NEW YORK, May 6, 2011 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) announced today a pending change to its Global Realty Majors Portfolio Index (GRM) effective at the close of business on May 20, 2011.
Component change: | Deletion and Replacement | |
Index Name: | Cohen & Steers Global Realty Majors Portfolio Index | |
Index Symbol: | GRM | |
Calculation method: | Free-Float Adjusted Modified Market Capitalization Weighted Index | |
Deleted component symbol: | COFB BB | |
Deleted component name: | Cofinimmo | |
Replacement component symbol: | GMG AU | |
Replacement component name: | Goodman Group | |
The Cohen & Steers Index Committee modified the index weighting methodology for Canadian companies. Previously, the free-float of Canadian companies was adjusted to 49% of outstanding shares reflecting certain foreign REIT ownership regulations in Canada. The Committee determined to no longer implement this adjustment to ensure consistent treatment of ownership limits on a global basis.
The Global Realty Majors Portfolio Index is a free-float adjusted, modified market-cap-weighted total return index of selected real estate equity securities. It is quoted intraday on a real-time basis by the Chicago Mercantile Exchange under the symbol GRM. The index's free-float market capitalization approach and qualitative screening process emphasize companies that the Cohen & Steers Index Committee believes are leading the securitization of real estate globally.
GRM can be used as an indexing benchmark, stock selection universe, underlying index for derivative instruments or performance benchmark. All index weightings are independently calculated by Standard & Poor's.
SOURCE CNS; GRM
