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ALPS and Cohen & Steers Launch Global Real Estate ETF
May 12, 2008
SAN DIEGO - (ETFguide.com) – On Friday,
ALPS Holdings, Inc. and Cohen & Steers today announced the launch of the Cohen & Steers Global Real Estate Majors ETF (Ticker: GRI). The ETF is advised by ALPS Advisers, Inc. The index is provided by Cohen & Steers.
The index consists of the largest and most liquid securities within the global real estate universe that the Index Provider believes are likely to lead the global securitization of real estate.
The methodology utilized by Cohen & Steers evaluates companies using quantitative and qualitative screens to target the most liquid global real estate companies. Companies that meet Cohen & Steers’ quantitative requirements are then assessed for their qualitative strengths.
The index characteristics include the following: evaluating each company’s management strength and track record, market position, governance and corporate structure, and the composition and quality of its real estate portfolio; and consideration of each country’s percentage of global GDP and share of the world’s public versus private real estate.
Fund Snapshot:
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Name:
Cohen & Steers Global Real Estate Majors
Ticker:
GRI
Expense Ratio:
0.55%
Fund Category Average:
0.54%
Index Strategy Box Average:
0.54%
Holdings:
75
Security Selection:
Companies are evaluated using quantitative and qualitative screens to target the most liquid global real estate companies. Companies that meet Cohen & Steers’ quantitative requirements are then assessed for their qualitative strengths.
Security Weighting:
The Index is free float and modified market-capitalization weighted, with a limit of 3.5% on any security’s weighting.
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Although
ALPS is not new to the ETF marketplace, this is the first ETF with the
ALPS nametag. In case you are wondering, who is
ALPS? ALPS Holdings, Inc. is a provider of outsourced and advisory solutions to the investment management industry. Based in
Denver,
CO,
ALPS offers advisory, administration, compliance, creative services, fund accounting, legal, marketing, tax administration, transfer agency and shareholder services for open-end, closed-end, hedge and exchange-traded funds.
ALPS has approximately $18 billion in client mutual fund assets under administration. ALPS Distributors, Inc. provides distribution services to over $240 billion in client assets.
Cohen & Steers is also the index provider for the iShares Cohen & Steers Realty Majors ETF (Ticker: ICF).
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