Trevillion, E., Gardner, A., Cowe, S. and Jones, C. (2020) The use of benchmarks for real estate portfolio performance by U.K. financial institutions. Journal of Real Estate Portfolio Management, 26(2), pp. 118-131. (doi: 10.1080/10835547.2020.1858620)
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Abstract
The paper examines the application of benchmarks in the United Kingdom primarily through the use of semi-structured interviews with 17 major investment houses, holding domestic real estate assets under management of nearly £180bn with in excess of £515bn in other countries. The MSCI/IPD database is the predominant reference point for peer and relative benchmarking, but funds also apply an absolute benchmark approach. Many fund houses indicated a reluctance to change benchmarks. However, increasing short-termism and the transformation of market fundamentals after the GFC have led to a reappraisal of the nature of existing benchmarks and there is a continuing move toward use of alternatives.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Trevillion, Mr Edward and Gardner, Dr Alan |
| Authors: | Trevillion, E., Gardner, A., Cowe, S., and Jones, C. |
| College/School: | College of Social Sciences > School of Social and Political Sciences College of Social Sciences > School of Social and Political Sciences > Urban Studies |
| Journal Name: | Journal of Real Estate Portfolio Management |
| Publisher: | Taylor & Francis |
| ISSN: | 1083-5547 |
| ISSN (Online): | 2691-1205 |
| Published Online: | 20 January 2021 |
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