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Risk And Return Of German Real Estate Investment Vehicles

Author

Listed:
  • Matthias Thomas
  • Daniel Piazolo

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.

Suggested Citation

  • Matthias Thomas & Daniel Piazolo, 2008. "Risk And Return Of German Real Estate Investment Vehicles," ERES eres2008_274, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2008_274
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2008-274
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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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