This article explores the role of global commercial real estate in a strategic asset allocation.
Global REIT and listed real estate stock indices are used to proxy the broader direct and …

This paper discusses investment and risk management strategies for pension funds. Using a
simple mean-variance framework for understanding the risks and returns of alternative …

The purpose of this paper is to clarify some aspects of geared investments which are
investments partially financed from a loan. Gearing is a standard tool of investment and …

On the one hand, the perceived advantages of leverage can induce a temptation for
excessive risk-taking. On the other hand, one must be sensitive to the fact that pragmatic …