University of Reading

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• When Does Direct Real Estate Improve Portfolio Performance?

  BNET - 2003-10-20

  For over twenty years, researchers have been recommending that investors diversify their portfolios by adding direct real estate. Based on the tenets of modern portfolio theory MPT investors are told that the primary reason they should include direct real estate is that they will enjoy decreased volatility risk through increased...

  Tags: Performance, University Of Reading, Real Estate, Business Operations

• The Persistence of Real Estate Fund Performance

  BNET - 2003-04-01

  This paper examines the short and long-term persistence of tax-exempt real estate funds through the use of winner-loser contingency table methodology. The persistence tests are applied to a database of varying numbers of funds from a low of 16 to a high of 27 using quarterly returns over the 12...

  Tags: Performance, University Of Reading, Persistence Test, Real Estate, Business Operations

• A Meta Analysis of Real Estate Fund Performance

  BNET - 2002-05-13

  This paper provides evidence regarding the risk-adjusted performance of 19 UK real estate funds in the UK, over the period 1991-2001. Using Jensen's alpha the results are generally favorable towards the hypothesis that real estate fund managers showed superior risk-adjusted performance over this period. However, the paper then utilizes the...

  Tags: Performance, Analysis, University Of Reading, Real Estate, Performance Management, Business Operations, Human Resources, Workforce Management

• Fixing the Currency: Analyzing the Implications for Property Investment Performance

  BNET - 2000-05-30

  This paper analyses the historic effects of exchange rate movements on returns, risk, and diversification of office markets within the Euro zone in order to gain insights into the investment consequences of conversion to a fixed rate currency regime. The data used in the study represents annual office rental growth...

  Tags: Performance, University Of Reading, Free Trade, Investment, Finance