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The Role of Non-Listed Real Estate Funds in Mixed-Asset Portfolios in China

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  • Hyunbum Cho

Abstract

In this paper, I assess the significance, risk-adjusted performance, and portfolio diversification benefits of non-listed real estate funds in China and the strategic role of non-listed real estate funds in mixed-asset portfolios in China over the 2010:Q1– 2015:Q4 period. The results show that non-listed real estate funds in China provide the best risk-adjusted return among the assets classes and have very low correlation with all asset classes including China REITs, property companies, stocks, and bonds, providing significant diversification benefits to mixed-asset portfolios.

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  • Hyunbum Cho, 2018. "The Role of Non-Listed Real Estate Funds in Mixed-Asset Portfolios in China," Journal of Real Estate Literature, Taylor & Francis Journals, vol. 26(1), pages 129-149, July.
    • Handle: RePEc:taf:rjelxx:v:26:y:2018:i:1:p:129-149
    DOI: 10.1080/10835547.2018.12090473
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    Cited by:

    1. Alfonso Valero, 2024. "Diversification strategies for indirect real estate. Intersection of business, economics, and society in shanghai mixed-use developments," SN Business & Economics, Springer, vol. 4(10), pages 1-26, October.

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