... decision making regarding the strategic role of German REITs in a portfolio. Graeme Newell can be contacted at: g.newell@uws.edu.au 01 01 2017 24 04 2017 14 06 2017 © Emerald Publishing Limited 2018 Emerald Publishing Limited Licensed re-use rights only Portfolio...

... financial crisis Post‐GFC recovery Portfolio investment SIICs were established as the REIT market in France in 2003; being the third European REIT market in Europe, after REITs in The Netherlands and Belgium. This reflects the growth in innovative property vehicles in Europe in recent years...

... analysis International trade Real estate Portfolio investment The current, still continuing, financial crisis and its contagion effects across almost all asset markets as well as national financial markets impressively illustrate that returns are not normally distributed and correlations...

... tail dependence. Low values of the parameter v indicate strong tail dependence. Real estate Portfolio investment Returns Stock markets Risk analysis Australia In order to determine the empirical copula, we do not wish to introduce any distributional assumptions...

... and valuable insights into the correlation structure of real estate stock markets over time and the limitations for portfolio management based on mean‐variance‐optimization. Felix Schindler can be contacted at: schindler@zew.de © Emerald Group Publishing Limited 2009 Real estate Portfolio...

... market in Asia, only exceeded by Japan (see Table III); further reinforcing China's potential role in an Asian property portfolio by international investors. China Organizations Property Portfolio investment International organizations Investors With investors having an increased...

.... This effect on the income stream usually occurs late in the business cycle, at a point when interest rates tend to increase resulting in a weaker bond market performance. Martin Hoesli can be contacted at: martin.hoesli@hec.unige.ch © Emerald Group Publishing Limited 2008 Real estate Portfolio...

... investing in equities and bonds. Therefore a comparison of the liquidity premium on real estate will not be made for those two stages. Real estate Liquidity Portfolio investment The Netherlands The Dutch real estate index, the ROZ/IPD Real Estate Index, was founded in 1994 in order...

.... Liow can be contacted at: rstlkh@nus.edu.sg © Emerald Group Publishing Limited 2007 Volatility Asset management Portfolio investment Real estate First, expected returns differ across the individual real estate security markets through their different betas (i.e. systematic risks...

..., 2006). These retail LPTs have adopted different retail portfolio investment strategies, including 100 per cent domestic retail portfolios (eg: CFS Gandel), 100 per cent international retail portfolios (e.g. Macquarie DDR, Galileo Shopping America, APN European) and merged domestic/international retail...

... © Emerald Group Publishing Limited 2006 Real estate Portfolio investment For each portfolio and holding period, the percentage of portfolios with real estate was computed, as was the average real estate allocation in the optimum solution. Finally, the risk and return differences...

... The classical approach to portfolio construction using MPT has two serious defects: Optimization techniques Portfolio investment Risk management Investors in real estate have typically attempted to diversify portfolios through a process of naive diversification. Recently modern portfolio theory...

... portfolio models using different measures of risk have been and continue to be developed. MV, SV, LPMZ, MM and MAD models are considered in this study to keep the comparisons to a reasonable number. © Emerald Group Publishing Limited 2004 Risk analysis Modelling Portfolio investment...

..., with significant improvements in performance relative to a base capital market only portfolio. © Emerald Group Publishing Limited 2004 Real estate Portfolio investment Performance measurement United States of America The analysis of real estate's role within a mixed‐asset portfolio has taken...

..., Eichholtz et al. (1995) argue that such a three‐property type and three “super regional” classification provides a viable portfolio investment strategy for investors in the UK, with little to be gained from a more refined classification scheme. In other words the use of a small number of real...

... by combining equity, fixed‐income securities, and unsecuritized real estate. The time series of the styles on REITs indicates that it is difficult to ex ante produce returns on REITs without diversifying into REITs. © MCB UP Limited 2002 Real estate Investment Trusts Assets Portfolio investment...