DOMESTIC BIAS VS FOREIGN BIAS? EVIDENCE FROM REITS

Omokolade Akinsomi, Mabuse Moja, Frank Ametefe and Yasushi Asami

AfRES from African Real Estate Society (AfRES)

Abstract: This paper examines the performance of domestic-bias and foreign-bias REITs in South Africa. For instance, in South Africa, recently, REITs management has made investment decisions to invest outside the shores of South Africa to optimize returns. We, therefore, examine the monthly returns of South African REITs from 2013 to 2021 and construct equal-weighted and value-weighted indexes for domestic domiciled REITs and REITs that invest in properties outside of South Africa. We compared the indexes of these portfolios to determine the impact of foreign investment by South African REITs. Our findings would assist investors and fund managers make beer-informed decisions in the area of portfolio selection and management.

Keywords: Diversification; Real Estate Investment Trust; South Africa; Offshore Investments (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:2022-002

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