The Tel Aviv Stock Exchange (TASE) announced a new equity index, the TA-Real Estate 35 index focused on Israel’s major real estate companies, will debut on Nov. 9.
The index is restricted to the 35 largest real estate shares by market capitalization, selected from the 89 real estate shares currently constituting the TA-Real Estate index. According to the TASE, the new index is expected to include the shares of roughly 40% of the number of real estate companies in the established TA-Real Estate index, accounting for close to 80% of the total market capitalization of the shares in that index.
The real estate sector currently accounts for 18% of TASE’s total market capitalization.
“The real estate sector is a cornerstone of the Israeli economy and plays a pivotal role in the local capital market,” said Yaniv Pagot, executive vice president and head of trading at TASE. “The introduction of the TA-Real Estate-35 index will offer investors targeted access to the sector’s top-performing firms, augmenting our range of premier investment and comparison tools, for the benefit of both institutional and retail investors. The introduction of new indices is part of TASE’s strategic plan to increase the variety of new products, thereby enabling tracking product providers to offer the public a wider and higher-quality range of passive investment products.”
