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BNP paribas real estate guide to investing in germany

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There are are a number of advantages to directly evaluating the portfolio of property holdings of REIT and private investors, rather than at the mutual funds of REITs (see e.g. Kallberg, Liu and Trzcinka (2000), Hartzell, M¨uhlhofer and Titman (2010) for studies of REIT mutual fund performance). As we are able to observe the individual property characteristics, we can design benchmarks that are better able to capture the particular characteristics of portfolio manager holdings. Knowing the timing of individual property transactions allows us to more accurately compute portfolio weights across time. Additionally, as is the case in exploring individual holdings in mutual funds in Daniel et al....
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BNP paribas real estate guide to investing in germany

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