IDEAS home Printed from
MyIDEAS: Login to save this article or follow this journal

Real Estate Mutual Funds: Performance and Persistence

  • Crystal Yan Lin


    (Old Dominion University, Norfolk, VA 23529)

  • Kenneth Yung


    (Old Dominion University, Norfolk, VA 23529)

Registered author(s):

    This paper studies performance of real estate mutual funds between 1993 and 2001. The results indicate that real estate mutual funds do not provide positive abnormal performance on average. Fund performance to a large extent is determined by performance of the real estate sector as a whole. Impacts of risk factors such as size, book-to-market ratio, and market momentum become immaterial when the real estate market index is also included in the evaluation model. Our results also show fund performance persists in the short term. Risk-adjusted real estate fund returns are affected by fund size, but unrelated to expense ratio, management tenure, and turnover.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    File Function: Full text
    Download Restriction: no

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 26 (2004)
    Issue (Month): 1 ()
    Pages: 69-94

    in new window

    Handle: RePEc:jre:issued:v:26:n:1:2004:p:69-94
    Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
    Web page:

    Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
    Web: Email:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:26:n:1:2004:p:69-94. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.