The paper investigates portfolio risk management strategies for real estate investments in order to get the maximum value for the financial investor. More in detail, the analysis is aimed at choosing whether it is better investing in diversified portfolios, either fragmented by typology or geographically, or in specialized portfolios, in the latest case through a diversification at financial investor’s level rather than at the fund/portfolio level. The empirical analysis, carried out in the large American REITs market and based on the risk adjusted performance at the financial investor’s level, shed some light on the strategies to be carried out by real estate portfolio and fund managers

Diversificazione del rischio nella gestione di portafogli immobiliari: analisi della performance dei REITs americani

MORRI, GIACOMO;
2008

Abstract

The paper investigates portfolio risk management strategies for real estate investments in order to get the maximum value for the financial investor. More in detail, the analysis is aimed at choosing whether it is better investing in diversified portfolios, either fragmented by typology or geographically, or in specialized portfolios, in the latest case through a diversification at financial investor’s level rather than at the fund/portfolio level. The empirical analysis, carried out in the large American REITs market and based on the risk adjusted performance at the financial investor’s level, shed some light on the strategies to be carried out by real estate portfolio and fund managers
2008
Morri, Giacomo; A., Erbanni
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/3827297
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