New Barra Model Incorporates IPD Global Data
Set
MSCI Inc. (NYSE:MSCI), a leading provider of investment decision
support tools worldwide, today announced the launch of the new
Barra Private Real Estate Model (PRE2), the industry’s first global
private real estate multi-factor risk model.
“Until now it has not been possible to measure and compare the
risks of global real estate with other asset classes,” said
Roveen Bhansali, Managing Director and Head of Risk Management
Analytics for MSCI. “This new private real estate model
represents a major step forward by expanding coverage to 31
countries and putting it in a global, multi-asset class
context.”
The Barra PRE2 model incorporates global private real estate
data from IPD, a leading provider of real estate performance and
risk analysis, acquired by MSCI just over a year ago. PRE2 provides
clients with the most extensive coverage of private real estate
risk available in the market to date. It also provides a consistent
methodology for modeling global private real estate and seamless
integration with MSCI’s premier multi-asset class fundamental
factor model, the Barra Integrated Model (BIM), which includes both
public and private real estate.
The IPD dataset also allows managers to overcome the challenge
of using public equity to represent private real estate. It shows
that public equity markets and private real estate are not always
correlated. For example, the relationships between New York real
estate and financial stocks, Houston real estate and energy stocks
or San Francisco real estate and technology stocks all have very
low statistical significance.
Peter Hobbs, Managing Director of Research for IPD, added, “This
development provides fund managers unprecedented insight into
global real estate risks. The new Barra PRE2 model reflects the
changes in private real estate risk forecasts in a more timely
fashion than traditional methods.”
About MSCI
MSCI Inc. is a leading provider of investment decision support
tools to investors globally, including asset managers, banks, hedge
funds and pension funds. MSCI products and services include
indices, portfolio risk and performance analytics, and governance
tools.
The company’s flagship product offerings are: the MSCI indices
with approximately USD 7.5 trillion estimated to be benchmarked to
them on a worldwide basis1; Barra multi-asset class factor models,
portfolio risk and performance analytics; RiskMetrics multi-asset
class market and credit risk analytics; IPD real estate
information, indices and analytics; MSCI ESG (environmental, social
and governance) Research screening, analysis and ratings; ISS
corporate governance research, data and outsourced proxy voting and
reporting services; and FEA valuation models and risk management
software for the energy and commodities markets. MSCI is
headquartered in New York, with research and commercial offices
around the world.
1As of March 31, 2013, as reported on July 31, 2013 by
eVestment, Lipper and Bloomberg
For further information on MSCI, please visit our web site
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Media Enquiries:MSCI, New YorkKristin Meza, +
1-212-804-5330orMSCI, LondonJo Morgan, + 44.20.7618.2224orMHP
Communications, LondonNick Denton | Christian Pickel+
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free)/+ 1-212-804-3901orAsia Pacific Client Service, +
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