Join us on Tuesday 9 February together with the 2020 winners of the Nick Tyrrell Research prize as they present their winning paper, ‘Real Estate in Mixed-Asset Portfolios for Various Investment Horizons’.
The webinar hosted by the IPF will feature a panel of industry experts, Peter Epping, Hines and Thushka Maharaj, JP Morgan together with the joint prize winners, Jean-Christophe Delfim and Prof. Martin Hoesli, both of the Geneva School of Economics and Management, as they present the winning paper.
The paper expands the literature by considering the various ways of gaining exposure to the asset class, i.e. direct real estate, REITs, and non-listed real estate funds, as well as other alternative investments. The authors find that medium- to long term investors should allocate 10% to 20% of their portfolio to direct real estate, whereas short-term investors should focus on open-end core funds. They also report that including commodities, private equity, and hedge funds in a portfolio enhances the portfolio’s performance but the allocation to real estate barely changes.