U.S. REITs as an Asset Class in International Investment Portfolios

U.S. REITs as an Asset Class in International Investment Portfolios

An examination of U.S. real estate investment trust (REIT) efficiency as a portfolio component from the perspective of all G-7 countries for the period 1985 through 1994 indicates that U.S. REITs offer both an inflation hedge and diversification. Nevertheless, including REITs in test portfolios did...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Financial analysts journal 1997-03, Vol.53 (2), p.55-61
Hauptverfasser: Stephen R. Mull, Soenen, Luc A.
Format: Artikel
Sprache:eng
Schlagworte:
Asset allocation
Bond portfolios
Common stock
Diversification
Efficiency
Financial bonds
Financial investments
Financial portfolios
Hedging
Industrialized nations
Inflation
International finance
International investment
Investment portfolios
Investments
Investors
Portfolio diversification
Portfolio investments
Portfolio management
Rates of return
Real estate
Real estate investment trusts
REITs
Securities markets
Statistical data
Stock exchanges
Volatility
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:An examination of U.S. real estate investment trust (REIT) efficiency as a portfolio component from the perspective of all G-7 countries for the period 1985 through 1994 indicates that U.S. REITs offer both an inflation hedge and diversification. Nevertheless, including REITs in test portfolios did not yield statistically significant increases in risk-adjusted return over the period as a whole. Subperiod analyses indicated large temporal differences in REIT efficiency as a portfolio component.
ISSN:0015-198X
1938-3312
DOI:10.2469/faj.v53.n2.2072