FinEx launches first REIT ETF on Moscow Exchange

Nov 23rd, 2021 | By | Category: Alternatives / Multi-Asset

Anglo-Russian issuer FinEx has launched a new ETF on Moscow Exchange (MOEX) providing broad exposure to real estate investment trusts (REITs) listed in the US.

FinEx launches first REIT ETF on Moscow Exchange

The fund is the first ETF listed on MOEX to provide targeted exposure to US real estate investment trusts.

The FinEx US REIT UCITS ETF (FXRE RM) is the first ETF listed on MOEX to offer targeted access to REITs.

The fund gains its exposure by tracking the Solactive GPR United States REIT ex Timber and Mortgage Index using direct, physical replication.

The index begins with an initial universe of all US-listed REITs with average daily trading volumes greater than $1 million.

Timber REITs and Mortgage REITs – REITs that derive more than 60% of their recurrent income from activities in timber or mortgage – are excluded.

The remaining constituents are weighted by float-adjusted market capitalization, and the index is reconstituted and rebalanced on a quarterly basis.

The index currently contains 131 constituents. Notable positions include American Tower REIT (8.2%), Prologis REIT (7.7%), Crown Castle International REIT (5.6%), Simon Property REIT (3.8%), and Public Storage REIT (3.5%). (Data as of 19 November).

The ETF comes with an expense ratio of 0.60%. Income is accumulated within the portfolio.

FinEx has brought to market several novel ETFs on MOEX this year including the exchange’s first fallen angels bond ETF, the first US TIPS ETF, and first thematic equity ETF.

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