Institutional real estate portfolio diversification in Ireland and the UK
McGreal, Stanley
Institutional real estate portfolio diversification in Ireland and the UK - 2006 - Journal of Property Investment and Finance 24(2) 2006, 136-149(15) .
Examines the potential diversification of private real estate investments by creating optimal real estate-only portfolios using total returns, income returns and appreciation returns for office and retail real estate in ten major regional centres in Ireland and the United Kingdom, with the returns being treated as separate asset streams in the modelling of portfolios. The results showed different risk levels, with the income stream carrying low risk, whilst the capital appreciation element is considerably more volatile. Optimal portfolios, whether income, appreciation or total returns, indicate that provincial markets perform well and can replace London in optimised portfolios.
Institutional real estate portfolio diversification in Ireland and the UK - 2006 - Journal of Property Investment and Finance 24(2) 2006, 136-149(15) .
Examines the potential diversification of private real estate investments by creating optimal real estate-only portfolios using total returns, income returns and appreciation returns for office and retail real estate in ten major regional centres in Ireland and the United Kingdom, with the returns being treated as separate asset streams in the modelling of portfolios. The results showed different risk levels, with the income stream carrying low risk, whilst the capital appreciation element is considerably more volatile. Optimal portfolios, whether income, appreciation or total returns, indicate that provincial markets perform well and can replace London in optimised portfolios.