Abstract

http://ssrn.com/abstract=1691263
 


 



Can Reits Play a Strategic Role in Long-Term Wealth Maximization?


Nigel Lewis


affiliation not provided to SSRN

October 12, 2010

Journal of Investment Consulting, Vol. 11, No. 1, pp. 29-36, 2010

Abstract:     
Despite the growing importance of real estate investment trusts (REITs) in retirement-focused investment products, little exists in the literature on their role in long-term retirement wealth creation. No consensus has been reached as to whether REITs should be included as an alternative strategic source of retirement wealth creation. This study examines their role in the context of life cycle investing over two time periods: 1972–2006 and 1972–2009. The incremental impact on both risk and return are examined to assess whether REITs improve the investment opportunity set over a range of life cycle investment portfolios. The findings are somewhat surprising and inform pension fund managers, policy makers, and investors about the diversification benefits of REITs in retirement portfolios.

Keywords: REIT, real estate investment trust, diversification benefit

JEL Classification: E21, G11, G23

Accepted Paper Series


Date posted: November 3, 2010  

Suggested Citation

Lewis, Nigel, Can Reits Play a Strategic Role in Long-Term Wealth Maximization? (October 12, 2010). Journal of Investment Consulting, Vol. 11, No. 1, pp. 29-36, 2010. Available at SSRN: http://ssrn.com/abstract=1691263

Contact Information

Nigel Lewis (Contact Author)
affiliation not provided to SSRN ( email )
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