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Article: The development and performance of REITs in Hong Kong

TitleThe development and performance of REITs in Hong Kong
Authors
KeywordsHong Kong - REITs
Asia REITs
Risk-adjusted returns
Portfolio diversification
Global financial crisis
Issue Date2010
PublisherPacific Rim Real Estate Society. The Journal's web site is located at http://www.prres.net/index.htm?http://www.prres.net/Journals/Research_Journal.htm
Citation
Pacific Rim Property Research Journal, 2010, v. 16 n. 2, p. 190-206 How to Cite?
AbstractHong Kong is one of the most dynamic commercial property markets in Asia. With the recent development of REITs in Asia, HK-REITs have become an important property investment vehicle in Hong Kong since 2005. This paper assesses the significance, risk-adjusted performance and portfolio diversification benefits of HK-REITs in a mixed-asset portfolio in Hong Kong over 2005-2008. The impact of the global financial crisis on HK-REITs and the ongoing strategic development of HK-REITs are also assessed. HK-REITs are seen to deliver strong risk-adjusted returns and to have been robust during the GFC with superior risk-adjusted returns to other listed asset classes, but some loss of diversification benefits was also evident in the GFC.
Persistent Identifierhttp://hdl.handle.net/10722/135470
ISSN
2015 SCImago Journal Rankings: 0.261

 

DC FieldValueLanguage
dc.contributor.authorNewell, GJen_US
dc.contributor.authorWu, Yen_US
dc.contributor.authorChau, KWen_US
dc.contributor.authorWong, SK-
dc.date.accessioned2011-07-27T01:35:28Z-
dc.date.available2011-07-27T01:35:28Z-
dc.date.issued2010en_US
dc.identifier.citationPacific Rim Property Research Journal, 2010, v. 16 n. 2, p. 190-206en_US
dc.identifier.issn1444-5921-
dc.identifier.urihttp://hdl.handle.net/10722/135470-
dc.description.abstractHong Kong is one of the most dynamic commercial property markets in Asia. With the recent development of REITs in Asia, HK-REITs have become an important property investment vehicle in Hong Kong since 2005. This paper assesses the significance, risk-adjusted performance and portfolio diversification benefits of HK-REITs in a mixed-asset portfolio in Hong Kong over 2005-2008. The impact of the global financial crisis on HK-REITs and the ongoing strategic development of HK-REITs are also assessed. HK-REITs are seen to deliver strong risk-adjusted returns and to have been robust during the GFC with superior risk-adjusted returns to other listed asset classes, but some loss of diversification benefits was also evident in the GFC.-
dc.languageengen_US
dc.publisherPacific Rim Real Estate Society. The Journal's web site is located at http://www.prres.net/index.htm?http://www.prres.net/Journals/Research_Journal.htm-
dc.relation.ispartofPacific Rim Property Research Journalen_US
dc.subjectHong Kong - REITs-
dc.subjectAsia REITs-
dc.subjectRisk-adjusted returns-
dc.subjectPortfolio diversification-
dc.subjectGlobal financial crisis-
dc.titleThe development and performance of REITs in Hong Kongen_US
dc.typeArticleen_US
dc.identifier.emailChau, KW: hrrbckw@hku.hken_US
dc.identifier.emailWong, SK: kelvin.wong@hku.hken_US
dc.identifier.authorityChau, KW=rp00993en_US
dc.identifier.authorityWong, SK=rp01028en_US
dc.description.naturelink_to_OA_fulltext-
dc.identifier.hkuros188850en_US
dc.identifier.volume16en_US
dc.identifier.issue2en_US
dc.identifier.spage190en_US
dc.identifier.epage206en_US

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