The hedged apartment indexreflects the returns of apartment REITs after the effects of equity REITs and the stockmarket are removed from the apartment REIT returns.

• 受到REIT和股票市场的影响后，部门障碍指数就反应着REIT部门的回报率。REIT和股票市场是从REIT部门回报率中转变而来的。