Business
Fprop retains No.1 ranking in MSCI CEE Benchmark
Fprop retains No.1 ranking in MSCI CEE Benchmark.
About this update from First Property Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 3210M\n First Property Group PLC\n 11 May 2020\n \n \n \n \n \n \n \n Date:\n \n \n \n \n 11 May 2020\n \n \n \n \n \n \n On behalf of:\n \n \n \n \n First Property Group plc (\"First Property\", \"the Company\" or the \"Group\")\n \n \n \n \n \n \n Embargoed:\n \n \n \n \n 0700hrs\n \n \n \n \n \n \n \n \n First Property Group plc \n \n \n Fprop retains its No.1 ranking in MSCI CEE Benchmark \n \n \n \n \n \n First Property Group plc (AIM: FPO), the property fund manager and investor, is pleased to announce that it has retained its position as the best performing fund manager versus MSCI's Central and Eastern European (CEE) Benchmark, now for the fourteen years to 31 December 2019. \n \n \n \n \n \n Rental income was the main driver which contributed to the result. The Group consistently\n \n generated the highest income return versus the Benchmark over three, five, seven, ten and fourteen years since the commencement of its operations in Poland in 2005. \n \n \n \n \n \n MSCI is a leading provider of research-based indexes and analytics. Performance is determined strictly in accordance with MSCI's globally defined data standards and performance measurement procedures, and is based upon independently verified direct real estate investment performance.\n \n \n \n \n \n Commenting on the result, Ben Habib, Chief Executive of First Property Group, said:\n \n \n \n \n \n \"Ranking as the best performing fund manager over 14 years in MSCI's Central and Eastern European Benchmark is further evidence that our policy of investing in sustainably higher yielding commercial property delivers consistently higher returns over the long term. \n \n \n \n \n \n \"With Group cash of £25 million and markets weakening again we expect to be making a number of new investments alongside our clients over the next couple of years.\"\n \n \n \n \n \n First Property Group announced last week the sale of their controlling share in the CH8 tower in Warsaw, on 27 April, and the signing of a new long-term let at a warehouse it owns in Tureni, Romania on 29 April. \n \n \n \n \n \n -Ends- \n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n \n \n \n First Property Group plc \n \n \n \n \n Tel: +44 (20) 7340 0270\n \n \n \n \n \n \n ...