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Prime US Reit included in MSCI Singapore Small Cap Index
PRIME US Reit announced after trading hours on Monday that it has been included in the MSCI Singapore Small Cap Index, as at the close of market trading on Nov 26.
The MSCI Singapore Small Cap Index is designed to measure the performance of the small-cap segment of the Singapore market. With 51 constituents as at Oct 31 this year, the index represents approximately 14 per cent of the free float-adjusted market capitalisation of Singapore equities.
Barbara Cambon, CEO and chief investment officer of the manager of Prime US Reit, said the inclusion into the MSCI Index is an "important milestone" since listing in July.
"We believe that an in-depth understanding of our business, operating landscape and quality of our assets among the investment community will help diversify our unitholder base and enhance trading liquidity," she said.
"This allows us to maximise value-creation for our unitholders in the long run," Ms Cambon added.
Prime US Reit focuses on stabilised income-producing office assets in the US, with a portfolio of 11 freehold office properties and a total appraised value of US$1.2 billion.