Persistence of Portuguese Real Estate Investment Funds Performance

Filipe Vasques, José Cardoso Teixeira and Elísio Brandão

Journal of Real Estate Portfolio Management, 2009, vol. 15, issue 3, 251-266

Abstract: Executive Summary. Real Estate Investment Funds (REIFs) in Portugal are a recent and fast growing industry. Despite the scarcity of research addressing this type of investment vehicle, there are strong arguments leading to the assumption that the present fund regulatory framework conditions the determination of their returns, influencing distribution features and inducing predictability. This study develops a detailed persistence analysis using contingency tables to investigate the issue of predictability. Relevant and robust evidence of both short- and long-term performance persistence within the overall property fund industry and for the restricted universe of open-ended funds is found.

Date: 2009
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2009.12089853 (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:15:y:2009:i:3:p:251-266

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

DOI: 10.1080/10835547.2009.12089853

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 ().