S&P proffers Asia property

Index provider Standard & Poor’s has launched the S&P Asia Property 40 Index which offers exposure to listed companies in the Asian property and real estate markets. The index is designed to underlie investment instruments such as structured products and ETFs.

The index comprises 40 listed Asian property companies with no single market having more than 15 stocks in the index or representing more than 40% of the index. The top 10 index constituents include Mitsubishi Estate, Swire Pacific, Sun Hung Kai Properties, Mitsui Fudosan, Cheung Kong, CapitaLand, Country Garden Holdings, Sumitomo Realty & Development, Guangzhou R&F Properties and Hang Lung Properties.

Stocks must have total market capitalisation above US$1 billion and a three-month average daily