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Morgan Stanley REIT Index Reaches New High

NEW YORK CITY-The Dow Jones closed up 0.2% year to date while the S&P 500 is down 5.7% and the Nasdaq by 17.1%. The RMS rose 1.7% for the same period.

By John Howe | Updated on April 30, 2001

NEW YORK CITY-The Morgan Stanley REIT Index (RMS) hit an all time high on Friday, reaching 364.56, up 1.1% from the day before. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq were also up, with the Dow closing up 0.2% year to date while the S&P and the Nasdaq were down, 5.7% and 17.1%, respectively, according to the Bears Stearns REIT Monitor. The RMS is up 1.7% for the same period.

Approximately $8.3 million was invested in mutual finds dedicated to real estate for the week ending Apr. 25, which contributed to a rise in total asset value to about $20 million to $10.3 billion, unchanged from the week before when outflows totaled $19.2 million.

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