Real estate asset management has been and will continue to be a topic of great interest.
Specifically, does real estate warrant inclusion in an efficient portfolio? And if so, how much …

This study compares and contrasts the results of two surveys of investors interested in
international real estate (European and Southeast Asian). The results provide information on …

It has been more than a decade since researchers first raised the spectre of smoothing for
appraisal-based real estate return series, suggesting that real estate risk had been grossly …

This study summarizes a survey that examined the decisionmaking process used by large
defined benefit pension plans in their real-estate-only portfolios. Most researchers have …

Modern portfolio theory,(MPT) has increasingly been applied in the area of real estate
analysis in order to examine and justify the place of real estate in the mixed-asset portfolio …

We examine the effects of including timberland, farmland and commercial real estate in a
mixed asset portfolio with stocks, government bonds and T-Bills. Using both smoothed and …

Using mean-variance utility function analysis with various degrees of risk aversion, this
research examines the impact of Real Estate Investment Trusts (REITs) in creating optimal …

Is Downside risk (DR) a better alternative to the traditional mean-variance analysis (MV) for
real estate portfolio diversification? This study demonstrates a bootstrap approach for …

Superannuation funds in Australia currently have over $740 billion in assets, with
compulsory superannuation having a continued strong impact on funds flowing into this …

This study examines the liability hedging characteristics of both direct and indirect real
estate with the advent of fair value accounting obligations for pension funds. We explicitly …