When the British real estate funds Canary Wharf and Chelsfield leave the index, the share of Dutch real estate funds in the Epra Index will rise from 14.7 to 16.4%. The Netherlands will remain the largest country after the United Kingdom on the index. The British share will decrease from 49.4 to 44.2%.
This can be concluded from calculations by PropertyNL following the new weighing of the largest countries in the Epra Index. Canary Wharf and Chelsfield are in place 8 and 18 in the most recent (31/07/2003) top 20 of the most important real estate companies in the Epra (Europe) Index, one of the most authoritative real estate indices in Europe. Both companies are at the verge of leaving the index. Canary Wharf Group (market value Ã¢âÂ¬ 2.1 bln.) recently received an offer to be taken over by Morgan Stanley Real Estate Fund and at Chelsfield (market value Ã¢âÂ¬ 1.3 bln.) the present management is considering a management buy out to take over the company.
If these two large funds leave the Epra Index, the British share in the index will drop from 49.4 to 44.2 %, the Netherlands will rise from 14.7 to 16.4%, France from 12.7 to 14.0%, Sweden from 7.6 to 8.4% and Switzerland from 3.5 to 3.8%.