The Mixed Asset Portfolio for Asia-Pacific Markets

Changha Georgia, Terry Grissom and Alan Ziobrowski

Journal of Real Estate Portfolio Management, 2007, vol. 13, issue 3, 249-256

Abstract: Executive Summary.In this study, mixed-asset portfolios were constructed containing real estate, common stock, and bond investments from various Asian-Pacific countries. The countries of particular interest include six economically developing countries: China, Indonesia, Malaysia, the Philippines, South Korea, and Thailand, and five developed countries: Singapore, Japan, Hong Kong, Australia, and New Zealand. The time period is 1998-2005. Upon close examination of these portfolios, it becomes clear that currency risk is a larger concern when investing in countries with emerging markets in comparison to countries with already developed markets. Despite the currency risk, the results of this study show that mixed-asset portfolios from countries with emerging economies have outperformed the assets of developed countries for moderate and aggressive investors targeting Asian-Pacific countries.

Date: 2007
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DOI: 10.1080/10835547.2007.12089776

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