RISK AND RETURN OF GERMAN REAL ESTATE INVESTMENT VEHICLES

Matthias Thomas and Daniel Piazolo

ERES from European Real Estate Society (ERES)

Abstract: The aim of the paper is to give a better understanding of the risk return relationship of various investment products in Germany. The paper analyses the performance of open ended funds (both public and special) and listed real estate companies. For the purpose of this analyis a benchmark for open ended funds is developed and used as a benchmark, as well as a benchmark for listed real estate companies is developed as either no suitable index exists or existing indices flawed in one way or another (e.g. market capitalization, index weighting etc. ...)Various two-dimensional performance measures are used (e.g. Sharpe Ratio, Treynor Ratio, Tracking Error) for the purpose of ranking the various investment possibilities.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2008-01-01
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2008-274 (text/html)

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:arz:wpaper:eres2008_274

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().