Global property fund manager CB Richard Ellis Investors is launching CBRE Global Real Estate Securities, its first fund management division focusing on global securities, investment and management services.
Jeremy Anagnos, co-chief investment officer of the global securities team, said: “The reason for the move is to take advantage of the growing interest from Europe, the US and Asia for stable, income-producing property assets.”
“Roughly half the stocks in the EPRA/NAREIT Property Securities Index are US-based. However, over the next few years it is very likely that legislation creating tax- efficient, public real estate investment structures, such as US REITs, will be developed throughout Europe and Asia, affecting public real estate securities markets across almost 80% of the world’s economy.”
The 29-strong global securities team will include specialists in real estate securities, research and investment from North America, Europe and the Asia-Pacific region.
Anagnos was formerly head of European real estate equity research at Deutsche Bank in London. CBRE Investors has more than $15bn in assets under management.
Meanwhile, global market index provider FTSE Group (FTSE ) has taken over the job of calculating specialist real estate indices for institutional investors, in the form of the EPRA/NAREIT Global Real Estate Indices, which will be renamed the FTSE EPRA/NAREIT Global Real Estate Index Series.
The indices track the performance of listed property companies and REITs around the world, providing a performance measure of the overall market. They also form the basis for investment products such as derivatives and Exchange Traded Funds.
EPRA, the European Public Real Estate Association, represents the European public property sector, while NAREIT – the National Association of Real Estate Investment Trusts– represents REITs and publicly traded property companies worldwide.
