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FlexShares Global Quality Real Estate Index Fund

FlexShares Global Quality Real Estate Index Fund attempts to provide investors with a quality equity portfolio that provides exposure to the inflation-hedging qualities and long-term capital growth potential of global real estate. Many real estate equity strategies have a focus on value, but may omit an evaluation of a holding's financial strength. In addition, some approaches may disregard the direction and size of price movement trends, which can lead to value traps.* The Fund's strategy is designed to try to counter these challenges by maximizing exposure to quality, value and momentum factors. The Fund's Underlying Index attempts to provide global exposure to real estate equities through a portfolio of listed, non-mortgage REITs and operating companies. If occurring, dividends from net investment income, including any net foreign currency gains, are generally declared and paid quarterly. Distributions of net realized securities gains, if any, are generally declared and paid once a year, but the Fund may make such distributions on a more frequent basis.

Related Documents

Fund Facts

as of 04/16/2014
Inception11/05/2013
CUSIP33939L787
Total Net Assets$ 20,499,424.74
Shares Outstanding400,001
# of Holdings147
Gross Expense Ratio.46%
Net Expense Ratio*.45%
Index ProviderNORTHERN TRUST
Primary ExchangeNYSE Arca
Options AvailableN
MarginableY
Derivative UseY
Securities LendingN
*NTI has contractually agreed to reimburse the fees and expenses of the Fund’s independent trustees and independent legal counsel until March 1, 2015.

Tickers

ETF TickerGQRE
Related IndexNTGQRE
NAVGQRE.NV
IOPVGQRE.IV
Shares OutstandingGQRE.SO
Estimated CashGQRE.EU
Total CashGQRE.TC

Fund Characteristics

as of 04/16/2014
SEC Subsidized Yield* (as of 03/31/2014)2.89%
SEC Unsubsidized Yield**
 (as of 03/31/2014)
2.89%
Distribution Yield***1.15%
Weighted Average Market Cap11,880,012,227.46
Price to Earnings (as of 03/31/2014)28.42
Price to Book  (as of 03/31/2014)2.24
Price to Cash Flow  (as of 03/31/2014)16.48
Price to Sales  (as of 03/31/2014)7.88
View Standardized Performance
*SEC Subsidized Yield
The 30-Day SEC Subsidized Yield is computed under an SEC standardized formula based on net income earned over the past 30 days. It is a "subsidized" yield, which means it includes contractual expense reimbursements and it would be lower without those reimbursements. It may also include an inflation adjustment that can cause the yield to vary substantially from one month to the next.
**SEC Unsubsidized Yield
The 30-Day SEC Unsubsidized Yield calculation is also computed under the same SEC standardized formula based on net income earned over the past 30 days, but excludes contractual expense reimbursements, resulting in a lower yield. It may also include an inflation adjustment that can cause the yield to vary substantially from one month to the next.
***Distribution Yield
This yield is calculated by taking the most recent distribution annualized and dividing by the fund NAV from the as of date. For Funds that distribute annually, an NA will be displayed if the fund has not distributed within the last 370 days.

Market Cap (%)

as of 04/16/2014
Large-Cap34.40
Mid-Cap32.55
Small-Cap32.57
Micro-Cap.48
Total100.00

Style (%)

as of 04/17/2014
Value36.43
Core41.23
Growth22.34
Total100.00

SECTOR ALLOCATIONS

GQRE sector allocations

COUNTRY ALLOCATIONS

GQRE country allocations

Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. For most recent month end performance please call 1-855-353-9383 (1-855-FlexETF). All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 11/6/2013, when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. They do not represent the returns you would receive if you traded shares at other times. Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index.

Month End Performance (%)

as of 03/31/2014
 1 MonthQTDYTD1 YearSince Inception
11/5/2013
Market Price.292.832.83N/A1.96
NAV.433.273.27N/A1.77
Northern Trust Global Quality Real Estate Net Total Return Index (NTGQRENTR) .443.343.34N/A1.90
Dow Jones Global Select Real Estate Securities Total Return Net Index (DWGRSN).385.775.77N/A2.22

Quarter End Performance (%)

as of 03/31/2014
 1 MonthQTDYTD1 YearSince Inception
11/5/2013
Market Price.292.832.83N/A1.96
NAV.433.273.27N/A1.77
Northern Trust Global Quality Real Estate Net Total Return Index (NTGQRENTR) .443.343.34N/A1.90
Dow Jones Global Select Real Estate Securities Total Return Net Index (DWGRSN).385.775.77N/A2.22
Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. For most recent month end performance please call 1-855-353-9383 (1-855-FlexETF). All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 11/6/2013, when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. They do not represent the returns you would receive if you traded shares at other times. Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index.

Expense Ratios

as of 04/16/2014
Gross Expense Ratio.46%
Net Expense Ratio*.45%
*NTI has contractually agreed to reimburse the fees and expenses of the Fund’s independent trustees and independent legal counsel until March 1, 2015.


Definitions

  • Net Asset Value (NAV)
    NAV is a fund’s price per share, which is calculated by dividing the total value of all the securities in the fund’s portfolio plus cash, interest and receivables less any liabilities by the number of fund shares outstanding.
  • Market Price
    Because ETFs trade like stocks, ETF shares trade at market value on the secondary market, which can be a dollar value above (trading at a premium) or below (trading at a discount) the fund’s NAV.

Market Price

as of 04/16/2014
Price$51.52
Price $ Change$.49
Price % Change.96%
Avg Bid/Ask Spread$.09
Bid/Ask Midpoint$51.49
Closing Bid Price$51.44
Closing Ask Price$51.54

NAV Price

as of 04/16/2014
Price$51.25
Price $ Change$.42
Price % Change.83%

Trading

as of 04/16/2014
52-Week High$51.52
52-Week Low$47.67
Premium/Discount$.24
Daily Trading Volume (Shares)3,485
Average Trading Volume (Shares)2,128
Shares Outstanding400,001

TOP TEN HOLDINGS

as of 04/16/2014
NameTickerFund
Weight %
SectorMarket CapCountry
PUBLIC STORAGE COM STK USD0.10PSA5.0162Specialized REITsLarge-CapUnited States
CHEUNG KONG HOLDINGS LTD COMMON STOCK HKD 014.2870Real Estate Development & OperationsLarge-CapHong Kong
UNIBAIL-RODAMCO SE REIT EUR 54.2235Real Estate Development & OperationsLarge-CapFrance
VORNADO REALTY TRUST USD0.04VNO3.8975Commercial REITsLarge-CapUnited States
WEYERHAEUSER CO USD1.25WY3.7594Specialized REITsLarge-CapUnited States
HOST HOTELS & RESORTS INC USD1HST3.6735Specialized REITsLarge-CapUnited States
LAND SECURITIES GROUP ORD GBP0.10LAND3.1743Commercial REITsLarge-CapUnited Kingdom
SUMITOMO REALTY & DEVELOPMENT CO LTD COMMON STOCK88303.1035Real Estate Development & OperationsLarge-CapJapan
LINK REAL ESTATE INVESTMENT TRUST UNITS8232.6061Commercial REITsMid-CapHong Kong
ESSEX PROPERTY TRUST INC USD0.0001ESS2.3534Residential REITsMid-CapUnited States
SL GREEN REALTY CORP USD0.01SLG2.2568Commercial REITsMid-CapUnited States
KIMCO REALTY CORP USD0.01KIM2.1418Commercial REITsMid-CapUnited States
SIMON PROPERTY GROUP INC USD0.0001SPG2.0589Commercial REITsLarge-CapUnited States
SWIRE PACIFIC LTD COMMON STOCK HKD 0.6191.8921Real Estate Development & OperationsMid-CapHong Kong
DAITO TRUST CONSTRUCTION CO NPV18781.6479Real Estate Development & OperationsMid-CapJapan
GLOBAL LOGISTIC PROPERTIES LTD NPVMC01.5292Real Estate Development & OperationsMid-CapSingapore
LEND LEASE GROUP NPVLLC1.5024Real Estate Development & OperationsMid-CapAustralia
BARRATT DEVELOPMENTS PLC ORD GBP0.10BDEV1.3961Real Estate Development & OperationsMid-CapUnited Kingdom
GPT GROUP REIT AUD 0GPT1.3826Real Estate Development & OperationsMid-CapAustralia
DEXUS PROPERTY GROUP NPV (STAPLED)DXS1.3260Real Estate Development & OperationsMid-CapAustralia
JONES LANG LASALLE INC USD0.01JLL1.2350Real Estate Development & OperationsMid-CapUnited States
ALEXANDRIA REAL ESTATE EQUITIES INC USD0.01ARE1.2049Commercial REITsMid-CapUnited States
KILROY REALTY CORP USD0.01KRC1.0810Commercial REITsMid-CapUnited States
HOSPITALITY PROPERTIES TRUST USD0.01HPT1.0092Specialized REITsMid-CapUnited States
OMEGA HEALTHCARE INVESTORS USD0.10OHI0.9960Specialized REITsMid-CapUnited States
NATIONAL RETAIL PPTYS INC COMNNN0.9729Commercial REITsMid-CapUnited States
DERWENT LONDON PLC ORD GBP 0.05DLN0.9568Commercial REITsMid-CapUnited Kingdom
CORRECTIONS CORPORATIONS OF AMERICA COM USD0.01CXW0.8702Specialized REITsSmall-CapUnited States
AMERICAN TOWER CORPORATIONAMT0.8653Specialized REITsLarge-CapUnited States
RIOCAN REAL ESTATE TRUST UNITS NPV0.8540Commercial REITsMid-CapCanada
JAPAN RETAIL FUND INVESTMENT CORP REIT89530.8454Commercial REITsMid-CapJapan
GREAT PORTLAND ESTATES PLC ORD GBP0.125GPOR0.8283Real Estate Development & OperationsSmall-CapUnited Kingdom
WEINGARTEN REALTY INVESTORS SHS OF BEN INT USD0.03WRI0.8221Commercial REITsSmall-CapUnited States
TANGER FACTORY OUTLET CENTERS INC REIT USD 0.01SKT0.7956Commercial REITsSmall-CapUnited States
HIGHWOODS PROPERTIES INC USD0.01HIW0.7920Commercial REITsSmall-CapUnited States
LASALLE HOTEL PROPERTIES USD0.01LHO0.7789Specialized REITsSmall-CapUnited States
COMMONWEALTH REIT SHS OF BNF INT USD0.01CWH0.6996Commercial REITsSmall-CapUnited States
GECINA EUR7.50GFC0.6897Diversified REITsMid-CapFrance
H&R REAL ESTATE INVESTMENT TRUST STAPLED UNITS(1HR.UN0.6588Commercial REITsMid-CapCanada
RLJ LODGING TRUST USD0.01RLJ0.6537Specialized REITsSmall-CapUnited States
POST PROPERTIES INC USD0.01PPS0.6436Residential REITsSmall-CapUnited States
EPR PROPERTIES SBI USD0.01EPR0.6383Commercial REITsSmall-CapUnited States
PIEDMONT OFFICE REALTY TRUST INC CLS A USD0.01PDM0.6324Commercial REITsSmall-CapUnited States
SUNSTONE HOTEL INVESTORS INC USD0.01SHO0.5724Specialized REITsSmall-CapUnited States
NOMURA REAL ESTATE HOLDINGS INC NPV32310.5503Real Estate Development & OperationsSmall-CapJapan
FRONTIER REAL ESTATE INVESTMENT COR REIT89640.5501Commercial REITsSmall-CapJapan
UOL GROUP NPVU140.5477Real Estate Development & OperationsMid-CapSingapore
SOVRAN SELF STORAGE INC USD0.01SSS0.5471Specialized REITsSmall-CapUnited States
DIAMONDROCK HOSPIT COM USD0.01DRH0.5414Specialized REITsSmall-CapUnited States
GEO GROUP INC COM USD0.01GEO0.5377Specialized REITsSmall-CapUnited States
PEBBLEBROOK HOTEL TRUST USD0.01PEB0.5007Specialized REITsSmall-CapUnited States
COUSINS PROPERTIES INC USD1CUZ0.4778Commercial REITsSmall-CapUnited States
HOPEWELL HOLDINGS LTD COMMON STOCK HKD 0540.4685Real Estate Development & OperationsSmall-CapHong Kong
SWIRE PACIFIC LTD COMMON STOCK HKD 0.12870.4647Real Estate Development & OperationsMid-CapHong Kong
WHEELOCK & CO LTD COMMON STOCK HKD 0200.4328Real Estate Development & OperationsMid-CapHong Kong
INVESTA OFFICE FUND UNITS NPV (STAPLED DFD)IOF0.4318Commercial REITsSmall-CapAustralia
JAPAN LOGISTICS FUND INC REIT89670.4266Commercial REITsSmall-CapJapan
PS BUSINESS PARKS INC CALIF COM SER'A'USD0.01PSB0.3842Commercial REITsSmall-CapUnited States
NATIONAL HEALTH INVESTORS INC USD0.01NHI0.3770Specialized REITsSmall-CapUnited States
MITSUBISHI ESTATE CO NPV88020.3373Real Estate Development & OperationsLarge-CapJapan
GLOBAL ONE REAL ESTATE INVESTMENT REIT89580.3327Commercial REITsSmall-CapJapan
GOVERNMENT PROPERTIES INCOME USD0.01GOV0.3238Commercial REITsSmall-CapUnited States
FONCIERE DES MURS(NEW) EUR40.3191Specialized REITsSmall-CapFrance
SOTETSU HOLDINGS INC NPV90030.3168Real Estate Development & OperationsSmall-CapJapan
CA IMMOBILIEN ANLAGEN AG NPVCAI0.3162Real Estate Development & OperationsSmall-CapAustria
MAPLETREE COMMERCI NPV (REIT) REG SN2IU0.3147Commercial REITsSmall-CapSingapore
LTC PROPERTIES INC USD0.01LTC0.3145Specialized REITsSmall-CapUnited States
SUMITOMO FORESTRY CO NPV19110.3144Real Estate Development & OperationsSmall-CapJapan
BOARDWALK REAL ESTATE INVESTMENT TR TRUST UNITS0.3107Residential REITsSmall-CapCanada
UNITE GROUP PLC / THE COMMON STOCK GBP 25UTG0.3035Real Estate Development & OperationsSmall-CapUnited Kingdom
GAGFAH SA EUR1.25GFJ0.3026Real Estate Development & OperationsSmall-CapGermany
CHESAPEAKE LODGING TRUST SBI USD0.01CHSP0.3021Specialized REITsSmall-CapUnited States
RETAIL OPPORTUNITY INVESTMENTS CORP COM STKROIC0.2989Commercial REITsSmall-CapUnited States
WORKSPACE GROUP PLC ORD GBP1WKP0.2979Commercial REITsSmall-CapUnited Kingdom
AZRIELI GROUP ILS0.01AZRG0.2964Commercial REITsMid-CapIsrael
DAIWA OFFICE INVESTMENT COPORATION89760.2943Commercial REITsSmall-CapJapan
MAPLETREE INDUSTRIAL TRUST UNITSME8U0.2929Commercial REITsSmall-CapSingapore
AIMS AMP CAPITAL INDUSTRIAL REIT UNITS BOARD LOTO5RU0.2922Commercial REITsSmall-CapSingapore
BWP TRUST NPVBWP0.2897Commercial REITsSmall-CapAustralia
RAMCO-GERSHENSON PROPERTIES TRUST SBI USD0.01RPT0.2841Commercial REITsSmall-CapUnited States
SELECT INCOME REIT USD0.01 SH BEN INTSIR0.2809Commercial REITsSmall-CapUnited States
BIG YELLOW GROUP ORD GBP0.10BYG0.2801Specialized REITsSmall-CapUnited Kingdom
ALLIED PROPS REAL ESTATE INV TST TRUST UNITS NPVAP.UN0.2786Commercial REITsSmall-CapCanada
DAIWA HOUSE REIT INVESTMENT CORP REIT32630.2773Commercial REITsSmall-CapJapan
HANSTEEN HLDGS ORD GBP0.10HSTN0.2768Commercial REITsSmall-CapUnited Kingdom
FRANKLIN STREET PROPERTIES CORP/MA USD0.0001FSP0.2766Commercial REITsSmall-CapUnited States
CHINESE ESTATES HLDGS LTD ORD HKD0.101270.2734Real Estate Development & OperationsMid-CapHong Kong
INLAND REAL ESTATE CORP USD0.01IRC0.2732Commercial REITsSmall-CapUnited States
KIWI INCOME PROPERTY TRUST UNITS NPVKIP0.2687Commercial REITsSmall-CapNew Zealand
KUNGSLEDEN NPVKLED0.2643Real Estate Development & OperationsSmall-CapSweden
ALEXANDER'S INC USD1ALX0.2638Commercial REITsSmall-CapUnited States
JAPAN HOTEL REIT INVESTMENT CO89850.2625Specialized REITsSmall-CapJapan
KENEDIX RESIDENTIAL INVESTMENT CORP REIT32780.2563Residential REITsSmall-CapJapan
FRASERS CENTREPOINT TRUST REIT UNITSJ69U0.2535Commercial REITsSmall-CapSingapore
RELO HOLDINGS INC NPV88760.2520Real Estate ServicesSmall-CapJapan
CORPORACION FINANCIERA ALBA EUR1ALB0.2493Real Estate Development & OperationsSmall-CapSpain
CORESITE REALTY CORP USD0.01COR0.2485Commercial REITsSmall-CapUnited States
SUMMIT HOTEL PROPERTIES INC USD0.01INN0.2484Specialized REITsSmall-CapUnited States
URSTADT BIDDLE PROPERTIES CLASS 'A'COM NPVUBA0.2448Commercial REITsMicro-CapUnited States
QUINTAIN ESTATES & DEVELOPMENT ORD GBP0.25QED0.2444Real Estate Development & OperationsSmall-CapUnited Kingdom
GOLDCREST CO NPV88710.2429Real Estate Development & OperationsSmall-CapJapan
CAPITARETAIL CHINA TRUST UNITSAU8U0.2406Commercial REITsSmall-CapSingapore
SAUL CENTERS INC USD0.01BFS0.2385Commercial REITsSmall-CapUnited States
K.WAH INTERNATIONAL HLDGS HKD0.101730.2359Real Estate Development & OperationsSmall-CapHong Kong
MCGRATH RENTCORP NPVMGRC0.2357Real Estate Development & OperationsSmall-CapUnited States
GETTY REALTY CORP USD0.10GTY0.2324Commercial REITsSmall-CapUnited States
SONGBIRD ESTATES ORD GBP0.10SBD0.2313Real Estate Development & OperationsSmall-CapUnited Kingdom
DUNDEE CORP CLASS'A'SUB VTG NPVDC.A0.2293Real Estate Development & OperationsSmall-CapCanada
ASHFORD HOSPITALITY TRUST INC USD0.01AHT0.2255Specialized REITsSmall-CapUnited States
ATRIUM EUROPEAN REAL ESTATE LTD EUR5ATRS0.2213Real Estate Development & OperationsSmall-CapAustria
FAR EAST CONSORTIUM INTL HKD0.10350.2208Real Estate Development & OperationsSmall-CapHong Kong
TEJON RANCH CO USD0.50TRC0.2194Real Estate Development & OperationsSmall-CapUnited States
CITYCON OYJ NPVCTY1S0.2193Real Estate Development & OperationsSmall-CapFinland
SHUN TAK HOLDINGS LTD COMMON STOCK HKD 02420.2182Real Estate Development & OperationsSmall-CapHong Kong
ICHIGO REAL ESTATE INVESTMENT89750.2157Commercial REITsSmall-CapJapan
NORTHERN PROPERTY REAL ESTATE INVESTMENT TRUSTNPR-U0.2149Residential REITsSmall-CapCanada
FORESTAR GROUP INC USD1FOR0.1944Real Estate Development & OperationsSmall-CapUnited States
CAMBRIDGE INDUSTRIAL TRUST REIT UNITSJ91U0.1854Commercial REITsSmall-CapSingapore
SINGAPORE LAND NPVS300.1847Real Estate Development & OperationsSmall-CapSingapore
DAIBIRU CORP NPV88060.1824Real Estate Development & OperationsSmall-CapJapan
DAIKYO INC NPV88400.1740Real Estate Development & OperationsSmall-CapJapan
MORGUARD CORP COM STK NPVMRC0.1728Real Estate Development & OperationsSmall-CapCanada
PARKWAY LIFE REAL NPV (REIT)C2PU0.1645Specialized REITsSmall-CapSingapore
PRECINCT PROPERTIES NEW ZEALAND NPVPCT0.1632Real Estate Development & OperationsSmall-CapNew Zealand
HO BEE LAND LTD COMMON STOCK SGD 0H130.1454Real Estate Development & OperationsSmall-CapSingapore
FIRST REAL ESTATE INVESTMENT TRUST UNITS 'REGS'AW9U0.1435Specialized REITsSmall-CapSingapore
WING TAI HOLDINGS NPVW050.1427Real Estate Development & OperationsSmall-CapSingapore
SUNLIGHT REAL ESTATE INV TRUST SUNLIGHT REIT4350.1397Commercial REITsSmall-CapHong Kong
UNITED INDUSTRIAL CORP NPVU060.1393Real Estate Development & OperationsSmall-CapSingapore
FRASERS COMMERCIAL TRUST UNITSND8U0.1349Commercial REITsSmall-CapSingapore
NITSBA HLDGS ILS1NTBA0.1337Real Estate Development & OperationsSmall-CapIsrael
FONCIERE DES 6EME ET 7EME EUR15SRG0.1320Diversified REITsSmall-CapFrance
AIRPORT CITY ILS1ARPT0.1289Real Estate Development & OperationsSmall-CapIsrael
KOWLOON DEVELOPMENT CO LTD COMMON STOCK HKD 0340.1241Real Estate Development & OperationsSmall-CapHong Kong
MELCOR DEVELOPMENTS NPVMRD0.1235Real Estate Development & OperationsSmall-CapCanada
SAGAX AB PREF SHS NPVSAGA PREF0.1226Real Estate Development & OperationsMicro-CapSweden
DAEJAN HLDGS GBP0.25DJAN0.1201Real Estate Development & OperationsSmall-CapUnited Kingdom
INDUSTRIAL BUILDINGS CORP ILS1IBLD0.1198Real Estate Development & OperationsSmall-CapIsrael
FONCIERE LYONNAISE EUR20.1192Commercial REITsSmall-CapFrance
REGAL REAL ESTATE INVESTMENT TRUST UNITS18810.1183Specialized REITsSmall-CapHong Kong
TAI CHEUNG HLDGS HKD0.10880.1134Real Estate Development & OperationsMicro-CapHong Kong
SIM LIAN GROUP NPVS050.1108Real Estate Development & OperationsSmall-CapSingapore
HKR INTERNATIONAL HKD0.254800.1104Real Estate Development & OperationsSmall-CapHong Kong
CHINA MERCHANTS HLDGS(PACIFIC)LTD NPVC220.1052Real Estate Development & OperationsSmall-CapSingapore
MORGUARD REAL ESTATE INVESTMENT TST TRUST UNITMRT.UN0.0834Commercial REITsSmall-CapCanada
ST.MODWEN PROPERTIES ORD GBP0.10SMP0.0217Real Estate Development & OperationsSmall-CapUnited Kingdom
DREAM UNLIMITED CORP SUB FOR ORD VTG SHSDRM0.0140Real Estate Development & OperationsSmall-CapCanada

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/29/201412/31/201401/05/2015
12/19/201412/23/201412/26/2014
09/19/201409/23/201409/25/2014
06/20/201406/24/201406/26/2014
03/21/201403/25/201403/27/20140.1452910000.145291
12/27/201312/31/201301/03/20140.1926930000.192693

The Northern Trust Global Quality Real Estate Index is designed to maximize exposure to quality, value and momentum factors, within a universe of companies operating in the real estate sector. The proprietary Northern Trust quality factor (henceforth referenced as the Northern Trust Quality Score or NTQS) is used to identify companies that exhibit strength in profitability, management expertise and cash flow, while value and momentum factors are included to help provide long term capital appreciation and also mitigate risk.