The EDHEC IEIF Monthly Commercial Property Index (France) is based on SCPIs as the index underlying. SCPIs are non-listed French real estate funds, which are mostly closed-ended. Only funds with a minimum transaction volume of €2.0 million per year are included in the index portfolio. The index values are defined as the return of a portfolio that invests in all SCPIs which fulfil the liquidity requirement, using relative market capitalisations as portfolio weights.
Given that SCPIs are mainly invested into commercial properties, the EDHEC IEIF Monthly Commercial Property Index (France) can be seen as a proxy for this market segment and therefore carries the segment’s name.
The index is available on a monthly basis starting January 2015. Historical index values are available on a semi-annual basis starting December 1988 and on an annual basis starting 1980.
The price index corresponds to the capital appreciation of the underlying funds without considering the reinvestment of dividend payments.
|Risk Profile||Total Return Index (France)||CAC 40||CGBI France|
|Min. Monthly Return||-3.71%||-13.50%||-2.84%|
|Max. Monthly Return||4.50%||13.34%||4.41%|
|Mean Monthly Return||0.51%||0.58%||0.42%|
|Median Monthly Return||0.39%||0.62%||0.55%|
|% of Winning Month||68.9%||54.9%||67.2%|
|Average Winning Return||1.1%||4.1%||1.2%|
|% of Losing Month||31.1%||45.1%||32.8%|
|Average Losing Return||-0.8%||-3.7%||-1.1%|
|Correlation Analysis||Total Return Index (France)||CAC 40||CGBI France|
|CGBI Bond Index France||0.00||-0.17||1.00|
|Consumer prices France||-0.02||0.02||-0.18|
|SCPI||Capitalisation (EUR m)||Weight|
|ACCES VALEUR PIERRE||1,274.18||2.98%|
|ATLANTIQUE MUR REGIONS||639.38||1.50%|
|ATOUT PIERRE DIVERSIFICATION||500.76||1.17%|
|CREDIT MUTUEL PIERRE 1||1,176.43||2.76%|
|FONCIA PIERRE RENDEMENT||401.63||0.94%|
|LF OPPORTUNITE IMMO||166.72||0.39%|
|PARTICIPATION FONCIERE OPPORTUNITE||591.98||1.39%|
|PF GRAND PARIS||574.25||1.35%|
|RIVOLI AVENIR PATRIMOINE||2,436.27||5.71%|
|Hedge Fund Strategies : September 2018|
|Equity Market Neutral||-0.16%|
|Fixed Income Arbitrage||0.36%|
|Funds of Funds||-0.22%|
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