Search results

1 – 10 of 101
Article
Publication date: 30 May 2023

Graeme Newell

This paper identifies the need to expand the range of research methodologies considered suitable for high-calibre property research publications in the top property journals…

165

Abstract

Purpose

This paper identifies the need to expand the range of research methodologies considered suitable for high-calibre property research publications in the top property journals, particularly concerning the critical “bigger” property research issues going forward. This is important for early career researchers (ECRs), as the ECRs develop the suitability of the research methodologies used by the ECRs in expanding the ECRs' property research agendas.

Design/methodology/approach

This research is based on a thorough understanding and extensive experience of the range of property research methodologies available today to publish in the top property journals. This depth of understanding is supported by extensive discussions with leading property industry professionals, as well as reviewing the property research, track record of several leading property researchers from the UK.

Findings

A broader range of research methodologies is needed in property research today to fully capture the challenges of the critical property research questions going forward. These methodologies need to go well beyond the finance paradigm that has dominated property research in recent years.

Practical implications

Many of the key property research questions going forward need to be addressed by a range of methodologies for richer and deeper insights into resolving these property issues. This particularly relates to the important research issues for the property industry which require a “bigger picture” analysis of these issues, with the research presented in a manner which is accessible and relevant to property industry professionals.

Originality/value

This paper addresses the need to expand the research methodologies used in property research today. This is a key issue for property researchers going forward, as many of the important property research questions cannot be addressed from just within the traditional finance paradigm.

Details

Journal of Property Investment & Finance, vol. 41 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Content available
Article
Publication date: 14 February 2023

Graeme Newell

340

Abstract

Details

Journal of Property Investment & Finance, vol. 41 no. 1
Type: Research Article
ISSN: 1463-578X

Content available
Article
Publication date: 30 June 2020

Graeme Newell

201

Abstract

Details

Journal of Property Investment & Finance, vol. 38 no. 3
Type: Research Article
ISSN: 1463-578X

Article
Publication date: 18 June 2020

Yu-Cheng Lin, Chyi Lin Lee and Graeme Newell

As significant listed property investment vehicles, industrial and logistics REITs (I&L REITs) have recently enhanced their property portfolios, often replacing the traditional…

Abstract

Purpose

As significant listed property investment vehicles, industrial and logistics REITs (I&L REITs) have recently enhanced their property portfolios, often replacing the traditional industrial properties with logistic properties to gain strategic exposure to recent e-commerce trends. This paper aims to assess the investment performance of I&L REITs by assessing the significance, risk-adjusted performance and portfolio diversification benefits of I&L REITs in the Pacific Rim region from July 2011 to December 2018. The strategic property investment implications for I&L REITs are also identified.

Design/methodology/approach

Monthly total returns from July 2011 to December 2018 were used to analyse the risk-adjusted performance and portfolio diversification benefits for I&L REITs in the United States, Japan, Australia and Singapore. An asset allocation diagram was employed to assess the strategic role of I&L REITs in a mixed-asset portfolio in each case.

Findings

I&L REITs generally possessed superior average annual returns compared with the other sub-sector REITs, stocks and bonds in the United States, Japan, Australia and Singapore between July 2011 and December 2018, with desirable portfolio diversification benefits. Importantly, a more significant role for I&L REITs was generally observed in the mixed-asset portfolio compared to the other sub-sector REITs in each of these four markets across the broad portfolio risk spectrum. This reflects I&L REITs delivering enhanced portfolio returns and offering portfolio diversification benefits in a mixed-asset portfolio in the United States, Japan, Australia and Singapore.

Practical implications

Property investors, particularly property securities funds (PSFs) and income-oriented investors, should consider including I&L REITs in their mixed-asset portfolios, as Pacific Rim–based I&L REITs provided an attractive REIT investment sub-sector, co-existing alongside the other sub-sector REITs and major asset classes in a mixed-asset portfolio in a Pacific Rim context, as well as being a portfolio diversifier. These results confirm the added-value and strategic role of I&L REITs in a mixed-asset portfolio, seeing I&L REITs as an effective investment pathway for I&L property exposure in the Pacific Rim region.

Originality/value

This is the first study to assess the investment performance of I&L REITs in the Pacific Rim region, evaluating their significance, risk-adjusted performance and portfolio diversification benefits, and the role of I&L REITs in a mixed-asset portfolio in the United States, Japan, Australia and Singapore. More importantly, this research is the first paper to provide empirical evidence on I&L REITs, which have often transformed their traditional industrial property portfolios with increased levels of logistics property to gain exposure to recent e-commerce trends. This research enables more informed and practical property investment decision-making regarding I&L REITs and their added-value and strategic role in a mixed-asset portfolio, as well as delivering effective I&L property exposure in the Pacific Rim region, with the added benefits of liquidity, transparency and fiscal efficiency.

Details

Journal of Property Investment & Finance, vol. 38 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 17 April 2023

Graeme Newell, Alastair Adair, Paloma Taltavull and Stanley McGreal

The university context has changed considerably in recent years. This paper aims to identify career strategies that can be used by property academics in the property education…

171

Abstract

Purpose

The university context has changed considerably in recent years. This paper aims to identify career strategies that can be used by property academics in the property education, research and industry linkages spaces in this changing university environment. This is particularly relevant for early career researchers (ECRs), as they navigate developing their careers as the next generation of property academics.

Design/methodology/approach

This research is based on a thorough understanding and extensive experience of the university environment in the property area by the four authors. This depth of understanding is at a global level, with team members having extensive property academic experience over many years in Europe, the USA and Asia–Pacific.

Findings

Career strategies for property academics are identified that will ensure the next generation of property academics are suitably prepared for the challenges of being an academic in the changing university environment. This is particularly relevant for ECRs in property.

Practical implications

It is important to prepare the next generation of property academics to ensure the high quality of property graduates as they become the next generation of property professionals. Practical career strategies are identified for property academics to ensure that they have the necessary skills to develop their academic careers to empower the next generation of property professionals.

Originality/value

This paper is the first paper to specifically address the career strategies needed by property academics in universities today. This is a key issue for the property industry going forward at all levels to ensure the next generation of property academics are empowered to prepare the next generation of property professionals.

Details

Journal of Property Investment & Finance, vol. 41 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 28 June 2024

Graeme Newell and Jufri Marzuki

Farmland is an important property sector that has attracted the attention of institutional investors globally in recent years. This paper examines the risk-adjusted performance…

Abstract

Purpose

Farmland is an important property sector that has attracted the attention of institutional investors globally in recent years. This paper examines the risk-adjusted performance and portfolio diversification benefits of Australian farmland in a portfolio over the eight-year period of Q2:2015–Q2:2023, highlighting the unique property management dimensions to this property sector for its effective role in an institutional investor's property portfolio.

Design/methodology/approach

Using the quarterly ANREV Australian farmland index over Q2:2015–Q2:2023, the risk-adjusted performance and portfolio diversification potential of Australian farmland is assessed. Constrained mixed-asset portfolios are used to assess the potential added-value role of Australian farmland in a mixed-asset portfolio. Analyses are also done for the farmland sub-sectors of annual farmland and permanent farmland.

Findings

Australian farmland is seen to show strong risk-adjusted performance but at a much higher risk level than that seen for direct property. Diversification benefits from Australian farmland are also evident, with an important role by Australian farmland seen in the mixed-asset portfolio. Specific farmland property management strategies are identified for the effective inclusion of farmland in an institutional investor's property portfolio, including the potential benefits towards net zero carbon strategies.

Originality/value

This is the first research that provides an independent empirical examination of the strategic importance of Australian farmland property for institutional investors using the institutional investment-grade ANREV Australian farmland database, from both an investment and environmental perspective. The unique property management implications for Australian farmland property are also highlighted, including the potential role of Australian farmland in net zero carbon strategies by institutional investors.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

Keywords

Content available
Article
Publication date: 18 June 2021

Graeme Newell

268

Abstract

Details

Journal of Property Investment & Finance, vol. 39 no. 4
Type: Research Article
ISSN: 1463-578X

Content available
Article
Publication date: 27 October 2020

Graeme Newell

190

Abstract

Details

Journal of Property Investment & Finance, vol. 38 no. 6
Type: Research Article
ISSN: 1463-578X

Content available
Article
Publication date: 19 August 2021

Graeme Newell

261

Abstract

Details

Journal of Property Investment & Finance, vol. 39 no. 6
Type: Research Article
ISSN: 1463-578X

Article
Publication date: 21 March 2024

Graeme Newell and Muhammad Jufri Marzuki

Renewable energy infrastructure is an important asset class in the context of reducing global carbon emissions going forward. This includes solar power, wind farms, hydro, battery…

Abstract

Purpose

Renewable energy infrastructure is an important asset class in the context of reducing global carbon emissions going forward. This includes solar power, wind farms, hydro, battery storage and hydrogen. This paper examines the risk-adjusted performance and diversification benefits of listed renewable energy infrastructure globally over Q1:2009–Q4:2022 to examine the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio. The performance of renewable energy infrastructure is compared with the other major infrastructure sectors and other major asset classes. The strategic investment implications for institutional investors and renewable energy infrastructure in their portfolios going forward are also highlighted. This includes identifying effective pathways for renewable energy infrastructure exposure by institutional investors.

Design/methodology/approach

Using quarterly total returns, the risk-adjusted performance and portfolio diversification benefits of global listed renewable energy infrastructure over Q1:2009–Q4:2022 is assessed. Asset allocation diagrams are used to assess the role of renewable energy infrastructure in a global infrastructure portfolio and in a global mixed-asset portfolio.

Findings

Listed renewable energy infrastructure was seen to underperform the other infrastructure sectors and other major asset classes over 2009–2022. While delivering portfolio diversification benefits, no renewable energy infrastructure was seen in the optimal infrastructure portfolio or mixed-asset portfolio. More impressive performance characteristics were seen by nonlisted infrastructure funds over this period. Practical reasons for these results are provided as well as effective pathways going forward are identified for the fuller inclusion of renewable energy infrastructure in institutional investor portfolios.

Practical implications

Institutional investors have an important role in supporting reduced global carbon emissions via their investment mandates and asset allocations. Renewable energy infrastructure will be a key asset to assist in the delivery of this important agenda for a greener economy and addressing global warming. Based on this performance analysis, effective pathways are identified for institutional investors of different size assets under management (AUM) to access renewable energy infrastructure. This will see institutional investors embracing critical investment issues as well as environmental and social issues in their investment strategies going forward.

Originality/value

This paper is the first published empirical research analysis on the performance of renewable energy infrastructure at a global level. This research enables empirically validated, more informed and practical decision-making by institutional investors in the renewable energy infrastructure space. The ultimate aim of this paper is to articulate the potential strategic role of renewable energy infrastructure as an important infrastructure sector in the institutional real asset investment space and to identify effective pathways to achieve this renewable energy infrastructure exposure, as institutional investors focus on the strategic issues in reducing global carbon emissions in the context of increased global warming.

1 – 10 of 101