Aurora Borealis
1 March 1997 Financial Analysts Journal Volume 53, Issue 2

U.S. REITs as an Asset Class in International Investment Portfolios

  1. Stephen R. Mull
  2. Luc A. Soenen

An examination of U.S. real estate investment trust (REIT) efficiency as a portfolio component from the perspective of all G-7 countries for the period 1985 through 1994 indicates that U.S. REITs offer both an inflation hedge and diversification. Nevertheless, including REITs in test portfolios did not yield statistically significant increases in risk-adjusted return over the period as a whole. Subperiod analyses indicated large temporal differences in REIT efficiency as a portfolio component.

Read the Complete Article in Financial Analysts Journal Financial Analysts Journal CFA Institute Member Content

We’re using cookies, but you can turn them off in Privacy Settings.  Otherwise, you are agreeing to our use of cookies.  Accepting cookies does not mean that we are collecting personal data. Learn more in our Privacy Policy.