The FTSE Group has added the Macau Property Opportunities Fund (MPO), managed by Sniper Capital, to the FTSE All-Share and FTSE SmallCap indices following the FTSE UK Index Series Annual Review.
MPO’s addition to the indices is effective immediately.
The inclusion comes in the wake of continued strong growth for MPO, with adjusted NAV per share increasing 5.9 per cent in the three months to 31 March 2014, driven by sustained buoyancy in Macau's property market. MPO's property portfolio also made significant gains quarter-on-quarter, experiencing a 6.7 per cent increase through the same period, with the portfolio now valued at USD517m. In the year to date, MPO’s share price has increased over 16 per cent.
David Hinde, chairman of MPO, says: “This is yet another milestone in the company’s history and an important step towards increasing our exposure to a wider pool of investors.”