A Midwestern asset manager has launched a new real estate index fund with global aspirations. In a statement issued Wednesday, Chicago-based Northern Trust announced the release of what it claims is "the industry's first global real estate index fund," the Northern Global Real Estate Index Fund.

Steven Wetter of the Global Quantitative Management Group serves as manager for the fund's securities, which will include 300-odd stocks in 21 different first-world countries. 

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