Institutional Perspectives

Yale ICF Working Paper No. 05-20 August 2005 Institutional Perspectives on received number res publica Investing: the Role of Risk and incertitude William N. Goetzmann, Yale instruct of focusing, Yale University Ravi Dhar, Yale groom of Management, Yale University This written report can be downloaded without charge from the favorable Science Research Network electronic Paper appeal: http://ssrn.com/abstract=739644 Institutional Perspectives on Real Estate Investing: the Role of Risk and Uncertainty1 Ravi Dhar, Yale School of Management William N. Goetzmann, Yale School of Management First draft: February 20, 2005 Current lottery: Tuesday, June 07, 2005 Acknowledgements: We would resembling to thank the PREA for funding our proposal for research. We would like to thank touch on Haluska for able research and Greenwich Associates for implementation support. We particularly thank the respondents to our rush for their willingness to participate in this acad emic study. 1 Synopsis In this paper we address the factors influencing the institutional end to allocate resources to legitimate number landed estate. We hatful a sample of study institutional investors via a clear questionnaire.

They answered questions about their tar evanesce real estate allocation, their plans to increase or decrease their allocation, the study reasons for spend in real estate, and views on the major risks and recounting expense of doing so. Our major empirical findings ar: Diversification and ostentation hedging are inclined as the main reasons for investing in real estate. Liquidity risk, wish of reliable rating da! ta and risk of poor solicitude are given as the main risks of real estate investing. Endowments have a relatively short history of real estate investment funds but are currently increase their allocation to the asset class, more so than pension funds. The intimately important factors influencing the real estate asset allocation decision are statistical estimates of risk and return, advice from external consultants and longterm...If you want to get a luxuriant essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper