Return Patterns of German Open-End Real Estate Funds

Sebastian Gläsner

ISBN 10: 3631604068 / ISBN 13: 9783631604069

Editore: Peter Lang, Peter Lang Mär 2010, 2010

Riguardo questo articolo

Neuware -The aim of this study is to better understand stable capital growth of German properties and to contribute to the explanation of stable fund returns. In the course of the investigation, evidence is found that both phenomena are interrelated. All analyses are based on publicly available data; therefore they are not limited by client interests. Results show three different pieces of evidence on return smoothing, namely the influence on valuation, the timing of valuations, and the influence on returns resulting in return differences by calendar months. Together with the notion of internationally uniquely stable returns, it seems impossible to extract true asset volatility from the observed appraisal-based time series. 124 pp. Englisch.

Codice articolo 9783631604069

Dati bibliografici

• Titolo: Return Patterns of German Open-End Real Estate Funds
• Editore: Peter Lang, Peter Lang Mär 2010
• Data di pubblicazione: 2010
• Lingua: Inglese
• ISBN 10: 3631604068
• ISBN 13: 9783631604069
• Rilegatura: Buch
• Condizione: Neu
• Dimensioni: 216 L x 153 A x 11 P (millimetri) 216 millimetri di larghezza per 153 millimetri di altezza per 11 millimetri di profondità
• Peso: 283 grammi

Descrizione articolo

Riassunto

The aim of this study is to better understand stable capital growth of German properties and to contribute to the explanation of stable fund returns. In the course of the investigation, evidence is found that both phenomena are interrelated. All analyses are based on publicly available data; therefore they are not limited by client interests. Results show three different pieces of evidence on return smoothing, namely the influence on valuation, the timing of valuations, and the influence on returns resulting in return differences by calendar months. Together with the notion of internationally uniquely stable returns, it seems impossible to extract true asset volatility from the observed appraisal-based time series.

Informazioni sull?autore

The Author: Sebastian Michael Gläsner studied at the European Business School and achieved a master in business administration (Dipl. Kaufmann) with a focus on real estate and controlling in 2005. He works currently in the area of fund benchmarking.