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THE RISK OF PROPERTY TO THE INSTITUTIONAL INVESTOR

Journal of Valuation

ISSN: 0263-7480

Article publication date: 1 January 1986

Abstract

This paper investigates the risk incurred in UK property investment by the major investing institutions. The historic variability of investment returns from property is compared with that from long dated British government bonds (gilts) and ordinary shares (equities) using data from the JLW Property Index.1 A variety of definitions of risk are examined in order to assess the relative risk of property, considered both in isolation and as an integral part of the overall institutional portfolio. The investigation concludes that, since the late 1960s, property has involved significantly less risk than either of the two alternative investments.

Citation

FRASER, W. (1986), "THE RISK OF PROPERTY TO THE INSTITUTIONAL INVESTOR", Journal of Valuation, Vol. 4 No. 1, pp. 45-59. https://doi.org/10.1108/eb007987

Publisher

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MCB UP Ltd

Copyright © 1986, MCB UP Limited