The Performance and Diversification Potential of Non-Listed Value-Add Real Estate Funds in Japan
Journal of Risk and Financial Management
; 15(5):198, 2022.
Article
in English
| ProQuest Central | ID: covidwho-1871058
ABSTRACT
In the aftermath of the COVID-19 pandemic, non-core investments are gaining traction amongst institutional investors due to the shifting preference towards investment vehicles that position higher on the risk–return curve. Non-listed value-add real estate funds in Japan are one such vehicle. This research develops a comprehensive bespoke benchmark total return index using the ANREV database to reflect the performance of Japan-focussed non-listed value-add real estate funds. We compare the performance of such funds with that of other asset classes and perform portfolio and regression analyses. We conclude that there are several advantages to investing in those funds, including (1) strong absolute total return performance, (2) competitive risk-adjusted performance, and (3) significant portfolio diversification potential in a mixed-asset portfolio context. The strategic implications for real estate investors are also assessed.
Business And Economics; non-listed real estate fund; value-add real estate fund; Japan; risk-adjusted performance; real estate investment strategy; Research; Commercial real estate; Diversification; Investment advisors; Institutional investments; Investment policy; Sovereign wealth funds; Pension funds; REITs; Portfolio management; United States--US; Asia; Europe; 52392:Portfolio Management; 52511:Pension Funds; 52393:Investment Advice
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Collection:
Databases of international organizations
Database:
ProQuest Central
Language:
English
Journal:
Journal of Risk and Financial Management
Year:
2022
Document Type:
Article
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