trust * v. USA Correlation Felcor Lodging Trust * v. Equities
Felcor Lodging Trust * v. Bonds
Bloomberg: FR US Reuters: FR.N ISIN: US32054K1034 SNL: FR-US
250
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
First Industrial Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
Company: First Industrial Realty * 88.04% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Industrial 25.08%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
3 First Industrial Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
3 First Industrial Realty * v. Nth Am Correlation First Industrial Realty * v. Global Correlation
First Industrial Realty * v. USA Correlation First Industrial Realty * v. Equities
First Industrial Realty * v. Bonds
Bloomberg: FPO US Reuters: FPO.N ISIN: US33610F1093 SNL: FPO-US
251
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
First Potomac Realty Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
Company: First Potomac Realty Trust * 14.15% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Industrial 25.08%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
3 First Potomac Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 First Potomac Realty Trust * v. Nth Am Correlation
First Potomac Realty Trust * v. Global Correlation
First Potomac Realty Trust * v. USA Correlation
First Potomac Realty Trust * v. Equities
First Potomac Realty Trust * v. Bonds
Bloomberg: FCE/A US Reuters: FCEa.N ISIN: US3455501078 SNL: FCE.A-US
252
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Forest City Enterprises
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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i-1
1
Company: Forest City Enterprises 44.57% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: Non-REIT 6.43%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
3 Forest City Enterprises
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Forest City Enterprises v. Nth Am Correlation Forest City Enterprises v. Global Correlation
Forest City Enterprises v. USA Correlation Forest City Enterprises v. Equities
Forest City Enterprises v. Bonds
Bloomberg: FSP US Reuters: FSP.N ISIN: US35471R1068 SNL: FSP-US
253
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Franklin Street Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
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i-1
1
Company: Franklin Street Properties * 10.85% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Franklin Street Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Franklin Street Properties * v. Nth Am Correlation Franklin Street Properties * v. Global Correlation
Franklin Street Properties * v. USA Correlation Franklin Street Properties * v. Equities
Franklin Street Properties * v. Bonds
Bloomberg: GTY US Reuters: GTY.N ISIN: US3742971092 SNL: GTY-US
254
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Getty Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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1
me
i-1
1
Company: Getty Realty * 16.26% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
3 Getty Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
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1
me
i-1
1
3 Getty Realty * v. Nth Am Correlation Getty Realty * v. Global Correlation
Getty Realty * v. USA Correlation Getty Realty * v. Equities
Getty Realty * v. Bonds
Bloomberg: GGP US Reuters: GGP.N ISIN: US3700231034 SNL: GGP-US
255
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
General Growth Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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1
Company: General Growth Properties 48.12% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
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1
me
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1
3 General Growth Properties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
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1
me
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1
3 #N/A General Growth Properties v. Global Correlation
General Growth Properties v. USA Correlation General Growth Properties v. Equities
General Growth Properties v. Bonds
Bloomberg: GRT US Reuters: GTY.N ISIN: US3793021029 SNL: GTY-US
256
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Glimcher Realty Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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me
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1
Company: Glimcher Realty Trust * 47.13% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Glimcher Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Glimcher Realty Trust * v. Nth Am Correlation Glimcher Realty Trust * v. Global Correlation
Glimcher Realty Trust * v. USA Correlation Glimcher Realty Trust * v. Equities
Glimcher Realty Trust * v. Bonds
Bloomberg: GOV US Reuters: GOV.N ISIN: US38376A1034 SNL: GOV-US
257
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Government Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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me
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1
Company: Government Properties * -0.53% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
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1
me
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1
3 Government Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
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g-1
0
se
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3 Government Properties * v. Nth Am Correlation
Government Properties * v. Global Correlation
Government Properties * v. USA Correlation
Government Properties * v. Equities
Government Properties * v. Bonds
Bloomberg: HCP US Reuters: HCP.N ISIN: US40414L1098 SNL: HCP-US
258
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
HCP *
Graph 1: 12 Month Returns
0
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600
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1,000
1,200
1,400
me
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Company: HCP * 19.08% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 HCP *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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3 HCP * v. Nth Am Correlation HCP * v. Global Correlation HCP * v. USA Correlation
HCP * v. Equities HCP * v. Bonds
Bloomberg: HCN US Reuters: HCN.N ISIN: US42217K1060 SNL: HCN-US
259
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Health Care REIT *
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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jul-1
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Company: Health Care REIT * 23.47% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Health Care REIT *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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3 Health Care REIT * v. Nth Am Correlation Health Care REIT * v. Global Correlation
Health Care REIT * v. USA Correlation Health Care REIT * v. Equities
Health Care REIT * v. Bonds
Bloomberg: HR US Reuters: HR.N ISIN: US4219461047 SNL: HR-US
260
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Healthcare Realty Trust *
Graph 1: 12 Month Returns
0
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800
1,000
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1,400
me
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Company: Healthcare Realty Trust * -3.97% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Healthcare Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
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0
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10
no
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jan
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3 Healthcare Realty Trust * v. Nth Am Correlation Healthcare Realty Trust * v. Global Correlation
Healthcare Realty Trust * v. USA Correlation Healthcare Realty Trust * v. Equities
Healthcare Realty Trust * v. Bonds
Bloomberg: HT US Reuters: HT.N ISIN: US4278251040 SNL: HT-US
261
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hersha Hospitality Trust *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
me
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jun
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jul-1
0
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Company: Hersha Hospitality Trust * 24.64% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
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3 Hersha Hospitality Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
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jul-1
0
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3 Hersha Hospitality Trust * v. Nth Am Correlation Hersha Hospitality Trust * v. Global Correlation
Hersha Hospitality Trust * v. USA Correlation Hersha Hospitality Trust * v. Equities
Hersha Hospitality Trust * v. Bonds
Bloomberg: HIW US Reuters: HIW.N ISIN: US4312841087 SNL: HIW-US
262
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Highwoods Properties *
Graph 1: 12 Month Returns
0
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1,000
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1,400
me
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jun
-10
jul-1
0
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Company: Highwoods Properties * 22.47% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Highwoods Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
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jan
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3 Highwoods Properties * v. Nth Am Correlation Highwoods Properties * v. Global Correlation
Highwoods Properties * v. USA Correlation Highwoods Properties * v. Equities
Highwoods Properties * v. Bonds
Bloomberg: HME US Reuters: HME.N ISIN: US4373061039 SNL: HME-US
263
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Home Props of New York *
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
i-1
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-10
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Company: Home Props of New York * 27.29% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 Home Props of New York *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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1
3 Home Props of New York * v. Nth Am Correlation Home Props of New York * v. Global Correlation
Home Props of New York * v. USA Correlation Home Props of New York * v. Equities
Home Props of New York * v. Bonds
Bloomberg: HPT US Reuters: HPT.N ISIN: US44106M1027 SNL: HPT-US
264
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hospitality Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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0
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10
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0
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jan
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1
Company: Hospitality Properties * 9.69% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
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au
g-1
0
se
p-1
0
okt-
10
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jan
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3 Hospitality Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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1
3 Hospitality Properties * v. Nth Am Correlation Hospitality Properties * v. Global Correlation
Hospitality Properties * v. USA Correlation Hospitality Properties * v. Equities
Hospitality Properties * v. Bonds
Bloomberg: HST US Reuters: HST.N ISIN: US44107P1049 SNL: HST-US
265
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Host Hotels & Resorts *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
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0
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10
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jan
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Company: Host Hotels & Resorts * 23.28% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
me
i-1
0
jun
-10
jul-1
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g-1
0
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p-1
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1
3 Host Hotels & Resorts *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
3 Host Hotels & Resorts * v. Nth Am Correlation Host Hotels & Resorts * v. Global Correlation
Host Hotels & Resorts * v. USA Correlation Host Hotels & Resorts * v. Equities
Host Hotels & Resorts * v. Bonds
Bloomberg: CWH US Reuters: CWH.N ISIN: US2032331017 SNL: CWH-US
266
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
HRPT Properties Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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10
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jan
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Company: HRPT Properties Trust * -2.76% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
jul-1
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0
se
p-1
0
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10
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0
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c-1
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jan
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3 HRPT Properties Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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3 HRPT Properties Trust * v. Nth Am Correlation HRPT Properties Trust * v. Global Correlation
HRPT Properties Trust * v. USA Correlation HRPT Properties Trust * v. Equities
HRPT Properties Trust * v. Bonds
Bloomberg: IRC US Reuters: IRC.N ISIN: US4574612002 SNL: IRC-US
267
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Inland Real Estate Corp *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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10
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jan
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Company: Inland Real Estate Corp * 9.6% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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p-1
0
okt-
10
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jan
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3 Inland Real Estate Corp *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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3 Inland Real Estate Corp * v. Nth Am Correlation Inland Real Estate Corp * v. Global Correlation
Inland Real Estate Corp * v. USA Correlation Inland Real Estate Corp * v. Equities
Inland Real Estate Corp * v. Bonds
Bloomberg: IRET US Reuters: IRET.OQ ISIN: US4617301035 SNL: IRET-US
268
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Investors Real Estate *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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0
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10
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0
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Company: Investors Real Estate * 11% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
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jul-1
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3 Investors Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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jan
-11
feb
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1
3 Investors Real Estate * v. Nth Am Correlation Investors Real Estate * v. Global Correlation
Investors Real Estate * v. USA Correlation Investors Real Estate * v. Equities
Investors Real Estate * v. Bonds
Bloomberg: KRC US Reuters: KRC.N ISIN: US49427F1084 SNL: KRC-US
269
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kilroy Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
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10
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-11
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Company: Kilroy Realty * 26.05% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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0
de
c-1
0
jan
-11
feb
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mrt
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1
3 Kilroy Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
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1
3 Kilroy Realty * v. Nth Am Correlation Kilroy Realty * v. Global Correlation
Kilroy Realty * v. USA Correlation Kilroy Realty * v. Equities
Kilroy Realty * v. Bonds
Bloomberg: KIM US Reuters: KIM.N ISIN: US49446R1095 SNL: KIM-US
270
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kimco Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
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10
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1
Company: Kimco Realty * 36.43% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
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1
3 Kimco Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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1
me
i-1
1
3 Kimco Realty * v. Nth Am Correlation Kimco Realty * v. Global Correlation
Kimco Realty * v. USA Correlation Kimco Realty * v. Equities
Kimco Realty * v. Bonds
Bloomberg: KRG US Reuters: KRG.N ISIN: US49803T1025 SNL: KRG-US
271
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Kite Realty Group Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
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0
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jan
-11
feb
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1
Company: Kite Realty Group Trust * 2.24% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Non-Rental 22.05% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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3 Kite Realty Group Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
-11
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me
i-1
1
3 Kite Realty Group Trust * v. Nth Am Correlation Kite Realty Group Trust * v. Global Correlation
Kite Realty Group Trust * v. USA Correlation Kite Realty Group Trust * v. Equities
Kite Realty Group Trust * v. Bonds
Bloomberg: LHO US Reuters: LHO.N ISIN: US5179421087 SNL: LHO-US
272
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
LaSalle Hotel Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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10
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Company: LaSalle Hotel Properties * 24.36% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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okt-
10
no
v-1
0
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c-1
0
jan
-11
feb
-11
mrt
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1
3 LaSalle Hotel Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
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jan
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1
3 LaSalle Hotel Properties * v. Nth Am Correlation LaSalle Hotel Properties * v. Global Correlation
LaSalle Hotel Properties * v. USA Correlation LaSalle Hotel Properties * v. Equities
LaSalle Hotel Properties * v. Bonds
Bloomberg: LXP US Reuters: LXP.N ISIN: US5290431015 SNL: LXP-US
273
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Lexington Corporate *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
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10
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Company: Lexington Corporate * 52.01% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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c-1
0
jan
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feb
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3 Lexington Corporate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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1
3 Lexington Corporate * v. Nth Am Correlation Lexington Corporate * v. Global Correlation
Lexington Corporate * v. USA Correlation Lexington Corporate * v. Equities
Lexington Corporate * v. Bonds
Bloomberg: LRY US Reuters: LRY.N ISIN: US5311721048 SNL: LRY-US
274
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Liberty Property Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
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0
okt-
10
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Company: Liberty Property Trust * 17.04% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office Mixed 7.56%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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jan
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feb
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3 Liberty Property Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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me
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1
3 Liberty Property Trust * v. Nth Am Correlation Liberty Property Trust * v. Global Correlation
Liberty Property Trust * v. USA Correlation Liberty Property Trust * v. Equities
Liberty Property Trust * v. Bonds
Bloomberg: LTC US Reuters: LTC.N ISIN: US5021751020 SNL: LTC-US
275
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
LTC Properties *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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feb
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Company: LTC Properties * 14.91% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
3 LTC Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
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1
me
i-1
1
3 LTC Properties * v. Nth Am Correlation LTC Properties * v. Global Correlation
LTC Properties * v. USA Correlation LTC Properties * v. Equities
LTC Properties * v. Bonds
Bloomberg: CLI US Reuters: CLI.N ISIN: US5544891048 SNL: CLI-US
276
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mack-Cali Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
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0
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c-1
0
jan
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feb
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1
Company: Mack-Cali Realty * 7.22% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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1
3 Mack-Cali Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Mack-Cali Realty * v. Nth Am Correlation Mack-Cali Realty * v. Global Correlation
Mack-Cali Realty * v. USA Correlation Mack-Cali Realty * v. Equities
Mack-Cali Realty * v. Bonds
Bloomberg: MPW US Reuters: MPW.N ISIN: US58463J3041 SNL: MPW-US
277
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Medical Properties Trust *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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1
Company: Medical Properties Trust * 29.42% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
3 Medical Properties Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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1
me
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1
3 Medical Properties Trust * v. Nth Am Correlation Medical Properties Trust * v. Global Correlation
Medical Properties Trust * v. USA Correlation Medical Properties Trust * v. Equities
Medical Properties Trust * v. Bonds
Bloomberg: MAA US Reuters: MAA.N ISIN: US59522J1034 SNL: MAA-US
278
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mid-America Apartment *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
Company: Mid-America Apartment * 25.48% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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1
3 Mid-America Apartment *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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1
me
i-1
1
3 Mid-America Apartment * v. Nth Am Correlation Mid-America Apartment * v. Global Correlation
Mid-America Apartment * v. USA Correlation Mid-America Apartment * v. Equities
Mid-America Apartment * v. Bonds
#N/A
279
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
National Healthcare Corp. *
Graph 1: 12 Month Returns
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Company: #N/A Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
me
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3 National Healthcare Corp. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 National Healthcare Corp. * v. Nth Am Correlation National Healthcare Corp. * v. Global Correlation
National Healthcare Corp. * v. USA Correlation National Healthcare Corp. * v. Equities
National Healthcare Corp. * v. Bonds
Bloomberg: NNN US Reuters: NNN.N ISIN: US6374171063 SNL: NNN-US
280
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
National Retail Properties *
Graph 1: 12 Month Returns
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Company: National Retail Properties * 17.29% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
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4%
5%
6%
7%
8%
me
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3 National Retail Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 National Retail Properties * v. Nth Am Correlation National Retail Properties * v. Global Correlation
National Retail Properties * v. USA Correlation National Retail Properties * v. Equities
National Retail Properties * v. Bonds
Bloomberg: NHP US Reuters: NHP.N ISIN: US6386201049 SNL: NHP-US
281
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Nationwide Health Props *
Graph 1: 12 Month Returns
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Company: Nationwide Health Props * 23.42% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 Nationwide Health Props *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Nationwide Health Props * v. Nth Am Correlation Nationwide Health Props * v. Global Correlation
Nationwide Health Props * v. USA Correlation Nationwide Health Props * v. Equities
Nationwide Health Props * v. Bonds
Bloomberg: OHI US Reuters: OHI.N ISIN: US6819361006 SNL: OHI-US
282
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Omega Healthcare Investors *
Graph 1: 12 Month Returns
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Company: Omega Healthcare Investors * 7.2% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
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3%
4%
5%
6%
7%
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3 Omega Healthcare Investors *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Omega Healthcare Investors * v. Nth Am Correlation
Omega Healthcare Investors * v. Global Correlation
Omega Healthcare Investors * v. USA Correlation
Omega Healthcare Investors * v. Equities
Omega Healthcare Investors * v. Bonds
Bloomberg: OEH US Reuters: OEH.N ISIN: BMG677431071 SNL: OEH-US
283
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Orient Express Hotel
Graph 1: 12 Month Returns
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Company: Orient Express Hotel 15.86% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: Non-REIT 6.43%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
me
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3 Orient Express Hotel
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Orient Express Hotel v. Nth Am Correlation Orient Express Hotel v. Global Correlation
Orient Express Hotel v. USA Correlation Orient Express Hotel v. Equities
Orient Express Hotel v. Bonds
Bloomberg: PKY US Reuters: PKY.N ISIN: US70159Q1040 SNL: PKY-US
284
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Parkway Properties *
Graph 1: 12 Month Returns
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Company: Parkway Properties * 8.96% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
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3 Parkway Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Parkway Properties * v. Nth Am Correlation Parkway Properties * v. Global Correlation
Parkway Properties * v. USA Correlation Parkway Properties * v. Equities
Parkway Properties * v. Bonds
Bloomberg: PEI US Reuters: PEI.N ISIN: US7091021078 SNL: PEI-US
285
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Pennsylvania Real Estate *
Graph 1: 12 Month Returns
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Company: Pennsylvania Real Estate * 24.44% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
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3 Pennsylvania Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Pennsylvania Real Estate * v. Nth Am Correlation Pennsylvania Real Estate * v. Global Correlation
Pennsylvania Real Estate * v. USA Correlation Pennsylvania Real Estate * v. Equities
Pennsylvania Real Estate * v. Bonds
Bloomberg: PDM US Reuters: PDM.N ISIN: US7201902068 SNL: PDM-US
286
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Piedmont Office Realty Trust
Graph 1: 12 Month Returns
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Company: Piedmont Office Realty Trust 8.32% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Piedmont Office Realty Trust
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Piedmont Office Realty Trust v. Nth Am Correlation
Piedmont Office Realty Trust v. Global Correlation
Piedmont Office Realty Trust v. USA Correlation
Piedmont Office Realty Trust v. Equities
Piedmont Office Realty Trust v. Bonds
Bloomberg: PPS US Reuters: PPS.N ISIN: US7374641071 SNL: PPS-US
287
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Post Properties *
Graph 1: 12 Month Returns
0
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1,800
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Company: Post Properties * 67.86% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
me
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3 Post Properties *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Post Properties * v. Nth Am Correlation Post Properties * v. Global Correlation
Post Properties * v. USA Correlation Post Properties * v. Equities
Post Properties * v. Bonds
Bloomberg: PLD US Reuters: PLD.N ISIN: US7434101025 SNL: PLD-US
288
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Prologis *
Graph 1: 12 Month Returns
0
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me
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Company: Prologis * 45.52% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Industrial 25.08%
Investment Focus Index: Non-Rental 22.05% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Prologis *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Prologis * v. Europe Correlation Prologis * v. Global Correlation
Prologis * v. USA Correlation Prologis * v. Equities
Prologis * v. Bonds
Bloomberg: PSB US Reuters: PSB.A ISIN: US69360J1079 SNL: PSB-US
289
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
PS Business Parks *
Graph 1: 12 Month Returns
0
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600
800
1,000
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1,400
me
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Company: PS Business Parks * 6.64% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office Mixed 7.56%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
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0
jun
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0
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3 PS Business Parks *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 PS Business Parks * v. Nth Am Correlation PS Business Parks * v. Global Correlation
PS Business Parks * v. USA Correlation PS Business Parks * v. Equities
PS Business Parks * v. Bonds
Bloomberg: PSA US Reuters: PSA.N ISIN: US74460D1090 SNL: PSA-US
290
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Public Storage *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Public Storage * 27.67% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Self Storage 13.6%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Public Storage *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Public Storage * v. Nth Am Correlation Public Storage * v. Global Correlation
Public Storage * v. USA Correlation Public Storage * v. Equities
Public Storage * v. Bonds
Bloomberg: RPT US Reuters: RPT.N ISIN: US7514522025 SNL: RPT-US
291
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ramco-Gershenson *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Ramco-Gershenson * 21.55% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ramco-Gershenson *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ramco-Gershenson * v. Nth Am Correlation Ramco-Gershenson * v. Global Correlation
Ramco-Gershenson * v. USA Correlation Ramco-Gershenson * v. Equities
Ramco-Gershenson * v. Bonds
Bloomberg: O US Reuters: O.N ISIN: US7561091049 SNL: O-US
292
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Realty Income *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Realty Income * 12.85% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Realty Income *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Realty Income * v. Nth Am Correlation Realty Income * v. Global Correlation
Realty Income * v. USA Correlation Realty Income * v. Equities
Realty Income * v. Bonds
Bloomberg: REG US Reuters: REG.N ISIN: US7588491032 SNL: REG-US
293
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Regency Centers *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
Company: Regency Centers * 26.01% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Regency Centers *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Regency Centers * v. Nth Am Correlation Regency Centers * v. Global Correlation
Regency Centers * v. USA Correlation Regency Centers * v. Equities
Regency Centers * v. Bonds
Bloomberg: ROIC US Reuters: ROIC.N ISIN: US76131N1019 SNL: ROIC-US
294
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Retail Opportunity Investments Corp. *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Retail Opportunity Investment Corp. * 13.46%Country Index: USA 12.22%Regional Index: North America 13.25%Blue Chip Index: #N/ASector Index: Retail 16.05%
Graph 2: 12 Month Dividend Yields
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Retail Opportunity Investment Corp. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
#N/A
Retail Opportunity Investment Corp. * v. Global Correlation
Retail Opportunity Investment Corp. * v. USA Correlation
Retail Opportunity Investment Corp. * v. Equities
Retail Opportunity Investment Corp. * v. Bonds
Bloomberg: BFS US Reuters: BFS.N ISIN: US8043951016 SNL: BFS-US
295
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Saul Centers *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Saul Centers * 4.09% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Saul Centers *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Saul Centers * v. Nth Am Correlation Saul Centers * v. Global Correlation
Saul Centers * v. USA Correlation Saul Centers * v. Equities
Saul Centers * v. Bonds
Bloomberg: SNH US Reuters: SNH.N ISIN: US81721M1099 SNL: SNH-US
296
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Senior Housing Prop *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Senior Housing Prop * 15.88% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Senior Housing Prop *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Senior Housing Prop * v. Nth Am Correlation Senior Housing Prop * v. Global Correlation
Senior Housing Prop * v. USA Correlation Senior Housing Prop * v. Equities
Senior Housing Prop * v. Bonds
Bloomberg: SPG US Reuters: SPG.N ISIN: US8288061091 SNL: SPG-US
297
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Simon Property Group *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Company: Simon Property Group * 38.85% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Simon Property Group *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Simon Property Group * v. Nth Am Correlation Simon Property Group * v. Global Correlation
Simon Property Group * v. USA Correlation Simon Property Group * v. Equities
Simon Property Group * v. Bonds
Bloomberg: SLG US Reuters: SLG.N ISIN: US78440X1019 SNL: SLG-US
298
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
SL Green Realty *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Company: SL Green Realty * 44.5% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Office 11.8%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.1%
0.2%
0.3%
0.4%
0.5%
0.6%
0.7%
0.8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 SL Green Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 SL Green Realty * v. Nth Am Correlation SL Green Realty * v. Global Correlation
SL Green Realty * v. USA Correlation SL Green Realty * v. Equities
SL Green Realty * v. Bonds
Bloomberg: SSS US Reuters: SSS.N ISIN: US84610H1086 SNL: SSS-US
299
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sovran Self Storage *
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Sovran Self Storage * 16.46% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Self Storage 13.6%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Sovran Self Storage *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Sovran Self Storage * v. Nth Am Correlation Sovran Self Storage * v. Global Correlation
Sovran Self Storage * v. USA Correlation Sovran Self Storage * v. Equities
Sovran Self Storage * v. Bonds
Bloomberg: BEE US Reuters: BEE.N ISIN: US86272T1060 SNL: BEE-US
300
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Strategic Hotels & Resorts *
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: #N/A Country Index: #N/A Regional Index: #N/A
Sector Index: #N/A Investment Focus Index: #N/A REIT-Structure Index: #N/A
Blue Chip Index: #N/A Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
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3 Strategic Hotels & Resorts
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 #N/A Strategic Hotels & Resorts v. Global Correlation
Strategic Hotels & Resorts v. USA Correlation Strategic Hotels & Resorts v. Equities
Strategic Hotels & Resorts v. Bonds
Bloomberg: SUI US Reuters: SUI.N ISIN: US8666741041 SNL: SUI-US
301
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sun Communities *
Graph 1: 12 Month Returns
0
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1,000
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1,600
me
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Company: Sun Communities * 34.69% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
me
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3 Sun Communities *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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3 Sun Communities * v. Nth Am Correlation Sun Communities * v. Global Correlation
Sun Communities * v. USA Correlation Sun Communities * v. Equities
Sun Communities * v. Bonds
Bloomberg: SHO US Reuters: SHO.N ISIN: US8678921011 SNL: SHO-US
302
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sunstone Hotel Investors *
Graph 1: 12 Month Returns
0
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1,000
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1,400
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Company: Sunstone Hotel Investors * -7.8% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Lodging/Resorts 4.78%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
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3 Sunstone Hotel Investors *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jun
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jul-1
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3 Sunstone Hotel Investors * v. Nth Am Correlation Sunstone Hotel Investors * v. Global Correlation
Sunstone Hotel Investors * v. USA Correlation Sunstone Hotel Investors * v. Equities
Sunstone Hotel Investors * v. Bonds
Bloomberg: SKT US Reuters: SKT.N ISIN: US8754651060 SNL: SKT-US
303
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Tanger Factory Outlet *
Graph 1: 12 Month Returns
0
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1,000
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1,400
me
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Company: Tanger Factory Outlet * 31.96% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
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3 Tanger Factory Outlet *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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3 Tanger Factory Outlet * v. Nth Am Correlation Tanger Factory Outlet * v. Global Correlation
Tanger Factory Outlet * v. USA Correlation Tanger Factory Outlet * v. Equities
Tanger Factory Outlet * v. Bonds
Bloomberg: TCO US Reuters: TCO.N ISIN: US8766641034 SNL: TCO-US
304
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Taubman Centers *
Graph 1: 12 Month Returns
0
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Company: Taubman Centers * 50.17% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
me
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3 Taubman Centers *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Taubman Centers * v. Nth Am Correlation Taubman Centers * v. Global Correlation
Taubman Centers * v. USA Correlation Taubman Centers * v. Equities
Taubman Centers * v. Bonds
Bloomberg: MAC US Reuters: MAC.N ISIN: US5543821012 SNL: MAC-US
305
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
The Macerich Company *
Graph 1: 12 Month Returns
0
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Company: The Macerich Company * 31.46% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 The Macerich Company *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 The Macerich Company * v. Nth Am Correlation The Macerich Company * v. Global Correlation
The Macerich Company * v. USA Correlation The Macerich Company * v. Equities
The Macerich Company * v. Bonds
Bloomberg: UDR US Reuters: UDR.N ISIN: US9026531049 SNL: UDR-US
306
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
UDR Inc. *
Graph 1: 12 Month Returns
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Company: UDR Inc. * 28.18% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Residential 17.84%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
me
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3 UDR Inc. *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 UDR Inc. * v. Nth Am Correlation UDR Inc. * v. Global Correlation
UDR Inc. * v. USA Correlation UDR Inc. * v. Equities
UDR Inc. * v. Bonds
Bloomberg: UHT US Reuters: UHT.N ISIN: US91359E1055 SNL: UHT-US
307
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Universal Health Realty *
Graph 1: 12 Month Returns
0
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600
800
1,000
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1,400
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Company: Universal Health Realty * 32.98% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
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3 Universal Health Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Universal Health Realty * v. Nth Am Correlation Universal Health Realty * v. Global Correlation
Universal Health Realty * v. USA Correlation Universal Health Realty * v. Equities
Universal Health Realty * v. Bonds
Bloomberg: UBA US Reuters: UBA.N ISIN: US9172862057 SNL: UBA-US
308
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Urstadt Biddle Class A *
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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Company: Urstadt Biddle Class A * 14.46% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Urstadt Biddle Class A *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Urstadt Biddle Class A * v. Nth Am Correlation Urstadt Biddle Class A * v. Global Correlation
Urstadt Biddle Class A * v. USA Correlation Urstadt Biddle Class A * v. Equities
Urstadt Biddle Class A * v. Bonds
Bloomberg: YSI US Reuters: YSI.N ISIN: US91274F1049 SNL: YSI-US
309
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
U-Store-It Trust *
Graph 1: 12 Month Returns
0
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600
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1,000
1,200
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1,600
me
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Company: U-Store-It Trust * 37.1% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Self Storage 13.6%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
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3 U-Store-It Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
0
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0
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10
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3 U-Store-It Trust * v. Nth Am Correlation U-Store-It Trust * v. Global Correlation
U-Store-It Trust * v. USA Correlation U-Store-It Trust * v. Equities
U-Store-It Trust * v. Bonds
Bloomberg: VTR US Reuters: VTR.N ISIN: US92276F1003 SNL: VTR-US
310
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ventas *
Graph 1: 12 Month Returns
0
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1,400
me
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Company: Ventas * 20.13% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Health Care 7.48%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
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0
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3 Ventas *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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me
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3 Ventas * v. Nth Am Correlation Ventas * v. Global Correlation
Ventas * v. USA Correlation Ventas * v. Equities
Ventas * v. Bonds
Bloomberg: VNO US Reuters: VNO.N ISIN: US9290421091 SNL: VNO-US
311
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Vornado Realty Trust *
Graph 1: 12 Month Returns
0
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1,000
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1,400
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Company: Vornado Realty Trust * 26.65% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
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3 Vornado Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Vornado Realty Trust * v. Nth Am Correlation Vornado Realty Trust * v. Global Correlation
Vornado Realty Trust * v. USA Correlation Vornado Realty Trust * v. Equities
Vornado Realty Trust * v. Bonds
Bloomberg: WRE US Reuters: WRE.N ISIN: US9396531017 SNL: WRE-US
312
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Washington Real Estate *
Graph 1: 12 Month Returns
0
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600
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1,000
1,200
1,400
me
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Company: Washington Real Estate * 17.53% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
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3 Washington Real Estate *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Washington Real Estate * v. Nth Am Correlation Washington Real Estate * v. Global Correlation
Washington Real Estate * v. USA Correlation Washington Real Estate * v. Equities
Washington Real Estate * v. Bonds
Bloomberg: WRI US Reuters: WRI.N ISIN: US9487411038 SNL: WRI-US
313
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Weingarten Realty *
Graph 1: 12 Month Returns
0
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1,000
1,200
1,400
me
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Company: Weingarten Realty * 27.61% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Retail 16.05%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 Weingarten Realty *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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no
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3 Weingarten Realty * v. Nth Am Correlation Weingarten Realty * v. Global Correlation
Weingarten Realty * v. USA Correlation Weingarten Realty * v. Equities
Weingarten Realty * v. Bonds
Bloomberg: FUR US Reuters: FUR.N ISIN: US9763913004 SNL: FUR-US
314
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Winthrop Realty Trust *
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
me
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Company: Winthrop Realty Trust * -4.14% Country Index: USA 12.22%
Regional Index: North America 13.25% Sector Index: Diversified 15.06%
Investment Focus Index: Rental 13.04% REIT-Structure Index: REIT 12.24%
Blue Chip Index: #N/A Bond Index: JPMTUS 4.67%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
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3 Winthrop Realty Trust *
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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3 Winthrop Realty Trust * v. Nth Am Correlation Winthrop Realty Trust * v. Global Correlation
Winthrop Realty Trust * v. USA Correlation Winthrop Realty Trust * v. Equities
Winthrop Realty Trust * v. Bonds
Section 4
315
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Emerging Markets & AIM
Section 4.1
316
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Brazil
Bloomberg: ALSC3 BZ Reuters: ALSC3.SA ISIN: BRALSCACNOR0 SNL: ALSC3.BSP
317
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Aliansce Shopping Centers SA
Graph 1: 12 Month Returns
0
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1,000
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1,400
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Company: Aliansce Shopping Centers SA 30.28% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
me
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3 Aliansce Shopping Centers SA
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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Aliansce Shopping Centers SA v. Emerging Correlation
Aliansce Shopping Centers SA v. Global Correlation
Bloomberg: BISA3 BZ Reuters: BISA3.SA ISIN: BRBISAACNOR8 SNL: BISA3-BSP
318
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Brookfield Incorporacoes SA
Graph 1: 12 Month Returns
0
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Company: Brookfield Incorporacoes SA 6.66% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
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3 Brookfield Incorporacoes SA
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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Brookfield Incorporacoes SA v. Emerging Correlation
Brookfield Incorporacoes SA v. Global Correlation
Bloomberg: BRML3 BZ Reuters: BRML3.SA ISIN: BRBRMLACNOR9 SNL: BRML3-BSP
319
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
BR Malls Participacoes S/A Ord
Graph 1: 12 Month Returns
0
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600
800
1,000
1,200
1,400
1,600
1,800
me
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Company: BR Malls Participacoes S/A Ord 57.41% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
me
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3 BR Malls Participacoes S/A Ord
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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0
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jul-1
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g-1
0
se
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0
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10
no
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jan
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1
BR Malls Participacoes S/A Ord v. Emerging Correlation
BR Malls Participacoes S/A Ord v. Global Correlation
Bloomberg: BRPR3 BZ Reuters: BRPR3.SA ISIN: BRBRPRACNOR9 SNL: BRPR3-BSP
320
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
BR Properties S/A Ord
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
1,800
me
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Company: BR Properties S/A Ord 55.09% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
me
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3 BR Properties S/A Ord
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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me
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1
BR Properties S/A Ord v. Emerging Correlation
BR Properties S/A Ord v. Global Correlation
Bloomberg: CCIM3 BZ Reuters: CCIM3.SA ISIN: BRCCIMACNOR5 SNL: CCIM3-BSP
321
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Camargo Correa Desenvolvimento Imobiliario S/A Ord
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
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jul-1
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Company: Camargo Correa Desenvolvimento Imobiliario S/A Ord 1.44%
Global Index: Brazil 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
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jul-1
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10
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jan
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3 Camargo Correa Desenvolvimento Imobiliario S/A Ord
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
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g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
me
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1
Camargo Correa Desenvolvimento Imobiliario S/A Ord v. Emerging Correlation
Camargo Correa Desenvolvimento Imobiliario S/A Ord v. Global Correlation
Bloomberg: CYRE3 BZ Reuters: CYRE3.SA ISIN: BRCYREACNOR7 SNL: CYRE3-BSP
322
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Cyrela Brazil Realty S/A Empreendimentose e Participacoes Or
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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jun
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0
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okt-
10
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jan
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Company: Cyrela Brazil Realty S/A Empreendimentose e Participacoes Or -14.43%
Global Index: Brazil 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
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jun
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jul-1
0
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g-1
0
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p-1
0
okt-
10
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v-1
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jan
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3 Cyrela Brazil Realty S/A Empreendimentose e Participacoes Or
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
au
g-1
0
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p-1
0
okt-
10
no
v-1
0
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0
jan
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1
Cyrela Brazil Realty S/A Empreendimentose e Participacoes Or v. Emerging Correlation
Cyrela Brazil Realty S/A Empreendimentose e Participacoes Or v. Global Correlation
Bloomberg: GFSA3 BZ Reuters: GFSA3.SA ISIN: BRGFSAACNOR3 SNL: GFSA3.BSP
323
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Gafisa
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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10
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Company: Gafisa -20.91% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
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au
g-1
0
se
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0
okt-
10
no
v-1
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c-1
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jan
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3 Gafisa
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Gafisa v. Emerging Correlation
Gafisa v. Global Correlation
Bloomberg: GSHP3 BZ Reuters: GSHP3.SA ISIN: BRGSHPACNOR7 SNL: GSHP3-BSP
324
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
General Shopping Brasil
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Brookfield Incorporacoes SA 6.66% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Brookfield Incorporacoes SA
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Brookfield Incorporacoes SA v. Emerging Correlation
Brookfield Incorporacoes SA v. Global Correlation
Bloomberg: HBOR3 BZ Reuters: HBOR3.SA ISIN: BRHBORACNOR3 SNL: HBOR3-BSP
325
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Helbor Empreendimentos S.A.
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Helbor Empreendimentos S.A. 84.62% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Helbor Empreendimentos S.A.
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Helbor Empreendimentos S.A. v. Emerging Correlation
Helbor Empreendimentos S.A. v. Global Correlation
Bloomberg: IGTA3 BZ Reuters: IGTA3.SA ISIN: BRIGTAACNOR5 SNL: IGTA3-BSP
326
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Iguatemi Empresa de Shopping Centers S/A Ord
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Iguatemi Empresa de Shopping Centers S/A Ord 35.14%
Global Index: Brazil 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Iguatemi Empresa de Shopping Centers S/A Ord
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Iguatemi Empresa de Shopping Centers S/A Ord v. Emerging Correlation
Iguatemi Empresa de Shopping Centers S/A Ord v. Global Correlation
Bloomberg: INPR3 BZ Reuters: INPR3.SA ISIN: BRVIVRACNOR4 SNL: INPR3-BSP
327
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Inpar SA
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Inpar SA -0.36% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Inpar SA
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Inpar SA v. Emerging Correlation
Inpar SA v. Global Correlation
Bloomberg: JHSF3 BZ Reuters: JHSF3.SA ISIN: BRJHSFACNOR2 SNL: JHSF3-BSP
328
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
JHSF Participacoes SA
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: JHSF Participacoes SA 94.21% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 JHSF Participacoes SA
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 JHSF Participacoes SA v. Emerging Correlation 3 JHSF Participacoes SA v. Global Correlation
Bloomberg: MRVE3 BZ Reuters: MRVE3.SA ISIN: BRMRVEACNOR2 SNL: MRVE3-BSP
329
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
MRV Engenharia e Participacoes SA
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: MRV Engenharia e Participacoes SA 23.1%
Global Index: Brazil 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 MRV Engenharia e Participacoes SA
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
MRV Engenharia e Participacoes SA v. Emerging Correlation
MRV Engenharia e Participacoes SA v. Global Correlation
Bloomberg: MULT3 BZ Reuters: MULT3.SA ISIN: BRMULTACNOR5 SNL: MULT3-BSP
330
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Multiplan Empreendimentos Imobiliaros S/A Ord
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Multiplan Empreendimentos Imobiliaros S/A Ord 6.76%
Global Index: Brazil 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Multiplan Empreendimentos Imobiliaros S/A Ord
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Multiplan Empreendimentos Imobiliaros S/A Ord v. Emerging Correlation
Multiplan Empreendimentos Imobiliaros S/A Ord v. Global Correlation
Bloomberg: PDGR3 BZ Reuters: PDGR3.SA ISIN: BRPDGRACNOR8 SNL: PDGR3-BSP
331
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
PDG Realty S/A Empreendimentos e Participacoes Ord
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: PDG Realty S/A Empreendimentos e Participacoes Ord 29.33%Global Index: Brazil 3.13%Regional Index: Emerging -2.1%Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
1.80%
2.00%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 PDG Realty S/A Empreendimentos eParticipacoes Ord
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
PDG Realty S/A Empreendimentos e ParticipacoesOrd v. Emerging Correlation
PDG Realty S/A Empreendimentos e ParticipacoesOrd v. Global Correlation
Bloomberg: RDNI3 BZ Reuters: RDNI3.SA ISIN: BRRDNIACNOR9 SNL: RDNI3-BSP
332
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Rodobens Negocios Imobiliarios S/A Ord
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Company: Rodobens Negocios Imobiliarios S/A Ord 26.05%
Global Index: Brazil 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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ap
r-1
1
me
i-1
1
3 Rodobens Negocios Imobiliarios S/A Ord
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Rodobens Negocios Imobiliarios S/A Ord v. Emerging Correlation
Rodobens Negocios Imobiliarios S/A Ord v. Global Correlation
Bloomberg: TCSA3 BZ Reuters: TCSA3.SA ISIN: BRTCSAACNOR3 SNL: TCSA3-BSP
333
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Tecnisa S.A.
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Tecnisa S.A. 74.26% Global Index: Brazil 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: IBOV 9.93%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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ap
r-1
1
me
i-1
1
3 Tecnisa S.A.
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Tecnisa S.A. v. Emerging Correlation
3 Tecnisa S.A. v. Global Correlation
Section 4.2
334
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Chile
Bloomberg: PARAUCO CI Reuters: CYRE3.SA ISIN: CLP763281068 SNL: CYRE3-BSP
335
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Parauco Arauco
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Parauco Arauco 68.04% Global Index: Chile 3.13%
Regional Index: #N/A Blue Chip Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
1%
2%
2%
2%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
3 Parauco Arauco
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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jul-1
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g-1
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3 #N/A 3 Parauco Arauco v. Global Correlation
Section 4.3
336
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Version: May 2011
China
Bloomberg: 588 HK Reuters: 601588.SS ISIN: CNE100000262 SNL: -NA-
337
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Beijing North Star (H)
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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Company: Beijing North Star (H) -6.74% Global Index: China 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
me
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0
jun
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jul-1
0
au
g-1
0
se
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10
no
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3 Beijing North Star (H)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
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-10
jul-1
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g-1
0
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10
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Beijing North Star (H) v. Emerging Correlation
Beijing North Star (H) v. Global Correlation
Bloomberg: 200024 CH Reuters: 000024.SZ ISIN: CNE000000891 SNL: -NA-
338
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Version: May 2011
China Merchants Prop (B)
Graph 1: 12 Month Returns
0
200
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600
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1,000
1,200
1,400
me
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Company: China Merchants Prop (B) 10.02% Global Index: China 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
0.80%
0.90%
1.00%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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3 China Merchants Prop (B)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
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g-1
0
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0
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10
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China Merchants Prop (B) v. Emerging Correlation
China Merchants Prop (B) v. Global Correlation
Bloomberg: 2777 HK Reuters: 2777.HK ISIN: CNE100000569 SNL: -NA-
339
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Version: May 2011
Guangzhou R&F Properties (H)
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
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jul-1
0
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g-1
0
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okt-
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jan
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Company: Guangzhou R&F Properties (H) 9.63% Global Index: China 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
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okt-
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v-1
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3 Guangzhou R&F Properties (H)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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i-1
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Guangzhou R&F Properties (H) v. Emerging Correlation
Guangzhou R&F Properties (H) v. Global Correlation
Bloomberg: 119 HK Reuters: 600119.SS ISIN: HK0119000674 SNL: -NA-
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Version: May 2011
Poly (Hong Kong) Investments (Red Chip)
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
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jun
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jul-1
0
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g-1
0
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0
okt-
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Company: Poly (Hong Kong) Investments (Red Chip) -31.46%
Global Index: China 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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3 Poly (Hong Kong) Investments (Red Chip)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
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g-1
0
se
p-1
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okt-
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v-1
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jan
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i-1
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3 Poly (Hong Kong) Investments (Red Chip) v. Emerging Correlation
3 Poly (Hong Kong) Investments (Red Chip) v. Global Correlation
Bloomberg: 900932 CH Reuters: 600663.SS ISIN: CNE000000HH6 SNL: -NA-
341
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Version: May 2011
Shanghai Lujiazui Fin & Trade Dev (B)
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
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jun
-10
jul-1
0
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g-1
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okt-
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v-1
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jan
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Company: Shanghai Lujiazui Fin & Trade Dev (B) -7.46%
Global Index: China 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
1.80%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
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okt-
10
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jan
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3 Shanghai Lujiazui Fin & Trade Dev (B)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
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no
v-1
0
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jan
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Shanghai Lujiazui Fin & Trade Dev (B) v. Emerging Correlation
Shanghai Lujiazui Fin & Trade Dev (B) v. Global Correlation
Bloomberg: 200002 CH Reuters: 000002.SZ ISIN: CNE0000008Q1 SNL: -NA-
342
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Shenzhen Vanke (B)
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
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-10
jul-1
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Company: Shenzhen Vanke (B) 35.1% Global Index: China 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
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jan
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3 Shenzhen Vanke (B)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
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v-1
0
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jan
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Shenzhen Vanke (B) v. Emerging Correlation
Shenzhen Vanke (B) v. Global Correlation
Bloomberg: 123 HK Reuters: 600123.SZ ISIN: HK0123000694 SNL: -NA-
343
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Version: May 2011
Yuexiu Property (Red Chip)
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
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jun
-10
jul-1
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g-1
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v-1
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jan
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Company: Yuexiu Property (Red Chip) -1.46% Global Index: China 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SHCOMP 8.33%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
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okt-
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v-1
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jan
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3 Yuexiu Property (Red Chip)
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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jan
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3 Yuexiu Property (Red Chip) v. Emerging Correlation 3 Yuexiu Property (Red Chip) v. Global Correlation
Section 4.4
344
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Version: May 2011
Egypt
Bloomberg: OCDI EY Reuters: OCDI.CA ISIN: EGS65851C015 SNL: -NA-
345
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Six Of October Development & Investment
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
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jun
-10
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g-1
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okt-
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Company: Six Of October Development & Investment -17.48%
Global Index: Egypt 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: HERMES 11.58%
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
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okt-
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jan
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3 Six Of October Development & Investment
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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Six Of October Development & Investment v. Emerging Correlation
Six Of October Development & Investment v. Global Correlation
Section 4.5
346
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Version: May 2011
India
Bloomberg: ARCP IN Reuters: ARCP.BO ISIN: INE242C01024 SNL: -NA-
347
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Anant RAJ Industries
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
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g-1
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Company: Anant RAJ Industries -35.82% Global Index: India 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
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okt-
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jan
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3 Anant RAJ Industries
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
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p-1
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okt-
10
no
v-1
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c-1
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jan
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Anant RAJ Industries v. Emerging Correlation
Anant RAJ Industries v. Global Correlation
Bloomberg: APIL IN Reuters: ANSP.BO ISIN: INE436A01026 SNL: 500013-BOM
348
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ansal Properties & Infrastructure
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
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-10
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0
au
g-1
0
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p-1
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okt-
10
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v-1
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c-1
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jan
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Company: Ansal Properties & Infrastructure -47.84% Global Index: India 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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jan
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3 Ansal Properties & Infrastructure
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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Ansal Properties & Infrastructure v. Emerging Correlation
Ansal Properties & Infrastructure v. Global Correlation
Bloomberg: BRGD IN Reuters: BRGD.BO ISIN: INE791I01019 SNL: -NA-
349
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Brigade Enterprises
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
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okt-
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v-1
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jan
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Company: Brigade Enterprises -40.89% Global Index: India 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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de
c-1
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jan
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3 Brigade Enterprises
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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1
3 Brigade Enterprises v. Emerging Correlation 3 Brigade Enterprises v. Global Correlation
Bloomberg: DLFU IN Reuters: DLF.BO ISIN: INE271C01023 SNL: 532868-BOM
350
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
DLF
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
1,600
me
i-1
0
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jul-1
0
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0
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0
okt-
10
no
v-1
0
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jan
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Company: DLF -13.86% Global Index: India 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 DLF
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
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1
DLF v. Emerging Correlation DLF v. Global Correlation
Bloomberg: IVR IN Reuters: IVR.BO ISIN: INE414I01018 SNL: 532881-BOM
351
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
IVRCL Assets & Holdings
Graph 1: 12 Month Returns
0
200
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600
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1,000
1,200
1,400
me
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g-1
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okt-
10
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0
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Company: IVRCL Assets & Holdings -53.98%
Global Index: India 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
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0
okt-
10
no
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0
de
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jan
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3 IVRCL Assets & Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
IVRCL Assets & Holdings v. Emerging Correlation
IVRCL Assets & Holdings v. Global Correlation
Bloomberg: MLIFE IN Reuters: MLIFE.BO ISIN: INE813A01018 SNL: -NA-
352
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mahindra Lifespace Developers Ltd.
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
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jun
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jul-1
0
au
g-1
0
se
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0
okt-
10
no
v-1
0
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c-1
0
jan
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i-1
1
Company: Mahindra Lifespace Developers Ltd. -12.17%
Global Index: India 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Mahindra Lifespace Developers Ltd.
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Mahindra Lifespace Developers Ltd. v. Emerging Correlation
Mahindra Lifespace Developers Ltd. v. Global Correlation
Bloomberg: MVLL IN Reuters: MVLL.BO ISIN: INE744I01034 SNL: -NA-
353
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
MVL Ltd.
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: MVL Ltd. -14.28%
Global Index: India 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 MVL Ltd.
Graph 3: Correlations
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
3 MVL Ltd. v. Emerging Correlation 3 MVL Ltd. v. Global Correlation
Bloomberg: ORB IN Reuters: ORB.BO ISIN: INE628H01015 SNL: -NA-
354
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Orbit Corporation
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
no
v-1
0
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jan
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1
Company: Orbit Corporation -64.92% Global Index: India 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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jan
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3 Orbit Corporation
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Orbit Corporation v. Emerging Correlation
Orbit Corporation v. Global Correlation
Bloomberg: PARSV IN Reuters: PARV.BO ISIN: INE561H01026 SNL: 532780-BOM
355
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Parsvnath Developers
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Company: Parsvnath Developers -34.4%
Global Index: India 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
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0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Parsvnath Developers
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
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i-1
1
Parsvnath Developers v. Emerging Correlation
Parsvnath Developers v. Global Correlation
Bloomberg: PENL IN Reuters: PENL.BO ISIN: INE138A01028 SNL: 503031-BOM
356
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Peninsula Land
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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0
okt-
10
no
v-1
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jan
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i-1
1
Company: Peninsula Land -17.59%
Global Index: India 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Peninsula Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Peninsula Land v. Emerging Correlation
Peninsula Land v. Global Correlation
Bloomberg: PEPL IN Reuters: PEPL.BO ISIN: INE811K01011 SNL: -NA-
357
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Prestige Estates Projects Ltd
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Company: #DIV/0! Global Index: #N/A Regional Index: #N/A Blue Chip Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Prestige Estates Projects Ltd
Graph 3: Correlations
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
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i-1
1
Prestige Estates Projects Ltd v. Emerging Correlation
Prestige Estates Projects Ltd v. Global Correlation
Bloomberg: SRIN IN Reuters: SRIN.BO ISIN: INE805D01026 SNL: -NA-
358
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sunteck Realty Ltd.
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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0
okt-
10
no
v-1
0
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c-1
0
jan
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1
Company: Sunteck Realty Ltd. -49.72% Global Index: India 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Sunteck Realty Ltd.
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Sunteck Realty Ltd. v. Emerging Correlation
Sunteck Realty Ltd. v. Global Correlation
Bloomberg: UT IN Reuters: UNTE.BO ISIN: INE694A01020 SNL: 507878-BOM
359
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Unitech
Graph 1: 12 Month Returns
0
200
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600
800
1,000
1,200
1,400
me
i-1
0
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jul-1
0
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g-1
0
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p-1
0
okt-
10
no
v-1
0
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jan
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1
Company: Unitech -51.38%
Global Index: India 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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3 Unitech
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Unitech v. Emerging Correlation
Unitech v. Global Correlation
Section 4.6
360
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Indonesia
Bloomberg: ASRI IJ Reuters: ASRI.JK ISIN: ID1000108400 SNL: -NA-
361
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Alam Sutera Realty
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
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-10
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0
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g-1
0
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p-1
0
okt-
10
no
v-1
0
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c-1
0
jan
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i-1
1
Company: Alam Sutera Realty 82.35% Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SENSEX 21.04%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Alam Sutera Realty
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
Alam Sutera Realty v. Emerging Correlation
Alam Sutera Realty v. Global Correlation
Bloomberg: ELTY IJ Reuters: ELTY.JK ISIN: ID1000088701 SNL: -NA-
362
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Bakrieland Devel
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
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g-1
0
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0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
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i-1
1
Company: Bakrieland Devel 7.38%
Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Bakrieland Devel
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Bakrieland Devel v. Emerging Correlation
Bakrieland Devel v. Global Correlation
Bloomberg: CTRA IJ Reuters: CTRA.JK ISIN: ID1000115306 SNL: -NA-
363
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ciputra Develop
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Ciputra Develop 12.16%
Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ciputra Develop
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Ciputra Develop v. Emerging Correlation
Ciputra Develop v. Global Correlation
Bloomberg: CTRP IJ Reuters: CTRP.JK ISIN: ID1000107907 SNL: -NA-
364
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ciputra Property
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Ciputra Property 44.07%
Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ciputra Property
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ciputra Property v. Emerging Correlation 3 Ciputra Property v. Global Correlation
Bloomberg: CTRS IJ Reuters: CTRS.JK ISIN: ID1000101900 SNL: -NA-
365
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ciputra Surya
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Ciputra Surya 26.67% Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ciputra Surya
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Ciputra Surya v. Emerging Correlation 3 Ciputra Surya v. Global Correlation
Bloomberg: LPKR IJ Reuters: LPKR.JK ISIN: ID1000108905 SNL: -NA-
366
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Lippo Karawaci
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Lippo Karawaci 68.3%
Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Lippo Karawaci
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Lippo Karawaci v. Emerging Correlation
Lippo Karawaci v. Global Correlation
Bloomberg: PWON IJ Reuters: PWON.JK ISIN: ID1000107204 SNL: -NA-
367
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Pakuwon Jati
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Pakuwon Jati 49.25%
Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Pakuwon Jati
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Pakuwon Jati v. Emerging Correlation 3 Pakuwon Jati v. Global Correlation
Bloomberg: BKSL IJ Reuters: BKSL.JK ISIN: ID1000104201 SNL: -NA-
368
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sentul City
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Sentul City -10.77% Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Sentul City
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Sentul City v. Emerging Correlation
Sentul City v. Global Correlation
Bloomberg: SMRA IJ Reuters: SMRA.JK ISIN: ID1000092406 SNL: -NA-
369
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Summarecon
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Summarecon 48.05% Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Summarecon
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Summarecon v. Emerging Correlation 3 Summarecon v. Global Correlation
Section 4.7
370
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Malaysia
Bloomberg: CMMT MK Reuters: CMMT.JK ISIN: MYL5180TO003 SNL: -NA-
371
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Capitamalls Malaysia Trust
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: #DIV/0! Global Index: #N/A Regional Index: #N/A Blue Chip Index: #N/A
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
1%
2%
2%
3%
3%
4%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
13 Capitamalls Malaysia Trust
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Capitamalls Malaysia Trust v. Emerging Correlation 3 Capitamalls Malaysia Trust v. Global Correlation
Bloomberg: EAST MK Reuters: EAST.JK ISIN: MYL3417OO002 SNL: -NA-
372
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Eastern & Orient
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Eastern & Orient 68.36% Global Index: Indonesia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: JCI 32.41%
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Eastern & Orient
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
3 Eastern & Orient v. Emerging Correlation 3 Eastern & Orient v. Global Correlation
Bloomberg: GLMC MK Reuters: GLMC.KL ISIN: MYL5020OO002 SNL: -NA-
373
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Glomac Bhd
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Glomac Bhd 41.13% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Glomac Bhd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Glomac Bhd v. Emerging Correlation 3 Glomac Bhd v. Global Correlation
Bloomberg: IGB MK Reuters: IGBS.KL ISIN: MYL1597OO003 SNL: -NA-
374
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
IGB
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: IGB 29.43% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 IGB
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
IGB v. Emerging Correlation IGB v. Global Correlation
Bloomberg: IJMLD MK Reuters: IJMLD.KL ISIN: MYL5215OO008 SNL: -NA-
375
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
IJM Land Bhd
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: IJM Land Bhd 32.42% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
13 IJM Land Bhd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
IJM Land Bhd v. Emerging Correlation
IJM Land Bhd v. Global Correlation
Bloomberg: KLCC MK Reuters: KCCP.KL ISIN: MYL5089OO007 SNL: -NA-
376
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
KLCC Property Holdings
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: KLCC Property Holdings 10.69% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 KLCC Property Holdings
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
KLCC Property Holdings v. Emerging Correlation
KLCC Property Holdings v. Global Correlation
Bloomberg: LGH MK Reuters: LGH.KL ISIN: MYL3174OO009 SNL: -NA-
377
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Land And General
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Land And General 12.82%
Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Land And General
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
Ja
n-0
9
Fe
b-0
9
Ma
r-0
9
Ap
r-0
9
Ma
y-0
9
Ju
n-0
9
Ju
l-0
9
Au
g-0
9
Se
p-0
9
Oct-
09
No
v-0
9
De
c-0
9
Ja
n-1
0
Land And General v. Emerging Correlation
Land And General v. Global Correlation
Bloomberg: LBS MK Reuters: LBS.KL ISIN: MYL5789OO002 SNL: -NA-
378
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
LBS Bina Group BHD
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: LBS Bina Group BHD 27.84% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 LBS Bina Group BHD
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 LBS Bina Group BHD v. Emerging Correlation 3 LBS Bina Group BHD v. Global Correlation
Bloomberg: SCITY MK Reuters: SCITY.KL ISIN: MYL6289OO002 SNL: -NA-
379
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sunway City Bhd
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Sunway City Bhd 31.85% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Sunway City Bhd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Sunway City Bhd v. Emerging Correlation 3 Sunway City Bhd v. Global Correlation
Bloomberg: SPSB MK Reuters: SPSB.KL ISIN: MYL8664OO004 SNL: -NA-
380
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
SP Setia
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: SP Setia 57.36% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 SP Setia
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
SP Setia v. Emerging Correlation
SP Setia v. Global Correlation
Bloomberg: TEB MK Reuters: SETI.KL ISIN: MYL1589OO000 SNL: -NA-
381
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Tebrau Teguh Bhd
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Tebrau Teguh Bhd 21.26% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Tebrau Teguh Bhd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Tebrau Teguh Bhd v. Emerging Correlation 3 Tebrau Teguh Bhd v. Global Correlation
Bloomberg: YNHB MK Reuters: YNHB.KL ISIN: MYL3158OO002 SNL: -NA-
382
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
YNH Property
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: YNH Property 31.77% Global Index: Malaysia 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: KLCI 18.2%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 YNH Property
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
YNH Property v. Emerging Correlation
YNH Property v. Global Correlation
Section 4.8
383
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mexico
Bloomberg: ARA* MM Reuters: ARA.MX ISIN: MXP001161019 SNL: -NA-
384
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Consorcio Ara
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Consorcio Ara -21.47% Global Index: Mexico 3.13%
Regional Index: Emerging 8.66% Blue Chip Index: MEXBOL 20.33%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
1%
2%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Consorcio Ara
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Consorcio Ara v. Emerging Correlation
Consorcio Ara v. Global Correlation
Bloomberg: HOMEX* MM Reuters: HOMEX.MX ISIN: MX01HO000007 SNL: -NA-
385
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Desarrolladora Homex SA de CV
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Desarrolladora Homex SA de CV -20.5%
Global Index: Mexico 3.13%
Regional Index: Emerging 8.66%
Blue Chip Index: MEXBOL 20.33%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Desarrolladora Homex SA de CV
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Desarrolladora Homex SA de CV v. Emerging Correlation
Desarrolladora Homex SA de CV v. Global Correlation
Bloomberg: GEOB MM Reuters: GEOB.MX ISIN: MXP3142C1177 SNL: -NA-
386
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Geo B
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Geo B -25.08%
Global Index: Mexico 3.13%
Regional Index: Emerging 8.66%
Blue Chip Index: MEXBOL 20.33%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Geo B
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Geo B v. Emerging Correlation
Geo B v. Global Correlation
Bloomberg: SAREB MM Reuters: SAREB.MX ISIN: MX01SA030007 SNL: -NA-
387
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sare Holding S.A. de C.V.
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Sare Holding S.A. de C.V. -8.89%
Global Index: Mexico 3.13%
Regional Index: Emerging 8.66%
Blue Chip Index: MEXBOL 20.33%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Sare Holding S.A. de C.V.
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Sare Holding S.A. de C.V. v. Emerging Correlation
Sare Holding S.A. de C.V. v. Global Correlation
Bloomberg: URBI* MM Reuters: URBI.MX ISIN: MX01UR000007 SNL: -NA-
388
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Urbi Desarrollos Urbanos
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Urbi Desarrollos Urbanos -7.45%
Global Index: Mexico 3.13%
Regional Index: Emerging 8.66%
Blue Chip Index: MEXBOL 20.33%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Urbi Desarrollos Urbanos
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Urbi Desarrollos Urbanos v. Emerging Correlation
Urbi Desarrollos Urbanos v. Global Correlation
Section 4.9
389
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Philippines
Bloomberg: ALI PM Reuters: ALI.PS ISIN: PHY0488F1004 SNL: -NA-
390
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ayala Land
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Ayala Land 12.59% Global Index: Philippines 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: PCOMP 28.37%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
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me
i-1
1
3 Ayala Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Ayala Land v. Emerging Correlation
Ayala Land v. Global Correlation
Bloomberg: FLI PM Reuters: FLI.PS ISIN: PHY249161019 SNL: -NA-
391
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Filinvest Land
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Filinvest Land 35.71%
Global Index: Philippines 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: PCOMP 28.37%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
1%
2%
2%
2%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Filinvest Land
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Filinvest Land v. Emerging Correlation
Filinvest Land v. Global Correlation
Bloomberg: MEG PM Reuters: MEG.PS ISIN: PHY594811127 SNL: -NA-
392
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Megaworld Corporation
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Megaworld Corporation 67.46%
Global Index: Philippines 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: PCOMP 28.37%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
1%
1%
1%
1%
1%
2%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Megaworld Corporation
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Megaworld Corporation v. Emerging Correlation
Megaworld Corporation v. Global Correlation
Bloomberg: RLC PM Reuters: RLC.PS ISIN: PHY731961264 SNL: -NA-
393
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Robinson`s Land Corporation
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Robinson`s Land Corporation -6.69%
Global Index: Philippines 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: PCOMP 28.37%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Robinson`s Land Corporation
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Robinson`s Land Corporation v. Emerging Correlation
Robinson`s Land Corporation v. Global Correlation
Bloomberg: SMPH PM Reuters: SMPH.PS ISIN: PHY8076N1120 SNL: -NA-
394
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
SM Prime Hldgs
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: SM Prime Hldgs 13.9% Global Index: Philippines 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: PCOMP 28.37%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
3 SM Prime Hldgs
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
SM Prime Hldgs v. Emerging Correlation
SM Prime Hldgs v. Global Correlation
Bloomberg: VLL PM Reuters: VLL.PS ISIN: PHY9382G1068 SNL: -NA-
395
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Vista Land & Lifescapes
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Vista Land & Lifescapes 94.33%
Global Index: Philippines 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: PCOMP 28.37%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Vista Land & Lifescapes
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Vista Land & Lifescapes v. Emerging Correlation
Vista Land & Lifescapes v. Global Correlation
Section 4.10
396
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Poland
Bloomberg: GTC PW Reuters: GTCA.WA ISIN: PLGTC0000037 SNL: GTC-WAR
397
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Globe Trade Centre
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Globe Trade Centre -16.71% Global Index: Poland 3.13%
Regional Index: Emerging -10.49% Blue Chip Index: WIG 20 19.3%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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ap
r-1
1
me
i-1
1
3 Globe Trade Centre
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Globe Trade Centre v. Emerging Correlation
Globe Trade Centre v. Global Correlation
Bloomberg: LCC PW Reuters: LCCA.WA ISIN: PLLCCRP00017 SNL: -NA-
398
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
LC Corp SA
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: LC Corp SA 4%
Global Index: Poland 3.13%
Regional Index: Emerging -10.49%
Blue Chip Index: WIG 20 19.3%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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ap
r-1
1
me
i-1
1
3 LC Corp SA
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
LC Corp SA v. Emerging Correlation
LC Corp SA v. Global Correlation
Section 4.11
399
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
South Africa
Bloomberg: EMI SJ Reuters: EMIJ.J ISIN: ZAE000050712 SNL: -NA-
400
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Emira Property Fund
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Emira Property Fund 12.96% Global Index: South Africa 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: TOP40 18.55%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
3 Emira Property Fund
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Emira Property Fund v. Emerging Correlation
Emira Property Fund v. Global Correlation
Bloomberg: FPT SJ Reuters: FPTJ.J ISIN: ZAE000097416 SNL: -NA-
401
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Fountainhead Property Trust
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Fountainhead Property Trust -0.47% Global Index: South Africa 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: TOP40 18.55%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Fountainhead Property Trust
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Fountainhead Property Trust v. Emerging Correlation
Fountainhead Property Trust v. Global Correlation
Bloomberg: GRT SJ Reuters: GRTJ.J ISIN: ZAE000037669 SNL: -NA-
402
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Growthpoint Prop Ltd
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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c-1
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jan
-11
feb
-11
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r-1
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i-1
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Company: Growthpoint Prop Ltd 19.47% Global Index: South Africa 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: TOP40 18.55%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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v-1
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c-1
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jan
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3 Growthpoint Prop Ltd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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me
i-1
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Growthpoint Prop Ltd v. Emerging Correlation
Growthpoint Prop Ltd v. Global Correlation
Bloomberg: RDF SJ Reuters: RDFJ.J ISIN: ZAE000143178 SNL: -NA-
403
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Redefine Income Find
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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0
okt-
10
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v-1
0
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c-1
0
jan
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feb
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r-1
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me
i-1
1
Company: Redefine Income Find 7.16% Global Index: South Africa 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: TOP40 18.55%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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de
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jan
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3 Redefine Income Find
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
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Redefine Income Find v. Emerging Correlation
Redefine Income Find v. Global Correlation
Bloomberg: RES SJ Reuters: RESJ.J ISIN: ZAE000043642 SNL: -NA-
404
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Resilient Prop Inc Fd
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
Ma
y-1
0
Ju
n-1
0
Ju
l-1
0
Au
g-1
0
Se
p-1
0
Oct-
10
No
v-1
0
De
c-1
0
Ja
n-1
1
Fe
b-1
1
Ma
r-1
1
Ap
r-1
1
Ma
y-1
1
Company: Resilient Prop Inc Fd 11.79% Global Index: South Africa 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: TOP40 18.55%
Bond Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
Ma
y-1
0
Ju
n-1
0
Ju
l-1
0
Au
g-1
0
Se
p-1
0
Oct-
10
No
v-1
0
De
c-1
0
Ja
n-1
1
Fe
b-1
1
Ma
r-1
1
Ap
r-1
1
Ma
y-1
1
3 Resilient Prop Inc Fd
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
Ma
y-1
0
Ju
n-1
0
Ju
l-1
0
Au
g-1
0
Se
p-1
0
Oct-
10
No
v-1
0
De
c-1
0
Ja
n-1
1
Fe
b-1
1
Ma
r-1
1
Ap
r-1
1
Ma
y-1
1
3 Resilient Prop Inc Fd v. Emerging Correlation 3 Resilient Prop Inc Fd v. Global Correlation
Bloomberg: SAC SJ Reuters: SACJ.J ISIN: ZAE000083614 SNL: -NA-
405
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
SA Corporate Real Estate Fund
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
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me
i-1
1
Company: SA Corporate Real Estate Fund 15.96% Global Index: South Africa 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: TOP40 18.55%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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v-1
0
de
c-1
0
jan
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3 SA Corporate Real Estate Fund
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
i-1
1
SA Corporate Real Estate Fund v. Emerging Correlation
SA Corporate Real Estate Fund v. Global Correlation
Section 4.12
406
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Taiwan
Bloomberg: 2536 TT Reuters: 2536.TW ISIN: TW0002536000 SNL: -NA-
407
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Hung Poo Real Estate Development
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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me
i-1
1
Company: Hung Poo Real Estate Development -18.24%
Global Index: Taiwan 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: TWSE 21.68%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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v-1
0
de
c-1
0
jan
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3 Hung Poo Real Estate Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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r-1
1
me
i-1
1
Hung Poo Real Estate Development v. Emerging Correlation
Hung Poo Real Estate Development v. Global Correlation
Section 4.13
408
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Thailand
Bloomberg: AMATA TB Reuters: AMAT.BK ISIN: TH0617A10Z08 SNL: -NA-
409
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Amata Corp
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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i-1
1
Company: Amata Corp 110.14% Global Index: Thailand 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
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i-1
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3 Amata Corp
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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r-1
1
me
i-1
1
Amata Corp v. Emerging Correlation
Amata Corp v. Global Correlation
Bloomberg: AP TB Reuters: AP.BK ISIN: TH0308010Z07 SNL: -NA-
410
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Asian Property Development
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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r-1
1
me
i-1
1
Company: Asian Property Development 27.31%
Global Index: Thailand 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
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3 Asian Property Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
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r-1
1
me
i-1
1
Asian Property Development v. Emerging Correlation
Asian Property Development v. Global Correlation
Bloomberg: CPN TB Reuters: CPN.BK ISIN: TH0481A10Z01 SNL: -NA-
411
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Central Pattana
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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r-1
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i-1
1
Company: Central Pattana 56.91% Global Index: Thailand 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
3 Central Pattana
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
Central Pattana v. Emerging Correlation
Central Pattana v. Global Correlation
Bloomberg: LH TB Reuters: LH.BK ISIN: TH0143010Z08 SNL: -NA-
412
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Land & Houses
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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r-1
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me
i-1
1
Company: Land & Houses 29.07% Global Index: Thailand 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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r-1
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me
i-1
1
3 Macquarie Central Office CR-REIT
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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r-1
1
me
i-1
1
Land & Houses v. Emerging Correlation
Land & Houses v. Global Correlation
Bloomberg: LPN TB Reuters: LPN.BK ISIN: TH0456010Z04 SNL: -NA-
413
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
LPN Development
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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r-1
1
me
i-1
1
Company: LPN Development 49.63%
Global Index: Thailand 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 LPN Development
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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r-1
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i-1
1
LPN Development v. Emerging Correlation
LPN Development v. Global Correlation
Bloomberg: PS TB Reuters: -NA- ISIN: TH0878010Y00 SNL: -NA-
414
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Preuksa Real Estate
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Preuksa Real Estate 29.93% Global Index: Thailand 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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r-1
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3 Preuksa Real Estate
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Preuksa Real Estate v. Emerging Correlation
Preuksa Real Estate v. Global Correlation
Bloomberg: PF TB Reuters: -NA- ISIN: TH0352A10Z07 SNL: -NA-
415
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Property Perfect
Graph 1: 12 Month Returns
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Property Perfect 607.31% Global Index: Thailand 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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1
3 Property Perfect
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
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okt-
10
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v-1
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Property Perfect v. Emerging Correlation
Property Perfect v. Global Correlation
Bloomberg: SC TB Reuters: -NA- ISIN: TH0747010Z06 SNL: -NA-
416
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
SC Asset
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
3,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
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se
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okt-
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i-1
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Company: SC Asset 142.59% Global Index: Thailand 3.13%
Regional Index: Emerging -2.1% Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
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jul-1
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au
g-1
0
se
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okt-
10
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3 SC Asset
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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SC Asset v. Emerging Correlation
SC Asset v. Global Correlation
Bloomberg: SPALI TB Reuters: SPAL.BK ISIN: TH0371010Z05 SNL: -NA-
417
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Supalai PCL
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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de
c-1
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jan
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Company: Supalai PCL 47.3%
Global Index: Thailand 3.13%
Regional Index: Emerging -2.1%
Blue Chip Index: SET 37.62%
Graph 2: 12 Month Dividend Yields
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
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jan
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3 Supalai PCL
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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Supalai PCL v. Emerging Correlation
Supalai PCL v. Global Correlation
Section 4.14
418
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Turkey
Bloomberg: AKMGY TI Reuters: AKMGY.IS ISIN: TREAKMG00018 SNL: -NA-
419
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Akmerkez Gayrimenkul Yatirim
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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Company: Akmerkez Gayrimenkul Yatirim 67.4%
Global Index: Turkey 3.13%
Regional Index: Emerging -10.49%
Blue Chip Index: XU100 21.37%
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
1%
2%
2%
3%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Akmerkez Gayrimenkul Yatirim
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Akmerkez Gayrimenkul Yatirim v. Emerging Correlation
3 Akmerkez Gayrimenkul Yatirim v. Global Correlation
Bloomberg: ALGYO TI Reuters: ALGYO.IS ISIN: TRAALGYO91Q5 SNL: -NA-
420
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Alarko G.Yat.Ort
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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v-1
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c-1
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jan
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Company: Alarko G.Yat.Ort 19.16% Global Index: Turkey 3.13%
Regional Index: Emerging -10.49% Blue Chip Index: XU100 21.37%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
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jan
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13 Alarko G.Yat.Ort
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
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jan
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3 Alarko G.Yat.Ort v. Emerging Correlation 3 Alarko G.Yat.Ort v. Global Correlation
Bloomberg: DGGYO TI Reuters: DGGYO.IS ISIN: TRAOSGYO91Q1 SNL: -NA-
421
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Dogus GE Gayrimenkul Yatirim Ortakligi
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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Company: Dogus GE Gayrimenkul Yatirim Ortakligi 61.95%
Global Index: Turkey 3.13%
Regional Index: Emerging -10.49%
Blue Chip Index: XU100 21.37%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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jan
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3 Dogus GE Gayrimenkul Yatirim Ortakligi
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Dogus GE Gayrimenkul Yatirim Ortakligi v. Emerging Correlation
3 Dogus GE Gayrimenkul Yatirim Ortakligi v. Global Correlation
Bloomberg: ISGYO TI Reuters: YKGYO.IS ISIN: TRAISGYO91Q3 SNL: -NA-
422
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Is Gayrimenkul Yatirim Ortak
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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Company: Is Gayrimenkul Yatirim Ortak 11.54% Global Index: Turkey 3.13%
Regional Index: Emerging -10.49% Blue Chip Index: XU100 21.37%
Graph 2: 12 Month Dividend Yields
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Is Gayrimenkul Yatirim Ortak
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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mrt
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i-1
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Is Gayrimenkul Yatirim Ortak v. Emerging Correlation
Is Gayrimenkul Yatirim Ortak v. Global Correlation
Bloomberg: SNGYO TI Reuters: SNGYO.IS ISIN: TRESNGY00019 SNL: -NA-
423
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sinpas Gayrimenkul Yatirim Ortakligi
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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feb
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1
Company: Sinpas Gayrimenkul Yatirim Ortakligi 3.89%
Global Index: Turkey 3.13%
Regional Index: Emerging -10.49%
Blue Chip Index: XU100 21.37%
Graph 2: 12 Month Dividend Yields
-1%
0%
1%
1%
2%
2%
3%
3%
4%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
13 Sinpas Gayrimenkul Yatirim Ortakligi
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
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3 Sinpas Gayrimenkul Yatirim Ortakligi v. Emerging Correlation
3 Sinpas Gayrimenkul Yatirim Ortakligi v. Global Correlation
Bloomberg: TRGYO TI Reuters: TRGYO.IS ISIN: TRETRGY00018 SNL: -NA-
424
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Torunlar Gayrimenkul Yatirim Ortakligi
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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r-1
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me
i-1
1
Company: #DIV/0!
Global Index: #N/A
Regional Index: #N/A
Blue Chip Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Torunlar Gayrimenkul Yatirim Ortakligi
Graph 3: Correlations
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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me
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1
3 Torunlar Gayrimenkul Yatirim Ortakligi v. Emerging Correlation
3 Torunlar Gayrimenkul Yatirim Ortakligi v. Global Correlation
Section 4.15
425
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
United Arab Emirates
Bloomberg: ALDAR UH Reuters: ALDAR.UH ISIN: AEA002001013 SNL: -NA-
426
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Aldar Properties PJSC
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
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jun
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jul-1
0
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g-1
0
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okt-
10
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Company: Aldar Properties PJSC -55.66% Global Index: UAE 3.13%
Regional Index: Emerging 6.4%
Graph 2: 12 Month Dividend Yields
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
me
i-1
0
jun
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jul-1
0
au
g-1
0
se
p-1
0
okt-
10
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jan
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3 Aldar Properties PJSC
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
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c-1
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jan
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3 Aldar Properties PJSC v. Emerging Correlation 3 Aldar Properties PJSC v. Global Correlation
Bloomberg: EMAAR UH Reuters: EMAAR.UH ISIN: AEE000301011 SNL: -NA-
427
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Emaar Properties
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
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jan
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Company: Emaar Properties -5.97% Global Index: UAE 3.13% Regional Index: Emerging 6.4%
Graph 2: 12 Month Dividend Yields
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
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jan
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3 Emaar Properties
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Emaar Properties v. Emerging Correlation 3 Emaar Properties v. Global Correlation
Section 4.16
428
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
AIM
Bloomberg: ABL LN Reuters: ABL.L ISIN: GG00B1LB2139 SNL: ABL-LON
429
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Ablon Group
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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i-1
1
Company: Ablon Group -30.89%
Global Index: AIM 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
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3 Ablon Group
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Ablon Group v. Emerging Correlation
Ablon Group v. Global Correlation
Bloomberg: CPT LN Reuters: CPTA.L ISIN: GB00B0B66533 SNL: CPT-LON
430
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Carpathian
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Company: Carpathian 67.12%
Global Index: AIM 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
2%
4%
6%
8%
10%
12%
14%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Carpathian
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Carpathian v. Emerging Correlation
Carpathian v. Global Correlation
Bloomberg: CIC LN Reuters: CIC.L ISIN: GB0033698720 SNL: CPT-LON
431
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Conygar Investment Company
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Conygar Investment Company 6.68% Global Index: AIM 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Conygar Investment Company
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
3 Conygar Investment Company v. Emerging Correlation
3 Conygar Investment Company v. Global Correlation
Bloomberg: DCI LN Reuters: DOLC.L ISIN: VGG2803G1028 SNL: -NA-
432
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Dolphin Capital Investors
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Dolphin Capital Investors -8.64% Global Index: AIM 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Dolphin Capital Investors
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Dolphin Capital Investors v. Emerging Correlation
Dolphin Capital Investors v. Global Correlation
Bloomberg: LOK LN Reuters: LOK.L ISIN: GB0007601553 SNL: -NA-
433
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Lok'N Store Group
Graph 1: 12 Month Returns
0
0
0
0
0
1
1
1
1
1
1
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: #N/A
Global Index: #N/A
Regional Index: #N/A
Blue Chip Index: #N/A
Graph 2: 12 Month Dividend Yields
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Lok'N Store Group
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Lok'N Store Group v. Emerging Correlation
Lok'N Store Group v. Global Correlation
Bloomberg: LXB LN Reuters: LXB.L ISIN: JE00B4MFKH73 SNL: SRE-LON
434
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
LXB Retail Properties
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: LXB Retail Properties 28.28%
Global Index: AIM 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 LXB Retail Properties
Graph 3: Correlations
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 LXB Retail Properties v. Emerging Correlation 3 LXB Retail Properties v. Global Correlation
Bloomberg: MAX LN Reuters: MAX.L ISIN: GB0007601554 SNL: -NA-
435
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Max Property Group
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Max Property Group 10.91%
Global Index: AIM 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Max Property Group
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Max Property Group v. Emerging Correlation
Max Property Group v. Global Correlation
Bloomberg: MLD LN Reuters: MLD.L ISIN: CY0100141015 SNL: -NA-
436
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Mirland Development Corp
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Mirland Development Corp 46.79%
Global Index: AIM 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Mirland Development Corp
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Mirland Development Corp v. Emerging Correlation
Mirland Development Corp v. Global Correlation
Bloomberg: OTE LN Reuters: OTE.L ISIN: GB00B0XPT375 SNL: SRE-LON
437
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
O Twelve Estates
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: O Twelve Estates -19.51%
Global Index: AIM 3.13%
Regional Index: Emerging 6.4%
Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
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mrt
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ap
r-1
1
me
i-1
1
3 O Twelve Estates
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 O Twelve Estates v. Emerging Correlation 3 O Twelve Estates v. Global Correlation
Bloomberg: PSPI LN Reuters: PSPI.L ISIN: GG00B1Z5TP41 SNL: -NA-
438
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Public Service Properties Inv.
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Public Service Properties Inv. 21.03% Global Index: AIM 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Public Service Properties Inv.
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Public Service Properties Inv. v. Emerging Correlation
3 Public Service Properties Inv. v. Global Correlation
Bloomberg: RUGB LN Reuters: RUGB.L ISIN: GB0007601551 SNL: -NA-
439
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Rugby Estates
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Rugby Estates 21.45% Global Index: AIM 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Rugby Estates
Graph 3: Correlations
-1.00
-0.90
-0.80
-0.70
-0.60
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
London & Stamford Property v. Europe Correlation
London & Stamford Property v. Global Correlation
Bloomberg: SRE LN Reuters: DDS.L ISIN: GG00B1W3VF54 SNL: SRE-LON
440
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Sirius Real Estate
Graph 1: 12 Month Returns
0
200
400
600
800
1,000
1,200
1,400
1,600
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Sirius Real Estate 25.66% Global Index: AIM 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
3 Sirius Real Estate
No dividend history
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80
1.00
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
-11
ap
r-1
1
me
i-1
1
Sirius Real Estate v. Emerging Correlation
Sirius Real Estate v. Global Correlation
Bloomberg: TRV LN Reuters: DTR.L ISIN: GB00B0RFL714 SNL: DTR-LON
441
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Treveria
Graph 1: 12 Month Returns
0
500
1,000
1,500
2,000
2,500
3,000
me
i-1
0
jun
-10
jul-1
0
au
g-1
0
se
p-1
0
okt-
10
no
v-1
0
de
c-1
0
jan
-11
feb
-11
mrt
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ap
r-1
1
me
i-1
1
Company: Treveria 134.29% Global Index: AIM 3.13%
Regional Index: Emerging 6.4% Blue Chip Index: AXX 35.99%
Graph 2: 12 Month Dividend Yields
0%
10%
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60%
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90%
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3 Treveria
Graph 3: Correlations
-1.00
-0.80
-0.60
-0.40
-0.20
0.00
0.20
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0.60
0.80
1.00
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Treveria v. Emerging Correlation
Treveria v. Global Correlation
Section 5
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Version: May 2011
Details on Methodology
Correlations
The correlations are calculated over a rolling 36-month period.
For the correlations of a stock against its country, region and global real estate index, the index returns are adjusted to exclude the company return. As such, when a country has
only 1 constituent, the correlation between the company and country-index is not calculated, as by definition it leaves a correlation of +1.
Dividend Yields
The dividend market capitalisation (defined as the dividend multiplied by the shares in issue and free float percentage) paid during the last twelve months as a percentage
of the investable market capitalisation of the index.
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Version: May 2011
Section 6
444
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Version: May 2011
Data Vendor Codes
445
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Data Vendor Codes - Indices
EUR USD GBP JPY AUD Lo c al EUR USD GBP JPY AU D Lo cal EUR USD GB P J PY AU D L oca l
Pr ic e In dices Gross Total Retu rn Ind ice s Net To tal Retu rn Ind ice s
AMERICAS EMERGING INDEX FENEL
ASIA 33 INDEX ENA3 (HKD)
ASIA DIVERSIFIED INDEX EGADE EGADU EGADG EGADJ EGADA TEGADE TEGADU TEGADG TEGADJ TEGADA
ASIA DIVIDEND+ INDEX ENAD
ASIA EMERGING INDEX FENEA
ASIA EX AUSTRALIA DIVERSIFIED INDEX EAADE EAADU EAADG EAADJ EAADA TEAADE TEAADU TEAADG TEAADJ TEAADA
ASIA EX AUSTRALIA HEALTHCARE INDEX EAAHE EAAHU EAAHG EAAHJ EAAHA TEAAHE TEAAHU TEAAHG TEAAHJ TEAAHA
ASIA EX AUSTRALIA INDEX EPAAE EPAAU EPAAG EPAAJ TEPAAE TEPAAU TEPAAG TEPAAJ TRPAAE TRPAAU TRPAAG TRPAAJ
ASIA EX AUSTRALIA INDUSTRIAL INDEX EAAIE EAAIU EAAIG EAAIJ EAAIA TEAAIE TEAAIU TEAAIG TEAAIJ TEAAIA
ASIA EX AUSTRALIA INDUSTRIAL/OFFICE MIXED INDEX EAAME EAAMU EAAMG EAAMJ EAAMA TEAAME TEAAMU TEAAMG TEAAMJ TEAAMA
ASIA EX AUSTRALIA LODGING/RESORTS INDEX EAALE EAALU EAALG EAALJ EAALA TEAALE TEAALU TEAALG TEAALJ TEAALA
ASIA EX AUSTRALIA NON-RENTAL INDEX EAANE EAANU EAANG EAANJ EAANA TEAANE TEAANU TEAANG TEAANJ TEAANA
ASIA EX AUSTRALIA OFFICE INDEX EAAOE EAAOU EAAOG EAAOJ EAAOA TEAAOE TEAAOU TEAAOG TEAAOJ TEAAOA
ASIA EX AUSTRALIA RENTAL INDEX EAARE EAARU EAARG EAARJ EAARA TEAARE TEAARU TEAARG TEAARJ TEAARA
ASIA EX AUSTRALIA RETAIL INDEX EAATE EAATU EAATG EAATJ EAATA TEAATE TEAATU TEAATG TEAATJ TEAATA
ASIA EX AUSTRALIA SELF STORAGE INDEX EAASE EAASU EAASG EAASJ EAASA TEAASE TEAASU TEAASG TEAASJ TEAASA
ASIA EX AUTRALIA RESIDENTIAL INDEX EAAEE EAAEU EAAEG EAAEJ EAAEA TEAAEE TEAAEU TEAAEG TEAAEJ TEAAEA
ASIA EX AUTRALIA SPECIALTY INDEX EAAPE EAAPU EAAPG EAAPJ EAAPA TEAAPE TEAAPU TEAAPG TEAAPJ TEAAPA
ASIA INDEX EGAS UGAS PGAS YGAS REGA RUGA RPGA RYAS TRGASE TRGASU TRGASG TRGASJ
ASIA INDUSTRIAL INDEX EGAIE EGAIU EGAIG EGAIJ EGAIA TEGAIE TEGAIU TEGAIG TEGAIJ TEGAIA
ASIA LODGING/RESORTS INDEX EGALE EGALU EGALG EGALJ EGALA TEGALE TEGALU TEGALG TEGALJ TEGALA
ASIA NON-REITS INDEX ENASE ENASU ENASG ENASJ ENASA TENASE TENASU TENASG TENASJ TENASA
ASIA OFFICE INDEX EGAFE EGAFU EGAFG EGAFJ EGAFA TEGAFE TEGAFU TEGAFG TEGAFJ TEGAFA
ASIA PAC EX JPN EX AUS LIQUID INDEX GSLQAPE GSLQAPU GSLQAPG GSLQAPJ GSLQAPA GSLQAPH (HKD), GSLQAPS (SGD) TGSLQAPE TGSLQAPU TGSLQAPG TGSLQAPJ TGSLQAPA TGSLQAPH (HKD), TGSLQAPS (SGD)
ASIA REITS INDEX ERASE ERASU ERASG ERASJ ERASA TERASE TERASU TERASG TERASJ TERASA
ASIA RESIDENTIAL INDEX EGAEE EGAEU EGAEG EGAEJ EGAEA TEGAEE TEGAEU TEGAEG TEGAEJ TEGAEA
ASIA RETAIL INDEX EGATE EGATU EGATG EGATJ EGATA TEGATE TEGATU TEGATG TEGATJ TEGATA
AUSTRALIA HEDGED IN US$ INDEX ELHAU TELHAU FTAHUST
AUSTRALIA INDEX ENAU UNAU PLAU YLAU ELAU REAU RUAU RPAU RYAU RDAU TRLAUE TRLAUU TRLAUG TRLAUJ TRLAUL
AUSTRALIA LIQUID INDEX LIQELAUE LIQELAUU LIQELAUG LIQELAUJ LIQELAUA TLIQELAUE TLIQELAUU TLIQELAUG TLIQELAUJ TLIQELAUA
AUSTRIA INDEX EPAS UPAS PPAS YPAS REPAS RUPAS RPAS RYAUS TRPASE TRPASU TRPASG TRPASJ
BELGIUM INDEX EPBL UPBL PPBL YPBL RPBL RUPBL RPPB RYBL TRPBLE TRPBLU TRPBLG TRPBLJ
CANADA INDEX ENCA UNCA PLCA YLCA ELCA (CAD) RCAE RCAU RPCA RYCA RCAC (CAD) TRLCAE TRLCAU TRLCAG TRLCAJ TRLCAL (CAD)
CUSTOM GLOBAL INDEX INDEX FTGIEUR FTGIUSD FTGILOC FTGIEUTR FTGIUSTR FTGILCTR
CZECH REPUBLIC INDEX TRPCZE TRPCZU TRPCZG TRPCZJ TRPCZL (NZD)
DENMARK INDEX EPDK UPDK PLDK YLDK ELDK (DKK) RPDK RUPDK RPLD RYDK RLDK (DKK) TRLDKE TRLDKU TRLDKG TRLDKJ TRLDKL (DKK)
EMERGING MARKET INDEX FENEI
EUROPE CAPPED INDEX EORA EORAU EORAG EORAG TEORAE TEORAU TEORAG TEORAJ R0RA R0RA R0RA R0RA
EUROPE DIVERSIFIED INDEX EPRDE EPRDU EPRDG EPRDJ EPRDA TEPRDE TEPRDU TEPRDG TEPRDJ TEPRDA
EUROPE EURO ZONE CAPPED INDEX EOEU EOEUU EOEUG EOEUJ TEOEUE TEOEUU TEOEUG TEOEUJ R0EU R0EU R0EU R0EU
EUROPE EURO ZONE DIVERSIFIED INDEX EPEDE EPEDU EPEDG EPEDJ EPEDA TEPEDE TEPEDU TEPEDG TEPEDJ TEPEDA
EUROPE EURO ZONE INDEX EPEU UPEU GPEU YPEU RPEU RUPEU RGPEU RYEU NEPEU NUPEU NPPEU NYPEU
EUROPE EURO ZONE INDUSTRIAL INDEX EPEIE EPEIU EPEIG EPEIJ EPEIA TEPEIE TEPEIU TEPEIG TEPEIJ TEPEIA
EUROPE EURO ZONE OFFICE INDEX EPEFE EPEFU EPEFG EPEFJ EPEFA TEPEFE TEPEFU TEPEFG TEPEFJ TEPEFA
EUROPE EURO ZONE RESIDENTIAL INDEX EPERE EPERU EPERG EPERJ EPERA TEPERE TEPERU TEPERG TEPERJ TEPERA
EUROPE EURO ZONE RETAIL INDEX EPETE EPETU EPETG EPETJ EPETA TEPETE TEPETU TEPETG TEPETJ TEPETA
EUROPE EX UK CAPPED INDEX EOUK EOUKU EOUKG EOUKJ TEOUKE TEOUKU TEOUKG TEOUKJ R0UK R0UK R0UK R0UK
EUROPE EX UK DIVIDEND+ INDEX ENDP
EUROPE EX UK INDEX EXUK UXUK GXUK YXUK RXUK RUXUK RGXUK RYXU REXUK NUXUK NPXUK NYXUK
EUROPE EX UK LIQUID INDEX GSLQEUE GSLQEUU GSLQEUG GSLQEUJ GSLQEUA GSLQEUH (HKD), GSLQEUS (SGD) TGSLQEUE TGSLQEUU TGSLQEUG TGSLQEUJ TGSLQEUA TGSLQEUH (HKD), TGSLQEUS (SGD)
EUROPE HEALTHCARE INDEX EPRHE EPRHU EPRHG EPRHJ EPRHA TEPRHE TEPRHU TEPRHG TEPRHJ TEPRHA
EUROPE INDEX EPRA UPRA GPRA YPRA RPRA RUPRA RGPRA RYRA NEPRA NUPRA NPPRA NYPRA
EUROPE INDUSTRIAL INDEX EPRIE EPRIU EPRIG EPRIJ EPRIA TEPRIE TEPRIU TEPRIG TEPRIJ TEPRIA
EUROPE LIQUID 40 CAPPED INDEX INDEX SOELU SOELG SEOLJ TSOELE TSOELU TSOELG TSOELJ R0EL R0EL R0EL R0EL
EUROPE LIQUID 40 EX UK CAPPED INDEX SOXUU SOXUG SOXUJ TSOXUE TSOXUU TSOXUG TSOXUJ R0XU R0XU R0XU R0XU
EUROPE LIQUID 40 EX UK INDEX SSXU USXU PSXU YSXU RSXU RUSX RPXU RYSX NSXU NUSXU NPSXU NYSXU
EUROPE LIQUID 40 INDEX SSEL USEL PSEL YSEL RSSL RUSE RPEL RYSE NSSL NUSSL NPSSL NYSSL
EUROPE LODGINGS/RESORTS INDEX EPRLE EPRLU EPRLG EPRLJ EPRLA TEPRLE TEPRLU TEPRLG TEPRLJ TEPRLA
EUROPE NON-REITS INDEX ENEE ENEEU ENEEG ENEEJ ENEEA TENEEE TENEEU TENEEG TENEEJ TENEEA
EUROPE OFFICE INDEX EPRFE EPRFU EPRFG EPRFJ EPRFA TEPRFE TEPRFU TEPRFG TEPRFJ TEPRFA
EUROPE REITS INDEX EREE EREEU EREEG EREEJ EREEA TEREEE TEREEU TEREEG TEREEJ TEREEA
EUROPE RESIDENTIAL INDEX EPREE EPREU EPREG EPREJ EPREA TEPREE TEPREU TEPREG TEPREJ TEPREA
EUROPE RETAIL INDEX EPRTE EPRTU EPRTG EPRTJ EPRTA TEPRTE TEPRTU TEPRTG TEPRTJ TEPRTA
EUROPE SELF STORAGE INDEX EPRSE EPRSU EPRSG EPRSJ EPRSA TEPRSE TEPRSU TEPRSG TEPRSJ TEPRSA
EUROPE SPECIALTY INDEX EPRPE EPRPU EPRPG EPRPJ EPRPA TEPRPE TEPRPU TEPRPG TEPRPJ TEPRPA
EUROPE UK RESTRICTED INDEX EPHG UPHG PPHG YPHG RPHG RUPH RPPH RYPH TRPHGE TRPHGU TRPHGG TRPHGJ
EUROPE EMERGING INDEX FENEU
EMEA EMERGING INDEX FENEM
FINLAND INDEX EPFI UPFI PPFI YPFI RPFI RUPFI RPPFI RYFI TRPFIE TRPFIU TRPFIG TRPFIJ
FRANCE INDEX EPFR UPFR PPFR YPFR RPFR RUPFR RPPFR RYFR TRPFRE TRPFRU TRPFRG TRPFRJ
446
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Data Vendor Codes - Indices
EUR USD GBP JPY AUD Lo c al EUR USD GBP JPY AU D Lo cal EUR USD GB P J PY AU D L oca l
Pr ic e In dices Gross Total Retu rn Ind ice s Net To tal Retu rn Ind ice s
GERMANY INDEX EPGR UPGR PPGR YPGR RPGR RUPGR RPPGR RYGR TRPGRE TRPGRU TRPGRG TRPGRJ
GLOBAL DIVERSIFIED INDEX ENGVE ENGVU ENGVG ENGVJ ENGVA TENGVE TENGVU TENGVG TENGVJ TENGVA
GLOBAL DIVIDEND+ INDEX ENGD
GLOBAL EX ASIA INDEX EGXA UGXA PGXA YGXA REXA RUXA RPXA RYXA TRGXAE TRGXAU TRGXAG TRGXAJ
GLOBAL EX ASIA NON-REITS INDEX ENXAE ENXAU ENXAG ENXAJ TENXAE TENXAU TENXAG TENXAJ
GLOBAL EX ASIA REITS INDEX ERXAE ERXAU ERXAG ERXAJ TERXAE TERXAU TERXAG TERXAJ
GLOBAL EX AUSTRALIA HEDGED IN AUD INDEX EGAAL TEGAAL
GLOBAL EX AUSTRALIA HEDGED IN USD INDEX EGAHU TEGAHU
GLOBAL EX AUSTRALIA INDEX GAXAU GAXAA TGAXAU TGAXAA TRAXAU TRAXAA
GLOBAL EX AUSTRALIA NON-RENTAL IN AUD HEDGED INDEX GAHNU GAHNA TGAHNU TGAHNA
GLOBAL EX AUSTRALIA NON-RENTAL IN AUD UNHEDGED INDEX GAUNU GAUNA TGAUNU TGAUNA
GLOBAL EX AUSTRALIA RENTAL IN AUD HEDGED INDEX GAHRU GAHRA TGAHRU TGAHRA
GLOBAL EX AUSTRALIA RENTAL IN AUD UNHEDGED INDEX GAURU GAURA TGAURU TGAURA
GLOBAL EX EUROPE INDEX EGXE UGXE PGXE YGXE REXE RUXE RPXE RYXE TRGXEE TRGXEU TRGXEG TRGXEJ
GLOBAL EX EUROPE NON-REITS INDEX ENXEE ENXEU ENXEG ENXEJ TENXEE TENXEU TENXEG TENXEJ
GLOBAL EX EUROPE REITS INDEX ERXEE ERXEU ERXEG ERXEJ TERXEE TERXEU TERXEG TERXEJ
GLOBAL EX JAPAN INDEX EGXJE EGXJU EGXJG EGXJJ TEGXJE TEGXJU TEGXJG TEGXJJ TRGXJE TRGXJU TRGXJG TRGXJJ
GLOBAL EX NORTH AMERICA EGXN UGXN PGXN YGXN REXN RUXN RPXN RYXN TRGXNE TRGXNU TRGXNG TRGXNJ
GLOBAL EX US INDEX EUGXU EGXU PGXU YGXU REUGXU REGXU RPGXU RYGXU TRGXUE TRGXUU TRGXUG TRGXUJ
GLOBAL EX US LIQUID INDEX GSLXUSE GSLXUSU GSLXUSG GSLXUSJ GSLXUSA GSLXUSH (HKD), GSLXUSS (SGD) TGSLXUSE TGSLXUSU TGSLXUSG TGSLXUSJ TGSLXUSA TGSLXUSh (HKD), TGSLXUSS (SGD)
GLOBAL EX US NON-REITS INDEX ENXUE ENXUU ENXUG ENXUJ TENXUE TENXUU TENXUG TENXUJ
GLOBAL EX US REITS INDEX ERXUE ERXUU ERXUG ERXUJ TERXUE TERXUU TERXUG TERXUJ
GLOBAL HEALTHCARE INDEX ENGEE ENGEU ENGEG ENGEJ ENGEA TENGEE TENGEU TENGEG TENGEJ TENGEA
GLOBAL HEDGED IN AUD INDEX EGHAA TEGHAA
GLOBAL INDEX ENGL UNGL PNGL YNGL RNGL RUGL RPGL RYGL TRNGLE TRNGLU TRNGLG TRNGLJ
GLOBAL INDUSTRIAL INDEX ENGIE ENGIU ENGIG ENGIJ ENGIA TENGIE TENGIU TENGIG TENGIJ TENGIA
GLOBAL INDUSTRIAL/OFFICE INDEX ENGME ENGMU ENGMG ENGMJ ENGMA TENGME TENGMU TENGMG TENGMJ TENGMA
GLOBAL LIQUID INDEX GSLQGLE GSLQGLU GSLQGLG GSLQGLJ GSLQGLA GSLQGLH (HKD), GSLQGLS (SGD) TGSLQGLE TGSLQGLU TGSLQGLG TGSLQGLJ TGSLQGLA TGSLQGLH (HKD), TGSLQGLS (SGD)
GLOBAL LODGINGS/RESORTS INDEX ENGOE ENGOU ENGOG ENGOJ ENGOA TENGOE TENGOU TENGOG TENGOJ TENGOA
GLOBAL NON-REITS INDEX ENRGE ENRGU ENRGG ENRGJ TENRGE TENRGU TENRGG TENRGJ
GLOBAL OFFICE INDEX ENGFE ENGFU ENGFG ENGFJ ENGFA TENGFE TENGFU TENGFG TENGFJ TENGFA
GLOBAL REITS INDEX ERGLU
GLOBAL REITS INDEX ERGLE ERGLU ERGLG ERGLJ TERGLE TERGLU TERGLG TERGLJ
GLOBAL RESIDENTIAL INDEX ENGAE ENGAU ENGAG ENGAJ ENGAA TENGAE TENGAU TENGAG TENGAJ TENGAA
GLOBAL RETAIL INDEX ENGTE ENGTU ENGTG ENGTJ ENGTA TENGTE TENGTU TENGTG TENGTJ TENGTA
GLOBAL SELF STORAGE INDEX ENGSE ENGSU ENGSG ENGSJ ENGSA TENGSE TENGSU TENGSG TENGSJ TENGSA
GLOBAL SPECIALTY INDEX ENGPE ENGPU ENGPG ENGPJ ENGPA TENGPE TENGPU TENGPG TENGPJ TENGPA
GREECE INDEX EPGC UPGC PPGC YPGC RPGC RUGC RPPGC RYGC TRPGCE TRPGCU TRPGCG TRPGCJ
HONG KONG INDEX ENHK USHK PLHK YLHK ELHK (HKD) REHK RUHK RPHK RYHK RHHK (HKD) TRLHKE TRLHKU TRLHKG TRLHKJ TRLHKL (HKD)
HUNGARY INDEX TRPHUE TRPHUU TRPHUG TRPHUJ TRPHUL (HUG)
IRELAND INDEX EPIR UPIR RPIR RUPIR TRPIRE TRPIRU TRPIRG TRPIRJ
ITALY INDEX EPIT UPIT PPIT YPIT RPIT RUPIT RPPI RYIT TRPITE TRPITU TRPITG TRPITJ
JAPAN INDEX ENJP UNJP PLJP ELJP REJP RUJP RPLJ RYJP TRPJPE TRPJPU TRPJPG TRPJPJ
JAPAN LIQUID INDEX LIQELJE LIQELJU LIQELJG LIQELJJ LIQELJA LIQELJH (HKD), LIQELJS (SGD) TLIQELJE TLIQELJU TLIQELJG TLIQELJJ TLIQELJA TLIQELJH (HKD), TLIQELJS (SGD)
NETHERLANDS INDEX EPNL UPNL PPNL YPNL RPNL RUPNL RPPN RYNL TRPNLE TRPNLU TRPNLG TRPNLJ
NEW ZEALAND INDEX ENNZ UNNZ PLNZ YLNZ ELNZ (NZD) REGNZ RUNZ RPNZ RYNZ RLPNZ (NZD) TRLNZE TRLNZU TRLNZG TRLNZJ TRLNZL (NZD)
NORTH AMERICA DIVERSIFIED INDEX EGNDE EGNDU EGNDG EGNDJ EGNDA TEGNDE TEGNDU TEGNDG TEGNDJ TEGNDA
NORTH AMERICA HEALTHCARE INDEX EGNHE EGNHU EGNHG EGNHJ EGNHA TEGNHE TEGNHU TEGNHG TEGNHJ TEGNHA
NORTH AMERICA INDEX EGNA UGNA PGNA YGNA REGN RUGN RPGN RYNA TRGNAE TRGNAU TRGNAG TRGNAJ
NORTH AMERICA INDUSTRIAL INDEX EGNIE EGNIU EGNIG EGNIJ EGNIA TEGNIE TEGNIU TEGNIG TEGNIJ TEGNIA
NORTH AMERICA LIQUID INDEX GSLQNAE GSLQNAU GSLQNAG GSLQNAJ GSLQNAA GSLQNAH (HKD), GSLQNAS (SGD) TGSLQNAE TGSLQNAU TGSLQNAG TGSLQNAJ TGSLQNAA TGSLQNAH (HKD), TGSLQNAS (SGD)
NORTH AMERICA LODGINGS RESORTS INDEX EGNLE EGNLU EGNLG EGNLJ EGNLA TEGNLE TEGNLU TEGNLG TEGNLJ TEGNLA
NORTH AMERICA NIDUSTRAL/OFFICE MIXED INDEX EGNME EGNMU EGNMG EGNMJ EGNMA TEGNME TEGNMU TEGNMG TEGNMJ TEGNMA
NORTH AMERICA OFFICE INDEX EGNFE EGNFU EGNFG EGNFJ EGNFA TEGNFE TEGNFU TEGNFG TEGNFJ TEGNFA
NORTH AMERICA RESIDENTIAL INDEX EGNEE EGNEU EGNEG EGNEJ EGNEA TEGNEE TEGNEU TEGNEG TEGNEJ TEGNEA
NORTH AMERICA RETAIL INDEX EGNTE EGNTU EGNTG EGNTJ EGNTA TEGNTE TEGNTU TEGNTG TEGNTJ TEGNTA
NORTH AMERICA SELF STORAGE INDEX EGNSE EGNSU EGNSG EGNSJ EGNSA TEGNSE TEGNSU TEGNSG TEGNSJ TEGNSA
NORTH AMERICA SPECIALTY INDEX EGNPE EGNPU EGNPG EGNPJ EGNPA TEGNPE TEGNPU TEGNPG TEGNPJ TEGNPA
NORWAY INDEX EPNK UPNK ELNK (NOK) RPNK RUPNK RLNK (NOK) TRLNKE TRLNKU TRLNKG TRLNKJ TRLNKL (NOK)
MIDDLE EAST/AFRICA EMERGIN INDEX FENME
POLAND INDEX TRPPOE TRPPOU TRPPOG TRPPOJ TRPPOL (PLN)
PORTUGAL INDEX EPPT UPPT RPPT RUPPT TRPPTE TRPPTU TRPPTG TRPPTJ
PURE ASIA EX AUSTRALIA INDEX TFEPAEAE
PURE ASIA INDEX EGPA UGPA PGPA YGPA RGPA RUPA RPPA RYPA TRGPAE TRGPAU TRGPAG TRGPAJ
PURE AUSTRALIA INDEX EPAU UPAU PPAU YPAU LPAU REPAU RAUU RPPAU RYPAU RLPA TRPAUE TRPAUU TRPAUG TRPAUJ TRPAUL
SINGAPORE INDEX ENSI UNSI PLSI YLSI ELSI (SGD) RESI RUSI RPSI RYSI RDSI (SGD) TRLSIE TRLSIU TRLSIG TRLSIJ TRLSIL (SGD)
SOUTH KOREA INDEX TRPKRE TRPKRU TRPKRG TRPKRJ TRPKRL (KRW)
SPAIN INDEX EPSP UPSP PPSP YPSP RPSP RUPSP RPPS RYSP TRPSPE TRPSPU TRPSPG TRPSPJ
SWEDEN INDEX EPSD UPSD PLSD YLSD ELSD (SEK) RPSD RUPSD RPLSD RYSD RLSD (SEK) TRLSDE TRLSDU TRLSDG TRLSDJ TRLSDL (SEK)
SWITZERLAND INDEX EPSW UPSW PPSW YLSW ELSW (CHF) RPSW RUPSW RPLSW RYSW RLSW (CHF) TRLSWE TRLSWU TRLSWG TRLSWJ TRLSWL (CHF)
447
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Data Vendor Codes - Indices
EUR USD GBP JPY AUD Lo c al EUR USD GBP JPY AU D Lo cal EUR USD GB P J PY AU D L oca l
Pr ic e In dices Gross Total Retu rn Ind ice s Net To tal Retu rn Ind ice s
UK DIVERSIFIED INDEX ELUDE ELUDU ELUDG ELUDJ ELUDA TELUDE TELUDU TELUDG TELUDJ TELUDA
UK HEALTHCARE INDEX ELUHE ELUHU ELUHG ELUHJ ELUHA TELUHE TELUHU TELUHG TELUHJ TELUHA
UK INDEX EPUK UPUK ELUK YLUK RPUK RUPUK RLUK RYUK NEPUK NUPUK NPPUK NYPUK
UK INDUSTRAL INDEX ELUIE ELUIU ELUIG ELUIJ ELUIA TELUIE TELUIU TELUIG TELUIJ TELUIA
UK LIQUID INDEX LIQELUE LIQELUU LIQELUG LIQELUJ LIQELUA LIQELUH (HKD), LIQELUS (SGD) TLIQELUE TLIQELUU TLIQELUG TLIQELUJ TLIQELUA TLIQELUH (HKD), TLIQELUS (SGD)
UK LODGINGS/RESORTS INDEX ELULE ELULU EULUG EULUJ ELULA TELULE TELULU TEULUG TEULUJ TELULA
UK NON-REITS INDEX ENUKNRE ENUKNRU ENUKNRG ENUKNRJ TENUKNRE TENUKNRU TENUKNRG TENUKNRJ
UK OFFICE INDEX ELUFE ELUFU ELUFG ELUFJ ELUFA TELUFE TELUFU TELUFG TELUFJ TELUFA
UK PROPERTY INDEX INAVEUPE INAVEUPU INAVEUPG INAVEUPC (CHF)
UK REITS INDEX ENUKRE ENUKRU ENUKRG ENUKRJ TENUKRE TENUKRU TENUKRG TENUKRJ
UK RESIDENTIAL INDEX ELUEE ELUEU ELUEG ELUEJ ELUEA TELUEE TELUEU TELUEG TELUEJ TELUEA
UK RETAIL INDEX ELUTE ELUTU ELUTG ELUTJ ELUTA TELUTE TELUTU TELUTG TELUTJ TELUTA
UK SELF STORAGE INDEX ELUSE ELUSU ELUSG ELUSJ ELUSA TELUSE TELUSU TELUSG TELUSJ TELUSA
UK SPECIALTY INDEX ELUPE ELUPU ELUPG ELUPJ ELUPA TELUPE TELUPU TELUPG TELUPJ TELUPA
US DIVERSIFIED INDEX UNUDE UNUDU UNUDG UNUDJ UNUDA TUNUDE TUNUDU TUNUDG TUNUDJ TUNUDA
US DIVIDEND+ INDEX ENUD
US HEALTHCARE INDEX UNUHE UNUHU UNUHG UNUHJ UNUHA TUNUHE TUNUHU TUNUHG TUNUHJ TUNUHA
US INDEX ENUS UNUS PNUS YNUS REUS RUUS RPNU RYUS TRNUSE TRNUSU TRNUSG TRNUSJ
US INDUSTRIAL INDEX UNUIE UNUIU UNUIG UNUIJ UNUIA TUNUIE TUNUIU TUNUIG TUNUIJ TUNUIA
US INDUSTRIAL/OFFICE MIXED INDEX UNUME UNUMU UNUMG UNUMJ UNUMA TUNUME TUNUMU TUNUMG TUNUMJ TUNUMA
US LODGINGS/RESORTS INDEX UNULE UNULU UNULG UNULJ UNULA TUNULE TUNULU TUNULG TUNULJ TUNULA
US OFFICE INDEX UNUFA UNUFU UNUFG UNUFJ UNUFA TUNUFA TUNUFU TUNUFG TUNUFJ TUNUFA
US RESIDENTIAL INDEX UNUEE UNUEU UNUEG UNUEJ UNUEA TUNUEE TUNUEU TUNUEG TUNUEJ TUNUEA
US RETAIL INDEX UNUTE UNUTU UNUTG UNUTJ UNUTA TUNUTE TUNUTU TUNUTG TUNUTJ TUNUTA
US SELF STORAGE INDEX UNUOE UNUOU UNUOG UNUOJ UNUOA TUNUOE TUNUOU TUNUOG TUNUOJ TUNUOA
US SPECIALTY INDEX UNUPE UNUPU UNUPG UNUPJ UNUPA TUNUPE TUNUPU TUNUPG TUNUPJ TUNUPA
448
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Data Vendor Codes - Indices
EUR USD GBP JPY AUD Lo c al EUR USD GBP JPY AU D Lo cal EUR USD GB P J PY AU D L oca l
Pr ic e In dices Gross Total Retu rn Ind ice s Net To tal Retu rn Ind ice s
AMERICAS EMERGING INDEX .FTENEL
ASIA 33 INDEX .FTENAE3 .FTENA3
ASIA DIVIDEND+ INDEX .FTENAD .FTENAD
ASIA EMERGING INDEX .FTENEA
ASIA EX AUSTRALIA INDEX .TFTRPAAE .TFTRPAAU .TFTRPAAS .TFTRPAAY .TFTRPAAL
ASIA INDEX .FTEGAS .FTUGAS .FTEGASE .FTEGASU .FTEGASY .FTEGASS .FTEGASL .TFTRGASE .TFTRGASU .TFTRGASS .TFTRGASY .TFTRGASL
ASIA NON-REITS INDEX .FTENASE .FTENASU .FTENASS .FTENASY .FTENASL .TFTENASE .TFTENASU .TFTENASS .TFTENASY .TFTENASL
ASIA REITS INDEX .FTERASE .FTERASU .FTERASS .FTERASY .FTERASL .TFTERASE .TFTERASU .TFTERASS .TFTERASY .TFTERASL
AUSTRALIA INDEX .FTELAU .FTELAUE .FTELAUU .FTELAUY .FTELAUS .FTELAUL .TFTELAUE .TFTELAUU .TFTELAUS .TFTELAUY .TFTELAUL
AUSTRIA INDEX .FTEPASE .FTEPASU .FTEPASY .FTEPASS .FTEPASL .TFTRPASE .TFTRPASU .TFTRPASS .TFTRPASY .TFTRPASL
BELGIUM INDEX .FTEPBLE .FTEPBLU .FTEPBLY .FTEPBLS .FTEPBLL .TFTRPBLE .TFTRPBLU .TFTRPBLS .TFTRPBLY .TFTRPBLL
CANADA INDEX .FTELCAE .FTELCAU .FTELCAY .FTELCAS .FTELCAL .TFTELCAE .TFTELCAU .TFTELCAS .TFTELCAY .TFTELCAL
CZECH INDEX .TFTRPCZL
DENMARK INDEX .FTELDKE .FTELDKU .FTELDKY .FTELDKS .FTELDKL .TFTELDKE .TFTELDKU .TFTELDKS .TFTELDKY .TFTELDKL
EMERGING MARKET INDEX .FTENEI
EUROPE CAPPED INDEX .FTEORA .FTEORA
EUROPE EURO ZONE CAPPED INDEX .FTEOEU .FTEOEU
EUROPE EURO ZONE INDEX .FTEPEU .FTEPEUE .FTEPEUU .FTEPEUY .FTEPEUS .FTEPEUL .TFTRPEUE .TFTRPEUU .TFTRPEUS .TFTRPEUY .TFTRPEUL
EUROPE EX UK CAPPED INDEX .FTEOUK .FTEOUK
EUROPE EX UK DIVIDEND+ INDEX .FTENDP .TFTENDPE .TFTENDPU .TFTENDPS .TFTENDPY .TFTENDPL
EUROPE EX UK INDEX .FTEXUK .FTEXUKE .FTEXUKU .FTEXUKY .FTEXUKS .FTEXUKL .TFTRXUKE .TFTRXUKU .TFTRXUKS .TFTRXUKY .TFTRXUKL
EUROPE INDEX .FTEPRA .FTUPRA .FTEPRAE .FTEPRAU .FTEPRAY .FTEPRAS .FTEPRAL .TFTRPRAE .TFTRPRAU .TFTRPRAS .TFTRPRAY .TFTRPRAL
EUROPE LIQUID 40 EX UK INDEX .FTSSXUE .FTSSXUU .FTSSXUY .FTSSXUS .FTSSXUL .TFTSSXUE .TFTSSXUU .TFTSSXUS .TFTSSXUY .TFTSSXUL
EUROPE LIQUID 40 INDEX .FTSSELE .FTSSELU .FTSSELY .FTSSELS .FTSSELL .TFTSSELE .TFTSSELU .TFTSSELS .TFTSSELY .TFTSSELL
EUROPE NON-REITS INDEX .FTENEE .FTENEE
EUROPE REITS INDEX .FTEREE .FTEREE
EUROPE UK RESTRICTED INDEX .FTEPHG .FTEPHGE .FTEPHGU .FTEPHGY .FTEPHGS .FTEPHGL .TFTRPHGE .TFTRPHGU .TFTRPHGS .TFTRPHGY .TFTRPHGL
EUROPE EMERGING INDEX .FTENEU
EMEA EMERGING INDEX .FTENEM
FINLAND INDEX .FTEPFIE .FTEPFIU .FTEPFIY .FTEPFIS .FTEPFIL .TFTRPFIE .TFTRPFIU .TFTRPFIS .TFTRPFIY .TFTRPFIL
FRANCE INDEX .FTEPFRE .FTEPFRU .FTEPFRY .FTEPFRS .FTEPFRL .TFTRPFRE .TFTRPFRU .TFTRPFRS .TFTRPFRY .TFTRPFRL
GERMANY INDEX .FTEPGRE .FTEPGRU .FTEPGRY .FTEPGRS .FTEPGRL .TFTRPGRE .TFTRPGRU .TFTRPGRS .TFTRPGRY .TFTRPGRL
GLOBAL DIVIDEND+ INDEX .FTENGD .FTENGED
GLOBAL EX ASIA INDEX .FTEGXAE .FTEGXAU .FTEGXAY .FTEGXAS .FTEGXAL .TFTRGXAE .TFTRGXAU .TFTRGXAS .TFTRGXAY .TFTRGXAL
GLOBAL EX ASIA NON-REITS INDEX .FTENXAE .FTENXAU .FTENXAS .FTENXAY .FTENXAL .TFTENXAE .TFTENXAU .TFTENXAS .TFTENXAY .TFTENXAL
GLOBAL EX ASIA REITS INDEX .FTERXAE .FTERXAU .FTERXAS .FTERXAY .FTERXAL .TFTERXAE .TFTERXAU .TFTERXAS .TFTERXAY .TFTERXAL
GLOBAL EX AUSTRALIA HEDGED IN AUD INDEX .FTEGAAA .TFTEGAAL
GLOBAL EX AUSTRALIA HEDGED IN USD INDEX .TFTEGAHU .TFTEGAHL
GLOBAL EX AUSTRALIA INDEX .TFTRAXAA
GLOBAL EX EUROPE INDEX .FTEGXEE .FTEGXEU .FTEGXEY .FTEGXES .FTEGXEL .TFTRGXEE .TFTRGXEU .TFTRGXES .TFTRGXEY .TFTRGXEL
GLOBAL EX EUROPE NON-REITS INDEX .FTENXEE .FTENXEU .FTENXES .FTENXEY .FTENXEL .TFTENXEE .TFTENXEU .TFTENXES .TFTENXEY .TFTENXEL
GLOBAL EX EUROPE REITS INDEX .FTERXEE .FTERXEU .FTERXES .FTERXEY .FTERXEL .TFTERXEE .TFTERXEU .TFTERXES .TFTERXEY .TFTERXEL
GLOBAL EX JAPAN INDEX .TFTRGXJE .TFTRGXJU .TFTRGXJS .TFTRGXJY .TFTRGXJL
GLOBAL EX NORTH AMERICA INDEX .FTEGXNE .FTEGXNU .FTEGXNY .FTEGXNS .FTEGXNL .TFTRGXNE .TFTRGXNU .TFTRGXNS .TFTRGXNY .TFTRGXNL
GLOBAL EX NORTH AMERICA REITS INDEX .TFTERXUE .TFTERXUU .TFTERXUS .TFTERXUY .TFTERXUL
GLOBAL EX US INDEX .FTEGXO .TFTEGXUE .TFTEGXUU .TFTEGXUS .TFTEGXUY .TFTEGXUL
GLOBAL EX US NON-REITS INDEX .FTENXUE .FTENXUU .FTENXUS .FTENXUY .FTENXUL .TFTENXUE .TFTENXUU .TFTENXUS .TFTENXUY .TFTENXUL
GLOBAL EX US REITS INDEX .FTERXUE .FTERXUU .FTERXUS .FTERXUY .FTERXUL
GLOBAL HEDGED IN AUD INDEX .FTSEGHAA
GLOBAL HEDGED IN USD INDEX .TFTELHAU .TFTELHAL
GLOBAL INDEX .FTENGL .FTUNGL .FTENGLE .FTENGLU .FTENGLY .FTENGLS .FTENGLL .TFTRNGLE .TFTRNGLU .TFTRNGLS .TFTRNGLY .TFTRNGLL
GLOBAL NON-REITS INDEX .FTENRGE .FTENRGU .FTENRGS .FTENRGY .FTENRGL
GLOBAL REITS INDEX .FTERGLE .FTERGLU .FTERGLS .FTERGLY .FTERGLL .TFTERGLE .TFTERGLU .TFTERGLS .TFTERGLY .TFTERGLL
GREECE INDEX .FTEPGCE .FTEPGCU .FTEPGCY .FTEPGCS .FTEPGCL .TFTRPGCE .TFTRPGCU .TFTRPGCS .TFTRPGCY .TFTRPGCL
HONG KONG INDEX .FTELHK .FTELHKE .FTELHKU .FTELHKY .FTELHKS .FTELHKL .TFTELHKE .TFTELHKU .TFTELHKS .TFTELHKY .TFTELHKL
HUNGARY INDEX .TFTRPHUL
IRELAND INDEX .FTEPIRE .FTEPIRU .FTEPIRY .FTEPIRS .FTEPIRL .TFTRPIRE .TFTRPIRU .TFTRPIRS .TFTRPIRY .TFTRPIRL
ITALY INDEX .FTEPITE .FTEPITU .FTEPITY .FTEPITS .FTEPITL .TFTRPITE .TFTRPITU .TFTRPITS .TFTRPITY .TFTRPITL
JAPAN INDEX .FTELJP .FTELJPE .FTELJPU .FTELJPY .FTELJPS .FTELJPL .TFTELJPE .TFTELJPU .TFTELJPS .TFTELJPY .TFTELJPL
NETHERLANDS INDEX .FTEPNLE .FTEPNLU .FTEPNLY .FTEPNLS .FTEPNLL .TFTRPNLE .TFTRPNLU .TFTRPNLS .TFTRPNLY .TFTRPNLL
NEW ZEALAND INDEX .FTELNZE .FTELNZU .FTELNZY .FTELNZS .FTELNZL .TFTELNZE .TFTELNZU .TFTELNZS .TFTELNZY .TFTELNZL
NORTH AMERICA INDEX .FTEGNA .FTUGNA .FTEGNAE .FTEGNAU .FTEGNAY .FTEGNAS .FTEGNAL .TFTRGNAE .TFTRGNAU .TFTRGNAS .TFTRGNAY .TFTRGNAL
NORWAY INDEX .FTELNKE .FTELNKU .FTELNKY .FTELNKS .FTELNKL .TFTELNKE .TFTELNKU .TFTELNKS .TFTELNKY .TFTELNKL
MIDDLE EAST/AFRICA EMERGIN INDEX .FTENME
POLAND INDEX .TFTRPPOE .TFTRPPOU .TFTRPPOS .TFTRPPOY .TFTRPPOL
PORTUGAL INDEX .FTEPPTE .FTEPPTU .FTEPPTY .FTEPPTS .FTEPPTL .TFTRPPTE .TFTRPPTU .TFTRPPTS .TFTRPPTY .TFTRPPTL
PURE ASIA INDEX .FTEGPAE .FTEGPAU .FTEGPAY .FTEGPAS .FTEGPAL .TFTRGPAE .TFTRGPAU .TFTRGPAS .TFTRGPAY .TFTRGPAL
PURE AUSTRALIA INDEX .FTLPAUE .FTLPAUU .FTLPAUY .FTLPAUS .FTLPAUL .TFTLPAUE .TFTLPAUU .TFTLPAUS .TFTLPAUY .TFTLPAUL
SINGAPORE INDEX .FTELSIE .FTELSIU .FTELSIY .FTELSIS .FTELSIL .TFTELSIE .TFTELSIU .TFTELSIS .TFTELSIY .TFTELSIL
SOUTH KOREA INDEX .TFTRPKRL
449
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
Data Vendor Codes - Indices
EUR USD GBP JPY AUD Lo c al EUR USD GBP JPY AU D Lo cal EUR USD GB P J PY AU D L oca l
Pr ic e In dices Gross Total Retu rn Ind ice s Net To tal Retu rn Ind ice s
SPAIN INDEX .FTEPSPE .FTEPSPU .FTEPSPY .FTEPSPS .FTEPSPL .TFTRPSPE .TFTRPSPU .TFTRPSPS .TFTRPSPY .TFTRPSPL
SWEDEN INDEX .FTELSDE .FTELSDU .FTELSDY .FTELSDS .FTELSDL .TFTELSDE .TFTELSDU .TFTELSDS .TFTELSDY .TFTELSDL
SWITZERLAND INDEX .FTELSWE .FTELSWU .FTELSWY .FTELSWS .FTELSWL .TFTELSWE .TFTELSWU .TFTELSWS .TFTELSWY .TFTELSWL
UK INDEX .FTELUK .FTELUKE .FTELUKU .FTELUKY .FTELUKS .FTELUKL .TFTRPUKE .TFTRPUKU .TFTRPUKS .TFTRPUKY .TFTRPUKL
UK NON-REITS INDEX .FTENUKNRE .FTENUKNRU .FTENUKNRS .FTENUKNRY .FTENUKNRS
UK REITS INDEX .FTENUKRE .FTENUKRU .FTENUKRS .FTENUKRY .FTENUKRS
US DIVIDEND+ INDEX .FTENUD .FTENUD
US INDEX .FTUNUS .FTUNUSE .FTUNUSU .FTUNUSY .FTUNUSS .FTUNUSL .TFTUNUSE .TFTUNUSU .TFTUNUSS .TFTUNUSY .TFTUNUSL
THOMSON ONE
450
Data Vendor Codes - Indices
Square de Meeus 23 ■ B-1000 Brussels, Belgium ■ T +32 2739 1010 ■ F +32 2739 1020 ■ E [email protected] ■ W www.epra.com
Version: May 2011
DATASTREAMFTSE EPRA/NAREIT Indices - Data Vendor Codes
* Bold indicates real time calculation
Index EUR USD GBP JPY AUD Local EUR USD GBP JPY AUD Local EUR USD GBP JPY AUD Local
Price Indices Gross Total Return Indices Net Total Return Indices
ASIA INDEX EPRAASE PI EPRAASU PI EPRAASG PI EPRAASE RI EPRAASU RI EPRAASG RI
AUSTRALIA INDEX EPRAAUE PI EPRAAUU PI EPRAAUA PI EPRAAUE RI EPRAAUU RI EPRAAUA RI
AUSTRIA INDEX EPRAAUS PI EPRAAU$ PI EPRAAUS RI EPRAAU$ RI
BELGIUM INDEX EPRABGE PI EPRABGU PI EPRABGE RI EPRABGU RI
CANADA INDEX EPRACAE PI EPRACAU PI EPRACAC PI EPRACAE RI EPRACAU RI EPRACAC RI
DENMARK INDEX EPRADKE PI EPRADKU PI EPRADKD PI EPRADKE RI EPRADKU RI EPRADKD RI
EUROPE EURO ZONE INDEX EPRAEZE PI EPRAEZU PI EPRAEZG PI EPRAEZE RI EPRAEZU RI EPRAEZG RI
EUROPE EX UK INDEX EPRAXUE PI EPRAXUU PI EPRAXUG PI EPRAXUE RI EPRAXUU RI EPRAXUG RI
EUROPE INDEX EPRAIXE PI EPRAIXU PI EPRAIXG PI EPRAIXE RI EPRAIXU RI EPRAIXG RI
FINLAND INDEX EPRAFNE PI EPRAFNU PI EPRAFNE RI EPRAFNU RI
FRANCE INDEX EPRAFRE PI EPRAFRU PI EPRAFRE RI EPRAFRU RI
GERMANY INDEX EPRAGRE PI EPRAGRU PI EPRAGRE RI EPRAGRU RI
GLOBAL EX ASIA INDEX EPRGXAE PI EPRGXAU PI EPRGXAG PI EPRGXAE RI EPRGXAU RI EPRGXAG RI
GLOBAL EX EUROPE INDEX EPRGXEE PI EPRGXEU PI EPRGXEG PI EPRGXEE RI EPRGXEU RI EPRGXEG RI
GLOBAL EX NORTH AMERICA INDEX EPRXNAE PI EPRXNAU PI EPGXNAG PI EPRXNAE RI EPRXNAU RI EPGXNAG RI
GLOBAL INDEX EPRAGLE PI EPRAGLU PI EPRAGLG PI EPRAGLE RI EPRAGLU RI EPRAGLG RI
HONG KONG INDEX EPRAHKE PI EPRAHKU PI EPRAHKH PI EPRAHKE RI EPRAHKU RI EPRAHKH RI
IRELAND INDEX EPRAIRE PI EPRAIRU PI EPRAIRE RI EPRAIRU RI
ITALY INDEX EPRAITE PI EPRAITU PI EPRAITE RI EPRAITU RI
JAPAN INDEX EPRAJPE PI EPRAJPU PI EPRAJPJ PI EPRAJPE RI EPRAJPU RI EPRAJPJ RI
NETHERLANDS INDEX EPRANLE PI EPRANLU PI EPRANLE RI EPRANLU RI
NORTH AMERICA INDEX EPRANAE PI EPRANAU PI EPRANAG PI EPRANAE RI EPRANAU RI EPRANAG RI
NORWAY INDEX EPRANWE PI EPRANWU PI EPRANWN PI EPRANWE RI EPRANWU RI EPRANWN RI
PORTUGAL INDEX EPRAPRE PI EPRAPRU PI EPRAPRE RI EPRAPRU RI
SINGAPORE INDEX EPRASGE PI EPRASGU PI EPRASGS PI EPRASGE RI EPRASGU RI EPRASGS RI
SPAIN INDEX EPRASPE PI EPRASPU PI EPRASPE RI EPRASPU RI
SWEDEN INDEX EPRASWE PI EPRASWU PI EPRASWS PI EPRASWE RI EPRASWU RI EPRASWS RI
SWITZERLAND INDEX EPRASZE PI EPRASZU PI EPRASZC PI EPRASZE RI EPRASZU RI EPRASZC RI
UK INDEX EPRAUKE PI EPRAUKU PI EPRAUKG PI EPRAUKE RI EPRAUKU RI EPRAUKG RI
US INDEX EPRAUSE PI EPRAUSU PI EPRAUSE RI EPRAUSU RI
ASIA 33 INDEX ENA3-LN
ASIA DIVIDEND+ INDEX ENAD-LN
ASIA INDEX EGAS-LN UGAS-LN
AUSTRALIA INDEX ELAU-LN
EUROPE CAPPED INDEX EORA-LN
EUROPE EURO ZONE CAPPED INDEX EOEU-LN
EUROPE EURO ZONE INDEX EPEU-LN
EUROPE EX UK CAPPED INDEX EOUK-LN
EUROPE EX UK DIVIDEND+ INDEX ENDP-LN
EUROPE EX UK INDEX EXUK-LN
EUROPE INDEX EPRA-LN UPRA-LN
EUROPE NON-REITS INDEX ENEE-LN
EUROPE REITS INDEX EREE-LN
EUROPE UK RESTRICTED INDEX EPHG-LN
GLOBAL DIVIDEND+ INDEX ENGD-LN
GLOBAL EX US INDEX EGXU-LN
GLOBAL INDEX ENGL-LN UNGL-LN
HONG KONG INDEX ELHK-LN
JAPAN INDEX ELJP-LN
NORTH AMERICA INDEX EGNA-LN UGNA-LN
UK INDEX ELUK-LN
US DIVIDEND+ INDEX ENUD-LN
US INDEX UNUS-LN
451
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Version: May 2011
THOMSON GLOBAL TOPIC
Data Vendor Codes - Indices
FTSE EPRA/NAREIT Indices - Data Vendor Codes
* Bold indicates real time calculation
Index EUR USD GBP JPY AUD Local EUR USD GBP JPY AUD Local EUR USD GBP JPY AUD Local
Price Indices Gross Total Return Indices Net Total Return Indices
ASIA 33 INDEX =ENA3.FT
ASIA DIVIDEND+ INDEX =ENAD.FT
ASIA INDEX =EGAS.FT =UGAS.FT
AUSTRALIA INDEX =ELAU.FT
EUROPE CAPPED INDEX =EORA.FT
EUROPE EURO ZONE CAPPED INDEX =EOEU.FT
EUROPE EURO ZONE INDEX =EPAU.FT
EUROPE EX UK CAPPED INDEX =EOUK.FT
EUROPE EX UK DIVIDEND+ INDEX =ENDP.FT
EUROPE EX UK INDEX =EXUK.FT
EUROPE INDEX =EPRA.FT =UPRA.FT
EUROPE NON-REITS INDEX =ENEE.FT
EUROPE REITS INDEX =EREE.FT
EUROPE UK RESTRICTED INDEX =EPHG.FT
GLOBAL DIVIDEND+ INDEX =ENGD.FT
GLOBAL EX US INDEX =EGXU.FT
GLOBAL INDEX =ENGL.FT =UNGL.FT
HONG KONG INDEX =ELHK.FT
JAPAN INDEX =ELJP.FT
NORTH AMERICA INDEX =EGNA.FT =UGNA.FT
UK INDEX =ELUK.FT
US DIVIDEND+ INDEX =ENUD.FT
US INDEX =UNUS.FT
ASIA 33 INDEX 3220369
ASIA DIVIDEND+ INDEX 2677759
ASIA INDEX 1313678 1313682
AUSTRALIA INDEX 1314427
EUROPE CAPPED INDEX 3191123
EUROPE EURO ZONE CAPPED INDEX 3191105
EUROPE EURO ZONE INDEX 1125979
EUROPE EX UK CAPPED INDEX 3191135
EUROPE EX UK DIVIDEND+ INDEX 2289296
EUROPE EX UK INDEX 1148944
EUROPE INDEX 1125954 1148773
EUROPE NON-REITS INDEX 3135083
EUROPE REITS INDEX 3135068
EUROPE UK RESTRICTED INDEX 1181456
GLOBAL DIVIDEND+ INDEX 2677743
GLOBAL EX US INDEX 2337044
GLOBAL INDEX 1313614 1313646
HONG KONG INDEX 1314349
JAPAN INDEX 1314439
NORTH AMERICA INDEX 1313713 1314124
UK INDEX 1126372
US DIVIDEND+ INDEX 2677767
US INDEX 1314322
Constituent Country ISIN Constituent Country ISIN
CA Immobilien Anlage AT AT0000641352 CAI AV CAIV.VI CAI-WBO Eurocommercial Props * NL NL0000288876 ECMPA NA SIPFc.AS ECMPA-AMS
Conwert Immobilien AT AT0000697750 CWI AV CONW.VI CWI-WBO Nieuwe Steen Inv * NL NL0000292324 NISTI NA NSTEc.AS NISTI-AMS
Befimmo * BE BE0003678894 BEFB BB BEFB.BR BEFB-BRU Vastned Offices/Ind * NL NL0000288934 VNOI NA VWNN.AS VNOI-AMS
Cofinimmo * BE BE0003593044 COFB BB COFB.BR COFB-BRU Vastned Retail * NL NL0000288918 VASTN NA VASN.AS VASTN-AMS
Intervest Offices * BE BE0003746600 INTO BB PRIF.BR INTO-BRU Wereldhave * NL NL0000289213 WHA NA WEHA.AS WHA-AMS
Leasinvest Real Estate * BE BE0003770840 LEAS BB LNRE.BR LEAS-BRU Norwegian Property NW NO0010317811 NPRO NO NPRO.OL NPRO-OSL
Wereldhave Belgium * BE BE0003724383 WEHB BB WEHB.BR WEHB-BRU Inmobiliaria Colonial SP ES0139140018 COL SM COL.SM COL-SM
Warehouses De Pauw * BE BE0003763779 WDP BB WDPP.BR WDP-BRU Castellum SE SE0000379190 CAST SS CAST.ST CAST-OME
Allreal CH CH0008837566 ALLN SW ALLN.S ALLN-SWX Hufvudstaden A SE SE0000170375 HUFVA SS HUFVa.ST HUFVA-OME
PSP Swiss Property CH CH0018294154 PSPN SW PSPN.S PSPN-SWX Klovern AB SE SE0000331225 KLOV SS KLOV.ST KLOV-OME
Swiss Prime Site CH CH0008038389 SPSN SW SPSN.S SPSN-SWX Kungsleden SE SE0000549412 KLED SS KLED.ST KLED-OME
Zueblin Immobilien Holding CH CH0021831182 ZUBN SW ZUBN.S ZUBN-SWX Fabege SE SE0000950636 FABG SS FABG.ST FABG-OME
Sponda FI FI0009006829 SDA1V FH SDA1V.HE SDA1V-HEL Wihlborgs Fastigheter SE SE0001413600 WIHL SS WIHL.ST WIHL-OME
Citycon OYJ FI FI0009002471 CTY1S FH CTY1S.HE CTY1S-HEL British Land * UK GB0001367019 BLND LN BLND.L BLND-LON
Technopolis FI FI0009006886 TPS1V FH TPS1V.HE TPS1V-HEL Big Yellow Group * UK GB0002869419 BYG LN BYG.L BYG-LON
Affine * FR FR0000036105 IML FP BTPP.PA IML-PAR CLS Holdings UK GB0001592475 CLI LN CLSH.L CLI-LON
Fonciere Des Regions * FR FR0000064578 FDR FP FDR.PA FDR-PAR Daejan Holdings UK GB0002502036 DJAN LN DJAN.L DJAN-LON
Gecina * FR FR0010040865 GFC FP GFCP.PA GFC-PAR Derwent London * UK GB0002652740 DLN LN DLN.L DLN-LON
Icade * FR FR0000035081 ICAD FP ICAD.PA ICAD-PAR Development Securities UK GB0002668464 DSC LN DSC.L DSC-LON
Klepierre * FR FR0000121964 LI FP LOIM.PA LI-PAR F&C Commercial Prop UK GG00B4ZPCJ00 FCPT LN FCPT.L FCPT-LON
Mercialys * FR FR0010241638 MERY FP MERY.PA MERY-PAR Grainger Plc UK GB00B04V1276 GRI LN GRI.L GRI-LON
Silic * FR FR0000050916 SIL FP SILP.PA SIL-PAR Great Portland Estates * UK GB00B01FLL16 GPOR LN GPOR.L GPOR-LON
Societe de la Tour Eiffel * FR FR0000036816 EIFF FP TEIF.PA EIFF-PAR ING UK Real Estate Income Trust UK GB00B0LCW208 IRET LN IRET.L IRET-LON
Unibail-Rodamco * FR FR0000124711 UL FP UNBP.PA UL-PAR Hammerson * UK GB0004065016 HMSO LN HMSO.L HMSO-LON
Eurobank Properties * GR GRS491003000 EUPRO GA EUPr.AT EUPRO-ATH Hansteen Holdings UK GB00B0PPFY88 HSTN LN HSTN.L HSTN-LON
Lamda Development GR GRS245213004 LAMDA GA LMDr.AT LAMDA-ATH IRP Property Investments UK GB00B012T521 IRP LN IRP.L IRP-LON
Alstria Office * DE DE000A0LD2U1 AOX GR AOXG.F AOX-ETR Invista Foundation Prop UK GB00B01HM147 IFD LN INRE.L IFD-LON
Colonia Real Estate DE DE0006338007 KBU GR KBUG.F KBU-ETR Helical Bar UK GB00B0FYMT95 HLCL LN HLCL.L HLCL-LON
Deutsche Wohnen DE DE000A0HN5C6 DWN GY DWNG.F DWN-ETR Land Securities * UK GB0031809436 LAND LN LAND.L LAND-LON
Deutsche Euroshop DE DE0007480204 DEQ GR DEQGn.DE DEQ-ETR London & Stamford Property UK GB00B4WFW713 LSP LN LSP.L LSP-LON
DIC Asset DE DE0005098404 DAZ GR DAZG.DE DAZ-ETR Capital Shopping Centres Group * UK GB0006834344 CSCG LN CSCG.L CSCG-LON
Gagfah DE LU0269583422 GFJ GR GFJG.DE GFJ-ETR Capital & Counties Properties UK GB00B62G9D36 CAPC LN CAPC.L CAPC-LON
GSW Immobilien AG DE DE000GSW1111 GIB GR GIB.DE GIB-ETR Minerva UK GB0005953681 MNR LN MNR.L MNR-LON
Patrizia Immobilien DE DE000PAT1AG3 P1Z GR P1ZGn.F P1Z-ETR Mucklow <A&J> * UK GB0006091408 MKLW LN MKLW.L MKLW-LON
TAG Immobilien AG DE DE0008303504 TEG GR TEG.F TEG-ETR Primary Health Prop.* UK GB0007015521 PHP LN PHP.L PHP-LON
Beni Stabili IT IT0001389631 BNS IM BNSI.MI BNS-MIL Quintain Estates UK GB0007184442 QED LN QED.L QED-LON
IGD * IT IT0003745889 IGD IM IGD.MI IGD-MIL Safestore Holdings UK GB00B1N7Z094 SAFE LN SAFE.L SAFE-LON
Corio * NL NL0000288967 CORA NA COR.AS CORA-AMS Shaftesbury * UK GB0007990962 SHB LN SHB.L SHB-LON
452
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Version: May 2011
Data Vendor Codes - Index Constituents
Constituent Country ISIN Constituent Country ISIN
Segro * UK GB00B5ZN1N88 SGRO LN SGRO.L SGRO-LON Sino Land HK HK0083000502 83 HK 0083.HK 0083-HKG
St Modwen Properties UK GB0007291015 SMP LN SMP.L SMP-LON Soho China Ltd. HK KYG826001003 410 HK 0410.HK 0410-HKG
Standard Life Inv Prop UK GB0033875286 SLI LN SLI.L SLI-LON Sun Hung Kai Props HK HK0016000132 16 HK 0016.HK 0016-HKG
UK Commercial Property Trust UK GB00B19Z2J52 UKCM LN UKCM.L UKCM-LON Wharf Holdings HK HK0004000045 4 HK 0004.HK 0004-HKG
Unite Group UK GB0006928617 UTG LN UTG.L UTG-LON Aeon Mall Co ltd JP JP3131430005 8905 JP 8905.T 8905-TKS
Workspace Group * UK GB0005296354 WKP LN WKP.L WKP-LON Japan Prime Realty Inv. * JP JP3040890000 8955 JP 8955.T 8955-TKS
Azrieli Group IT IL0011194789 AZRG IT AZRG.IT AZRG-IT Japan Real Estate * JP JP3027680002 8952 JP 8952.T 8952-TKS
Bunnings Warehouse Prop * AU AU000000BWP3 BWP AU BWP.AX BWP-ASX Japan Retail Fund * JP JP3039710003 8953 JP 8953.T 8953-TKS
CFS Retail Property Trust * AU AU000000CFX0 CFX AU CFX.AX CFX-ASX Kenedix Realty Investment * JP JP3046270009 8972 JP 8972.T 8972-TKS
Cmnwealth Prop Office * AU AU000000CPA7 CPA AU CPA.AX CPA-ASX Mitsubishi Estate JP JP3899600005 8802 JP 8802.T 8802-TKS
Dexus Property Group * AU AU000000DXS1 DXS AU DXS.AX DXS-ASX Mitsui Fudosan JP JP3893200000 8801 JP 8801.T 8801-TKS
FKP Property Group * AU AU000000FKP9 FKP AU FKP.AX FKP-ASX Mori Trust Sogo REIT * JP JP3046170001 8961 JP 8961.T 8961-TKS
GPT Group * AU AU000000GPT8 GPT AU GPT.AX GPT-ASX Nippon Building Fund * JP JP3027670003 8951 JP 8951.T 8951-TKS
ING Office Fund * AU AU000000IOF6 IOF AU IOF.AX IOF-ASX Nomura Real Estate Holdings JP JP3762900003 3231 JP 3231.T 3231-TKS
Goodman Group * AU AU000000GMG2 GMG AU GMG.AX GMG-ASX Nomura Real Estate Office Fund * JP JP3045530007 8959 JP 8959.T 8959-TKS
Charter Hall Retail REIT * AU AU000000CQR9 MCW AU MCW.AX MCW-ASX NTT Urban Development JP JP3165690003 8933 JP 8933.T 8933-TKS
Charter Hall Office REIT * AU AU000000CQO6 MOF AU MOF.AX MOF-ASX ORIX JREIT * JP JP3040880001 8954 JP 8954.T 8954-TKS
Mirvac Group * AU AU000000MGR9 MGR AU MGR.AX MGR-ASX Premier Investment Co. * JP JP3041770003 8956 JP 8956.T 8956-TKS
Stockland Trust Group * AU AU000000SGP0 SGP AU SGP.AX SGP-ASX Sumitomo Realty & Dev JP JP3409000001 8830 JP 8830.T 8830-TKS
Westfield Group * AU AU000000WDC7 WDC AU WDC.AX WDC-ASX Tokyo Tatemono JP JP3582600007 8804 JP 8804.T 8804-TKS
Westfield Retail Trust * AU AU000000WRT1 WRT AU WRT.AX WRT-ASX Tokyu Land JP JP3569000007 8815 JP 8815.T 8815-TKS
Agile Property Holdings HK KYG011981035 3383 HK 3383.HK 3383-HKG Tokyu REIT * JP JP3044510000 8957 JP 8957.T 8957-TKS
Champion REIT * HK HK2778034606 2778 HK 2778.HK 2778-HKG Top REIT * JP JP3046370007 8982 JP 8982.T 8982-TKS
China Overseas Land HK HK0688002218 688 HK 0688.HK 0688-HKG United Urban Investment * JP JP3045540006 8960 JP 8960.T 8960-TKS
China Resources Land HK KYG2108Y1052 1109 HK 1109.HK 1109-HKG Kiwi Income Property Trust * NZ NZKIPE0001S5 KIP NZ KIP.NZ KIP-NZE
Country Garden Holdings HK KYG245241032 2007 HK 2007.HK 2007-HKG Allgreen Properties * SG SG1G61871305 AG SP AEMN.SI A16-SES
Hang Lung Properties HK HK0101000591 101 HK 0101.HK 0101-HKG Ascendas REIT * SG SG1M77906915 AREIT SP AREIT.SI A17U-SES
Henderson Land Dev HK HK0012000102 12 HK 0012.HK 0012-HKG CapitaCommercial Trust * SG SG1P32918333 CCT SP CACT.SI C61U-SES
Hopson Development HK BMG4600H1016 754 HK 0754.HK 0754-HKG Capitaland SG SG1J27887962 CAPL SP CATL.SI C31-SES
Hysan Development HK HK0014000126 14 HK 0014.HK 0014-HKG Capitamall Trust * SG SG1M51904654 CT SP CMLT.SI C38U-SES
Kerry Properties HK BMG524401079 683 HK 0683.HK 0683-HKG CapitaMalls Asia SG SG1Z05950543 CMA SP CMAL.SI JS8-SES
KWG Property Holdings HK KYG532241042 1813 HK 1813.HK 1813-HKG CDL Hospitality Trusts SG SG1T66931158 CDREIT SP CDREIT.SI -NA-
Link REIT * HK HK0823032773 823 HK 0823.HK 0823-HKG City Developments SG SG1R89002252 CIT SP CIT.SI C09-SES
New World China Land HK KYG6493A1013 917 HK 0917.HK 0917-HKG Global Logistic Properties SG SG2C26962630 GLP SP GLP.SI -NA-
New World Development HK HK0017000149 17 HK 0017.HK 0017-HKG Hongkong Land Hldgs HK BMG4587L1090 HKL SP HKLD.SI H78-SES
Shenzhen Investment HK HK0604011236 604 HK 0604.HK 0604-HKG Keppel Land SG SG1R31002210 KPLD SP KLAN.SI K17-SES
Shimao Property Holdings HK KYG810431042 813 HK 0813.HK 0813-HKG Mapletree Logistics Trust * SG SG1S03926213 MLT SP MAPL.SI M44U-SES
Shui On Land HK KYG811511131 272 HK 0272.HK 0272-HKG Suntec REIT * SG SG1Q52922370 SUN SP SUNT.SI T82U-SES
453
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Version: May 2011
Data Vendor Codes - Index Constituents
Constituent Country ISIN Constituent Country ISIN
Wing Tai Holdings SG SG1K66001688 WINGT SP WTHS.SI W05-SES Camden Property Trust * US US1331311027 CPT US CPT.N CPT-US
Yanlord Land Group SG SG1T57930854 YLLG SP YNLG.SI Z25-SES Campus Crest Communities * US US13466Y1055 CCG US CCG.N CCG-US
Allied Properties REIT * CA CA0194561027 AP-U CN AP_u.TO AP.UN-TSX CapLease Inc. US US1402881015 LSE US LSE.N LSE-US
Artis Real Estate Investment Trust * CA CA04315L1058 AX-U CN AX_u.TO AX.UN-TSX CBL & Associates Props * US US1248301004 CBL US CBL.N CBL-US
Boardwalk REIT * CA CA0966311064 BEI-U CN BEI_u.TO BEI.UN-TSX Cedar Shopping Centers * US US1506022094 CDR US CDR.N CDR-US
Brookfield Props CA CA1129001055 BPO CN BPO.TO BPO-US Cogdell Spencer US US19238U1079 CSA US CSA.N CSA-US
Calloway REIT * CA CA1312532056 CWT-U CN CWT_u.TO CWT.UN-TSX Colonial Properties * US US1958721060 CLP US CLP.N CLP-US
Canadian Apartment Props * CA CA1349211054 CAR-U CN CAR_u.TO CAR.UN-TSX Corporate Office Props * US US22002T1088 OFC US OFC.N OFC-US
Canadian REIT * CA CA13650J1049 REF-U CN REF_u.TO REF.UN-TSX Cousins Properties * US US2227951066 CUZ US CUZ.N CUZ-US
Chartwell Seniors Housing REIT * CA CA16140U1003 CSH-U CN CSH_u.TO CSH.UN-TSX DCT Industrial Trust * US US2331531051 DCT US DCT.N DCT-US
Cominar REIT * CA CA1999101001 CUF-U CN CUF_u.TO CUF.UN-TSX Developers Diversified * US US2515911038 DDR US DDR.N DDR-US
Crombie Real Estate Investment Trust *CA CA2271071094 CRR-U CN CRR_u.TO CRR.UN-TSX Digital Realty Trust * US US2538681030 DLR US DLR.N DLR-US
Dundee REIT * CA CA2652702077 D-U CN D_u.TO D.UN-TSX Diamondrock Hospitality * US US2527843013 DRH US DRH.N DRH-US
Extendicare Real Estate Investment Trust *CA CA3022511032 EXE-U CN EXE_u.TO EXE.UN-TSX Douglas Emmett * US US25960P1093 DEI US DEI.N DEI-US
First Capital Realty * CA CA31943B1004 FCR CN FCR.TO FCR-TSX Duke Realty Corp * US US2644115055 DRE US DRE.N DRE-US
H & R Real Estate * CA CA4044282032 HR-U CN HR_u.TO HR.UN-TSX DuPont Fabros Technology * US US26613Q1067 DFT US DFT.N DFT-US
Innvest REIT * CA CA45778F1018 INN-U CN INN_u.TO INN.UN-TSX Eastgroup Properties * US US2772761019 EGP US EGP.N EGP-US
Killam Properties * CA CA4941048700 KMP CN KMP.TO KMP-TSX Education Realty Trust * US US28140H1041 EDR US EDR.N EDR-US
Morguard REIT * CA CA6179141065 MRT-U CN MRT_u.TO MRT.UN-TSX Entertainment Props * US US29380T1051 EPR US EPR.N EPR-US
Northern Property REIT * CA CA66562P1053 NPR-U CN NPR_u.TO NPR.UN-TSX Equity Lifestyle Properties * US US29472R1086 ELS US ELS.N ELS-US
Primaris Retail REIT * CA CA74157U1093 PMZ-U CN PMZ_u.TO PMZ.UN-TSX Equity One Inc * US US2947521009 EQY US EQY.N EQY-US
Riocan Real Estate * CA CA7669101031 REI-U CN REI_u.TO REI.UN-TSX Equity Residential Props * US US29476L1070 EQR US EQR.N EQR-US
TransGlobe Apartment REIT * CA CA89367A1075 TGA-U CN TGA_u.TO TGA.UN-TSX Essex Property Trust * US US2971781057 ESS US ESS.N ESS-US
Acadia Realty Trust * US US0042391096 AKR US AKR.N AKR-US Extra Space Storage * US US30225T1025 EXR US EXR.N EXR-US
Agree Realty Corp * US US0084921008 ADC US ADC.N ADC-US Federal Realty Inv * US US3137472060 FRT US FRT.N FRT-US
Alexander's Inc. * US US0147521092 ALX US ALX.N ALX-US Felcor Lodging Trust * US US31430F1012 FCH US FCH.N FCH-US
Alexandria Real Estate * US US0152711091 ARE US ARE.N ARE-US First Industrial Realty * US US32054K1034 FR US FR.N FR-US
AMB Property * US US00163T1097 AMB US AMB.N AMB-US First Potomac Realty Trust * US US33610F1093 FPO US FPO.N FPO-US
American Assets Trust Inc. * US US0240131047 AAT US AAT.N AAT-US Forest City Enterprises US US3455501078 FCE/A US FCEa.N FCE.A-US
American Campus Communities * US US0248351001 ACC US ACC.N ACC-US Franklin Street Properties * US US35471R1068 FSP US FSP.N FSP-US
Apartment Investment * US US03748R1014 AIV US AIV.N AIV-US General Growth Properties * US US3700231034 GGP US GGP.N GGP-US
Ashford Hospitality * US US0441031095 AHT US AHT.N AHT-US Getty Realty * US US3742971092 GTY US GTY.N GTY-US
Associated Estates Realty * US US0456041054 AEC US AEC.N AEC-US Glimcher Realty Trust * US US3793021029 GRT US GTY.N GTY-US
Avalonbay Communities * US US0534841012 AVB US AVB.N AVB-US Government Properties * US US38376A1034 GOV US GOV.N GOV-US
BioMed Realty Trust * US US09063H1077 BMR US BMR.N BMR-US Health Care REIT * US US42217K1060 HCN US HCN.N HCN-US
Boston Properties * US US1011211018 BXP US BXP.N BXP-US Healthcare Realty Trust * US US4219461047 HR US HR.N HR-US
Brandywine Realty Trust * US US1053682035 BDN US BDN.N BDN-US Hersha Hospitality Trust * US US4278251040 HT US HT.N HT-US
BRE Properties * US US05564E1064 BRE US BRE.N BRE-US Highwoods Properties * US US4312841087 HIW US HIW.N HIW-US
454
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Version: May 2011
Data Vendor Codes - Index Constituents
Constituent Country ISIN Constituent Country ISIN
Home Props of New York * US US4373061039 HME US HME.N HME-US Sun Communities * US US8666741041 SUI US SUI.N SUI-US
Hospitality Properties * US US44106M1027 HPT US HPT.N HPT-US Sunstone Hotel Investors * US US8678921011 SHO US SHO.N SHO-US
Host Hotels & Resorts * US US44107P1049 HST US HST.N HST-US Tanger Factory Outlet * US US8754651060 SKT US SKT.N SKT-US
Commonwealth REIT * US US2032331017 CWH US CWH.N CWH-US Taubman Centers * US US8766641034 TCO US TCO.N TCO-US
Inland Real Estate Corp * US US4574612002 IRC US IRC.N IRC-US The Macerich Company * US US5543821012 MAC US MAC.N MAC-US
Investors Real Estate * US US4617301035 IRET US IRET.OQ IRET-US UDR Inc. * US US9026531049 UDR US UDR.N UDR-US
Kilroy Realty * US US49427F1084 KRC US KRC.N KRC-US Universal Health Realty * US US91359E1055 UHT US UHT.N UHT-US
Kimco Realty * US US49446R1095 KIM US KIM.N KIM-US Urstadt Biddle Class A * US US9172862057 UBA US UBA.N UBA-US
Kite Realty Group Trust * US US49803T1025 KRG US KRG.N KRG-US U-Store-It Trust * US US91274F1049 YSI US YSI.N YSI-US
LaSalle Hotel Properties * US US5179421087 LHO US LHO.N LHO-US Ventas * US US92276F1003 VTR US VTR.N VTR-US
Lexington Corporate * US US5290431015 LXP US LXP.N LXP-US Vornado Realty Trust * US US9290421091 VNO US VNO.N VNO-US
Liberty Property Trust * US US5311721048 LRY US LRY.N LRY-US Washington Real Estate * US US9396531017 WRE US WRE.N WRE-US
LTC Properties * US US5021751020 LTC US LTC.N LTC-US Weingarten Realty * US US9487411038 WRI US WRI.N WRI-US
Mack-Cali Realty * US US5544891048 CLI US CLI.N CLI-US Winthrop Realty Trust * US US9763913004 FUR US FUR.N FUR-US
Medical Properties Trust * US US58463J3041 MPW US MPW.N MPW-US Aliansce Shopping Centers SA BRAZ BRALSCACNOR0 ALSC3 BZ ALSC3.SA ALSC3.BSP
Mid-America Apartment * US US59522J1034 MAA US MAA.N MAA-US Gafisa BRAZ BRGFSAACNOR3 GFSA3 BZ GFSA3.SA GFSA3.BSP
National Health Investors * US US63633D1046 NHI US NHI.UN NHI-US Brookfield Incorporacoes SA BRAZ BRBISAACNOR8 BISA3 BZ BISA3.SA BISA3-BSP
National Retail Properties * US US6374171063 NNN US NNN.N NNN-US BR Malls Participacoes S/A Ord BRAZ BRBRMLACNOR9 BRML3 BZ BRML3.SA BRML3-BSP
Nationwide Health Props * US US6386201049 NHP US NHP.N NHP-US BR Properties S/A Ord BRAZ BRBRPRACNOR9 BRPR3 BZ BRPR3.SA BRPR3-BSP
Omega Healthcare Investors * US US6819361006 OHI US OHI.N OHI-US PDG Realty S/A Empreendimentos e Participacoes OrdBRAZ BRPDGRACNOR8 PDGR3 BZ PDGR3.SA PDGR3-BSP
Orient Express Hotel US BMG677431071 OEH US OEH.N OEH-US Camargo Correa Desenvolvimento Imobiliario S/A OrdBRAZ BRCCIMACNOR5 CCIM3 BZ CCIM3.SA CCIM3-BSP
Parkway Properties * US US70159Q1040 PKY US PKY.N PKY-US General Shopping Brasil BRAZ BRGSHPACNOR7 GSHP3 BZ GSHP3.SA GSHP3-BSP
Pennsylvania Real Estate * US US7091021078 PEI US PEI.N PEI-US Rodobens Negocios Imobiliarios S/A OrdBRAZ BRRDNIACNOR9 RDNI3 BZ RDNI3.SA RDNI3-BSP
Piedmont Office Realty Trust Cl A US US7201902068 PDM US PDM.N PDM-US Helbor Empreendimentos S.A. BRAZ BRHBORACNOR3 HBOR3 BZ HBOR3.SA HBOR3-BSP
Post Properties * US US7374641071 PPS US PPS.N PPS-US Iguatemi Empresa de Shopping Centers S/A OrdBRAZ BRIGTAACNOR5 IGTA3 BZ IGTA3.SA IGTA3-BSP
Prologis * US US7434101025 PLD US PLD.N PLD-US Inpar SA BRAZ BRVIVRACNOR4 INPR3 BZ INPR3.SA INPR3-BSP
PS Business Parks * US US69360J1079 PSB US PSB.A PSB-US JHSF Participacoes SA BRAZ BRJHSFACNOR2 JHSF3 BZ JHSF3.SA JHSF3-BSP
Public Storage * US US74460D1090 PSA US PSA.N PSA-US MRV Engenharia e Participacoes SA BRAZ BRMRVEACNOR2 MRVE3 BZ MRVE3.SA MRVE3-BSP
Ramco-Gershenson * US US7514522025 RPT US RPT.N RPT-US Multiplan Empreendimentos Imobiliaros S/A OrdBRAZ BRMULTACNOR5 MULT3 BZ MULT3.SA MULT3-BSP
Realty Income * US US7561091049 O US O.N O-US Tecnisa S.A. BRAZ BRTCSAACNOR3 TCSA3 BZ TCSA3.SA TCSA3-BSP
Regency Centers * US US7588491032 REG US REG.N REG-US Cyrela Brazil Realty S/A Empreendimentose e Participacoes OrBRAZ BRCYREACNOR7 CYRE3 BZ CYRE3.SA CYRE3-BSP
Retail Opportunity Investments Corp. * US US76131N1019 ROIC US ROIC.N ROIC-US Parauco Arauco CHL CLP763281068 PARAUCO CI CYRE3.SA CYRE3-BSP
Saul Centers * US US8043951016 BFS US BFS.N BFS-US Guangzhou R&F Properties (H) CHN CNE100000569 2777 HK 2777.HK -NA-
Senior Housing Prop * US US81721M1099 SNH US SNH.N SNH-US Shanghai Lujiazui Fin & Trade Dev (B)CHN CNE000000HH6 900932 CH 600663.SS -NA-
Simon Property Group * US US8288061091 SPG US SPG.N SPG-US China Merchants Prop (B) CHN CNE000000891 200024 CH 000024.SZ -NA-
SL Green Realty * US US78440X1019 SLG US SLG.N SLG-US Beijing North Star (H) CHN CNE100000262 588 HK 601588.SS -NA-
Sovran Self Storage * US US84610H1086 SSS US SSS.N SSS-US Poly (Hong Kong) Investments (Red Chip)CHN HK0119000674 119 HK 600119.SS -NA-
Strategic Hotels & Resorts US US86272T1060 BEE US BEE.N BEE-US Shenzhen Vanke (B) CHN CNE0000008Q1 200002 CH 000002.SZ -NA-
455
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Version: May 2011
Data Vendor Codes - Index Constituents
Constituent Country ISIN Constituent Country ISIN
Yuexiu Property (Red Chip) CHN HK0123000694 123 HK 600123.SZ -NA- Sare Holding S.A. de C.V. MEX MX01SA030007 SAREB MM SAREB.MX -NA-
Six Of October Development & InvestmentEGY EGS65851C015 OCDI EY OCDI.CA -NA- Urbi Desarrollos Urbanos MEX MX01UR000007 URBI* MM URBI.MX -NA-
Anant RAJ Industries IDA INE242C01024 ARCP IN ARCP.BO -NA- Desarrolladora Homex SA de CV MEX MX01HO000007 HOMEX* MM HOMEX.MX -NA-
Brigade Enterprises IDA INE791I01019 BRGD IN BRGD.BO -NA- Vista Land & Lifescapes PHIL PHY9382G1068 VLL PM VLL.PS -NA-
Parsvnath Developers IDA INE561H01026 PARSV IN PARV.BO 532780-BOM Filinvest Land PHIL PHY249161019 FLI PM FLI.PS -NA-
DLF IDA INE271C01023 DLFU IN DLF.BO 532868-BOM Megaworld Corporation PHIL PHY594811127 MEG PM MEG.PS -NA-
IVRCL Assets & Holdings IDA INE414I01018 IVR IN IVR.BO 532881-BOM SM Prime Hldgs PHIL PHY8076N1120 SMPH PM SMPH.PS -NA-
Mahindra Lifespace Developers Ltd. IDA INE813A01018 MLIFE IN MLIFE.BO -NA- Ayala Land PHIL PHY0488F1004 ALI PM ALI.PS -NA-
MVL Ltd. IDA INE744I01034 MVLL IN MVLL.BO -NA- Robinson`s Land Corporation PHIL PHY731961264 RLC PM RLC.PS -NA-
Sunteck Realty Ltd. IDA INE805D01026 SRIN IN SRIN.BO -NA- LC Corp SA POL PLLCCRP00017 LCC PW LCCA.WA -NA-
Orbit Corporation IDA INE628H01015 ORB IN ORB.BO -NA- Globe Trade Centre POL PLGTC0000037 GTC PW GTCA.WA GTC-WAR
Prestige Estates Projects Ltd IDA INE811K01011 PEPL IN PEPL.BO -NA- Fountainhead Property Trust * SAF ZAE000097416 FPT SJ FPTJ.J -NA-
Unitech IDA INE694A01020 UT IN UNTE.BO 507878-BOM SA Corporate Real Estate Fund * SAF ZAE000083614 SAC SJ SACJ.J -NA-
Ansal Properties & Infrastructure IDA INE436A01026 APIL IN ANSP.BO 500013-BOM Redefine Income Find SAF ZAE000143178 RDF SJ RDFJ.J -NA-
Peninsula Land IDA INE138A01028 PENL IN PENL.BO 503031-BOM Resilient Prop Inc Fd SAF ZAE000043642 RES SJ RESJ.J -NA-
Alam Sutera Realty INDO ID1000108400 ASRI IJ ASRI.JK -NA- Growthpoint Prop Ltd SAF ZAE000037669 GRT SJ GRTJ.J -NA-
Ciputra Develop INDO ID1000115306 CTRA IJ CTRA.JK -NA- Emira Property Fund * SAF ZAE000050712 EMI SJ EMIJ.J -NA-
Ciputra Property INDO ID1000107907 CTRP IJ CTRP.JK -NA- Central Pattana THAI TH0481A10Z01 CPN TB CPN.BK -NA-
Ciputra Surya INDO ID1000101900 CTRS IJ CTRS.JK -NA- Land & Houses THAI TH0143010Z08 LH TB LH.BK -NA-
Bakrieland Devel INDO ID1000088701 ELTY IJ ELTY.JK -NA- LPN Development THAI TH0456010Z04 LPN TB LPN.BK -NA-
Lippo Karawaci INDO ID1000108905 LPKR IJ LPKR.JK -NA- Asian Property Development THAI TH0308010Z07 AP TB AP.BK -NA-
Pakuwon Jati INDO ID1000107204 PWON IJ PWON.JK -NA- Amata Corp THAI TH0617A10Z08 AMATA TB AMAT.BK -NA-
Sentul City INDO ID1000104201 BKSL IJ BKSL.JK -NA- Preuksa Real Estate THAI TH0878010Y00 PS TB -NA- -NA-
Summarecon INDO ID1000092406 SMRA IJ SMRA.JK -NA- Property Perfect THAI TH0352A10Z07 PF TB -NA- -NA-
Capitamalls Malaysia Trust MAL MYL5180TO003 CMMT MK CMMT.JK -NA- SC Asset THAI TH0747010Z06 SC TB -NA- -NA-
Eastern & Orient MAL MYL3417OO002 EAST MK EAST.JK -NA- Supalai PCL THAI TH0371010Z05 SPALI TB SPAL.BK -NA-
IGB MAL MYL1597OO003 IGB MK IGBS.KL -NA- Akmerkez Gayrimenkul Yatirim TUR TREAKMG00018 AKMGY TI AKMGY.IS -NA-
IJM Land Bhd MAL MYL5215OO008 IJMLD MK IJMLD.KL -NA- Alarko G.Yat.Ort TUR TRAALGYO91Q5 ALGYO TI ALGYO.IS -NA-
Glomac Bhd MAL MYL5020OO002 GLMC MK GLMC.KL -NA- Dogus GE Gayrimenkul Yatirim OrtakligiTUR TRAOSGYO91Q1 DGGYO TI DGGYO.IS -NA-
Land And General MAL MYL3174OO009 LGH MK LGH.KL -NA- Is Gayrimenkul Yatirim Ortak * TUR TRAISGYO91Q3 ISGYO TI YKGYO.IS -NA-
LBS Bina Group BHD MAL MYL5789OO002 LBS MK LBS.KL -NA- Sinpas Gayrimenkul Yatirim Ortakligi TUR TRESNGY00019 SNGYO TI SNGYO.IS -NA-
YNH Property MAL MYL3158OO002 YNHB MK YNHB.KL -NA- Torunlar Gayrimenkul Yatirim OrtakligiTUR TRETRGY00018 TRGYO TI TRGYO.IS -NA-
SP Setia MAL MYL8664OO004 SPSB MK SPSB.KL -NA- Hung Poo Real Estate Development TWN TW0002536000 2536 TT 2536.TW -NA-
Sunway City Bhd MAL MYL6289OO002 SCITY MK SCITY.KL -NA- Aldar Properties PJSC UAE AEA002001013 ALDAR UH ALDAR.UH -NA-
Tebrau Teguh Bhd MAL MYL1589OO000 TEB MK SETI.KL -NA- Emaar Properties UAE AEE000301011 EMAAR UH EMAAR.UH -NA-
KLCC Property Holdings MAL MYL5089OO007 KLCC MK KCCP.KL -NA- Mirland Development Corp AIM CY0100141015 MLD LN MLD.L -NA-
Consorcio Ara MEX MXP001161019 ARA* MM ARA.MX -NA- Carpathian AIM GB00B0B66533 CPT LN CPTA.L CPT-LON
Geo B MEX MXP3142C1177 GEOB MM GEOB.MX -NA- Conygar Investment Company AIM GB0033698720 CIC LN CIC.L CPT-LON
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Version: May 2011
Data Vendor Codes - Index Constituents
Constituent Country ISIN
Treveria AIM GB00B0RFL714 TRV LN DTR.L DTR-LON
Ablon Group AIM GG00B1LB2139 ABL LN ABL.L ABL-LON
Sirius Real Estate AIM GG00B1W3VF54 SRE LN DDS.L SRE-LON
LXB Retail Properties AIM JE00B4MFKH73 LXB LN LXB.L SRE-LON
O Twelve Estates AIM GB00B0XPT375 OTE LN OTE.L SRE-LON
Public Service Properties Inv. AIM GG00B1Z5TP41 PSPI LN PSPI.L -NA-
Rugby Estates AIM GB0007601551 RUGB LN RUGB.L -NA-
Lok'N Store Group AIM GB0007601553 LOK LN LOK.L -NA-
Max Property Group AIM GB0007601554 MAX LN MAX.L -NA-
Dolphin Capital Investors AIM VGG2803G1028 DCI LN DOLC.L -NA-
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Version: May 2011
Data Vendor Codes - Index Constituents
EPRA FTSE
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Contacts
EPRA DISCLAIMER
EPRA® does not intend this presentation to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice.
Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or
investment strategies discussed in this presentation. Nothing herein should be construed to be an endorsement by EPRA of any specific company or
products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. EPRA
expressly disclaims any liability for the accuracy, timeliness or completeness of data in this presentation. Unless otherwise indicated, all data are
derived from, and apply only to, publicly traded securities. Any investment returns or performance data (past, hypothetical, or otherwise) are not necessarily
indicative of future returns or performance.
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NAREIT® does not intend this presentation to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice.
Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or
investment strategies discussed in this presentation. Nothing herein should be construed to be an endorsement by NAREIT of any specific company or
products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. NAREIT
expressly disclaims any liability for the accuracy, timeliness or completeness of data in this presentation. Unless otherwise indicated, all data are
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indicative of future returns or performance.
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