The Role of Non-Listed Real Estate Funds in Mixed-Asset Portfolios in China

Hyunbum Cho

Journal of Real Estate Literature, 2018, vol. 26, issue 1, 129-149

Abstract: In this paper, I assess the significance, risk-adjusted performance, and portfolio diversification benefits of non-listed real estate funds in China and the strategic role of non-listed real estate funds in mixed-asset portfolios in China over the 2010:Q1– 2015:Q4 period. The results show that non-listed real estate funds in China provide the best risk-adjusted return among the assets classes and have very low correlation with all asset classes including China REITs, property companies, stocks, and bonds, providing significant diversification benefits to mixed-asset portfolios.

Date: 2018
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DOI: 10.1080/10835547.2018.12090473

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