The Effect of Focus on the Performance of German Mutual Real Estate Funds

Steffen Sebastian ()

ERES from European Real Estate Society (ERES)

Abstract: We analyze the effect of diversification across property types and regions on the performance of German mutual real estate funds, the predominant vehicle for indirect real estate investment in Germany. We find weak but robust evidence that diversification across property types destroys shareholder value, while regional diversification enhances value. We further find that increased expenses are not rewarded with increased performance.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2009-01-01
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2009-185 (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:eres2009_185

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 ().