Show simple item record

dc.contributor.authorDrew, Michael E
dc.contributor.authorWalk, Adam N
dc.contributor.authorWest, Jason
dc.date.accessioned2017-09-08T12:30:25Z
dc.date.available2017-09-08T12:30:25Z
dc.date.issued2015
dc.identifier.issn0095-4918
dc.identifier.doi10.3905/jpm.2015.41.6.082
dc.identifier.urihttp://hdl.handle.net/10072/339887
dc.description.abstractIn this article, the authors investigate the potential for real estate as an asset class to be exploited to protect against sequencing risk (or path dependency) in defined contribution retirement funds. Their results suggest that allocating both listed and unlisted real estate assets to retirement portfolios, even if very minor, can enhance the risk–return profile and probability of successfully achieving retirement outcomes. Using a bootstrap simulation approach, the authors test for a range of asset allocations that include real estate. In addition, they examine the sensitivity of real estate performance to changes in monetary policy to optimize portfolio outcomes for fund managers who actively seek exposure to real estate assets. Their findings indicate that the performance of real estate is highly dependent on monetary policy settings that, when used in a dynamic asset allocation process, have the potential to enhance portfolio returns while limiting the impact of downside risk.
dc.description.peerreviewedYes
dc.languageEnglish
dc.publisherInstitutional Investor
dc.relation.ispartofpagefrom82
dc.relation.ispartofpageto95
dc.relation.ispartofissue6
dc.relation.ispartofjournalJournal of Portfolio Management
dc.relation.ispartofvolume41
dc.subject.fieldofresearchInvestment and Risk Management
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchcode150205
dc.subject.fieldofresearchcode1502
dc.titleConditional Allocations to Real Estate: An Antidote to Sequencing Risk in Defined Contribution Retirement Plans
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.hasfulltextNo Full Text
gro.griffith.authorDrew, Michael E.
gro.griffith.authorWalk, Adam


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

  • Journal articles
    Contains articles published by Griffith authors in scholarly journals.

Show simple item record