Persistent Mispricing in Mutual Funds: The Case of Real Estate

Lee Redding

Journal of Real Estate Portfolio Management, 2006, vol. 12, issue 3, 223-232

Abstract: Executive Summary.When mutual funds and related investment companies are unable to compute an accurate net asset value, unintended wealth transfers will occur among fund investors. Previous research has found this effect with international stock funds. Real estate fund managers face an even bigger challenge due to the lack of current price data. By focusing on an investment account involved with direct real estate ownership, the effects of inaccurate fund pricing can bee seen at monthly frequencies. The magnitudes of the asset mispricing and resulting wealth transfers can be estimated, thus pointing the way to a solution.

Date: 2006
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2006.12089745 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:repmxx:v:12:y:2006:i:3:p:223-232

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/repm20

DOI: 10.1080/10835547.2006.12089745

Access Statistics for this article

Journal of Real Estate Portfolio Management is currently edited by Peng Liu and Vivek Sah

More articles in Journal of Real Estate Portfolio Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().