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Using commercial property indices for measuring portfolio performance

Gerald R. Brown (University of Salford, Salford, UK)
George A. Matysiak (Department of Property Valuation & Management, City University Business School, London, UK)

Journal of Property Finance

ISSN: 0958-868X

Article publication date: 1 September 1995

3523

Abstract

The measurement of property portfolio performance is an important issue that, superficially, appears very straightforward. All that is required is an index of property market movements which can then be used as a reference point for comparing performance. Problems can arise, however, if the statistical characteristics of the index are different from the portfolio being analysed. This is not a trivial issue as the difference can be large enough to obscure the true performance of the portfolio and can lead to an inaccurate diagnosis of investment skill. Draws on recent research into index construction and examines some of the issues surrounding these problems. Discusses tracking errors and benchmarking issues.

Keywords

Citation

Brown, G.R. and Matysiak, G.A. (1995), "Using commercial property indices for measuring portfolio performance", Journal of Property Finance, Vol. 6 No. 3, pp. 27-38. https://doi.org/10.1108/09588689510101667

Publisher

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MCB UP Ltd

Copyright © 1995, Company

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