Posts Tagged ‘ Real Estate ’
European Green Deal: Towards a Zero-Carbon Urban Environment (Part 4)
Dec 3rd, 2020 | Filed under: Real Estate, Infrastructure, Newly Added, Socially responsible investing, Alternative energy, Operationally Intensive Real Assets, Alternative Investments in Context, ESG, Climate change, Emerging Alternative Investments, Private Investments, Real Assets, SRI and Clean EnergyPart 4: Real Estate Developers: Hostage of Trophy Hunting Investors & Certification Standards? By Christos Angelis, CAIA – Director at Masterdam This is the fourth article in this series. Please read Part 1, Part 2 and Part 3. THE RELEVANCE OF THE EUROPEAN GREEN DEAL FOR DEVELOPERS Real estate development in the EuropeanRead More
Assessing the Impact of COVID-19 Across Real Estate Sectors
Nov 1st, 2020 | Filed under: Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Real Estate Equity Investments, Real Assets
By Wu Guowei Jack, CFA – Director of Content, APAC at CAIA Association The COVID-19 pandemic has had a devasting toll on human life, and has impacted economies and industries globally. The effect on real estate is significant, as real estate can be considered a service sector that fulfills end-userRead More
India: An Alternative Investment Industry Growth Story
Sep 27th, 2020 | Filed under: Real Estate, Industry Size & Managers, Newly Added, CAIA Alternative Viewpoints, Alternative Investments in Context, Hedge Funds, Private Investments
By Shreekant Daga, CAIA, CFA, FRM – Associate Director of Industry Relations, India at CAIA Association & Guowei Jack Wu, CFA – Director of Content, APAC at CAIA Association Through August-September 2020, CAIA Association hosted a 10-part educational webinar series titled 10 Lessons in Finance. The event brought together academics fromRead More
Missed Rents’ Impact on Real Estate
Sep 24th, 2020 | Filed under: Real Estate, Newly Added, Real Estate Equity Investments, Real AssetsBy Niel Harmse & Bryan Reid of MSCI Real Estate Lockdowns and social distancing have impacted many tenant businesses, resulting in an unprecedented number of requests for rental relief, stressing real estate rental income streams. For equity investors, income returns have weakened, despite softening asset values. Recent income returns mayRead More
EUROPEAN GREEN DEAL: TOWARDS A ZERO-CARBON URBAN ENVIRONMENT
Aug 20th, 2020 | Filed under: Newly Added, Socially responsible investing, The Global Economy & Currencies, Alternative Investments in Context, ESG, Economics, Climate change, Macroeconomics, SRI and Clean Energy, Finance & Economics, Other Topics in A.I.Part 1 of a multi-part series: The Role of the EU, National Governments & Local Authorities By Christos Angelis, CAIA – Director at Masterdam INTRODUCTION In light of the exciting developments in the European Union regarding the European Green Deal (EGD)[1] presented in the end of 2019, it would beRead More
Diversification Strikes Back!
Mar 13th, 2020 | Filed under: Real Estate, Private Equity, Hedge Fund Strategies, Newly Added, Asset allocation, CAIA Alternative Viewpoints, Asset Allocation Models, Institutional Asset Management, Real Estate Equity Investments, Risk Management Strategies & Processes, Hedge Funds, Private Investments, Real Assets, Allocating to A.I.By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association, and Keith Black, PhD, CFA, CAIA, FDP, Managing Director, Content Strategy at CAIA Association “Diversification is back” – now that’s not a phrase we’ve heard in a long time…long time. Considering recent market performance, we thought thatRead More
Real Assets ‘Inception:’ Diversification within Diversification
Feb 27th, 2020 | Filed under: Consultants, Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Institutional Investing, Risk management, Asset allocation, Natural Resources and Land, CAIA Alternative Viewpoints, Asset Allocation Models, Operationally Intensive Real Assets, Endowments & Foundations, Institutional Asset Management, Real Estate Equity Investments, Risk Management Strategies & Processes, Real AssetsBy Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association Excerpted from the Alternative Investment Analyst Review, Volume 8, Issue 1 The Alternative Investment Analyst Review is the official publication of the CAIA Association. Access to the most current issue is an exclusive benefit of CAIA MembershipRead More
Considering Investing in Qualified Opportunity Funds? Caveat Emptor
Dec 25th, 2019 | Filed under: Real Estate, Newly Added, Qualified Opportunity Zones, Other Issues in Private Investments, The A.I. Industry, Real Estate Equity Investments, Private Investments, Real Assets, Other Topics in A.I.By David O’Brien, CFP, CAIA The Opportunity Zones Program, enacted as part of the Tax Cuts and Jobs Act of 2017, has great potential to create jobs and spur economic growth while creating a potentially powerful tax strategy for investors and asset managers. The Opportunity Zone Program is designed toRead More
More ‘Greater Fools’ After WeWork
Nov 14th, 2019 | Filed under: Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, Business News, The A.I. Industry, Private InvestmentsThe term “greater fool theory” refers to the many circumstances in which speculators buy a (potentially) productive asset, basing their buy decision not on the asset’s operational value, but on the notion that there is a “greater fool” out there who will pay even more. The term refers, then, toRead More
The Case Against REITs
Nov 9th, 2019 | Filed under: Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Other Issues in Private Investments, The A.I. Industry, Real Estate Equity Investments, Real AssetsBy Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION Surveys often reveal investor behaviour that is challenging to understand. For example, Preqin’s Alternative Investor Outlook for H2 2019 highlighted the following: 65% of institutional investors believe that real estate is overvalued and a correction likely to occur in 2019, 2020, or beyond.Read More
Real Estate Investing: From Farmland to Berlin
Aug 18th, 2019 | Filed under: Real Estate, Agriculture, Liquid and Fixed Income Real Estate, Newly Added, Farmland, Natural Resources and Land, Other Issues in Private Investments, The A.I. Industry, Real Estate Equity Investments, Private Investments, Real AssetsA new study from Nuveen looks at how to assess properly the value of real estate and farmland. There are four key points: That a “doubleness” of vision is necessary. You need to take a macro view of the investment world and a micro view of the farms and otherRead More
The Illiquidity Premium and the Market for Private Assets
Apr 14th, 2019 | Filed under: Real Estate, Private Equity, Debt Types of Private Equity, Liquid and Fixed Income Real Estate, Newly Added, Asset allocation, Equity Types of Private Equity, Asset Allocation Models, Other Issues in Private Investments, Operationally Intensive Real Assets, The A.I. Industry, Real Estate Equity Investments, Private Investments, Real Assets, Finance & EconomicsThe illiquidity premium is one of the most frequently discussed and hotly disputed subjects in financial economics. Speaking broadly, an investment is not a checking account. One generally cannot just “get the cash back” at a moment’s notice, by visiting some equivalent of an ATM. How long will it takeRead More
Striking the Right Balance: Investing in Real Assets
Apr 11th, 2019 | Filed under: Infrastructure, Liquid and Fixed Income Real Estate, Newly Added, Natural Resources and Land, Operationally Intensive Real Assets, The A.I. Industry, Real AssetsIn creating the real assets portion of a portfolio, investors should consider several risk factors, such as the sensitivity of certain assets to inflation, interest rate changes (duration risk), or the continued availability of finance (illiquidity risk). In a recent publication, Mercer, the world’s largest institutional investment advisor, explains howRead More
Alternative Real Estate Shows Attractively
Mar 28th, 2019 | Filed under: Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Operationally Intensive Real Assets, The A.I. Industry, Real Estate Equity Investments, Real AssetsPricewaterhouseCoopers, the London-based professional services network, in conjunction with the Urban Land Institute, has prepared a report on ongoing trends in real estate, which sheds some light on the attractions of alternative real estate. The background to the report is the continued and intensifying consensus that a recession is nigh,Read More
Pensions and Real Estate: CEM Benchmarking
Oct 11th, 2018 | Filed under: Real Estate, Newly Added, Institutional Investing, Asset allocation, Asset Allocation Models, Operationally Intensive Real Assets, The A.I. Industry, Institutional Asset Management, Real Assets, Allocating to A.I.A new paper by Alexander D. Beath and Chris Flynn examines the significance of real estate investing within the portfolios of large European institutional investors from 2005 to 2016. Beath is a senior research analyst with CEM Benchmarking, with a PHD. from McGill University on condensed matter and materials physics.Read More
Intralinks/Global Fund Media Survey of LPs Shows Satisfaction
Sep 25th, 2018 | Filed under: Real Estate, Private Equity, Debt Types of Private Equity, Liquid and Fixed Income Real Estate, Newly Added, Institutional Investing, Equity Types of Private Equity, High-net-worth investors, Other Issues in Private Investments, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Real Estate Equity Investments, Family Offices, Hedge Funds, Private Investments, Real Assets, Allocating to A.I.Intralinks has once again collaborated with Global Fund Media in a survey of limited partners on their satisfaction with recent results and on how they see global investment opportunities near-term. As to satisfaction: 18% of LPs say that their results from alternative investments have been better than they expected. ARead More
(IRR)ational Aggregation
Sep 10th, 2018 | Filed under: Real Estate, Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, What about beta?, Real Estate Equity Investments, Private InvestmentsBy Bill Kelly, CEO, CAIA Association Many of us have had the experience of buying a home and often turn to the bank to provide some level of secured funding for that purchase. Banks, of course, require documentary evidence for the value of their collateral which, invariably, results in a market-based appraisal process resultingRead More
Pension Funds, ‘Tilt,’ and Underperformance
Jul 1st, 2018 | Filed under: Performance, Analytics & Metrics, Newly Added, Institutional Investing, Benchmarking & Performance Attribution, Institutional Asset Management, Allocating to A.I.Christina Atanasova and Gilles Chemla have posted a discussion of pension plans,where holdings show a tilt toward private equity and real estate investments. Atanasova is associate professor of finance, Beedie School of Business, Simon Fraser University in Burnaby, BC, Canada. Chemia is professor of financial at Imperial College Business School, London,Read More
KPMG on Real Estate Funds
May 17th, 2018 | Filed under: Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Real Estate Equity Investments, Real Assets, Risk Management & OperationsThe outsourcing of fund administration tasks in real estate is not a new idea. But, as KPMG says in a new paper, the marketplace has been slow to take the administrators up on their offerings. So it may still be the wave of the future even though it has aRead More
The Realities of Real Assets
Apr 3rd, 2018 | Filed under: Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Real Estate Equity Investments, Real AssetsA London-headquartered specialist consultant, bFinance, has prepared a report on the trends that have emerged over the last decade in the way both investors and managers think about the real assets in portfolios. There are, the paper says, three trends at work. First, investors are becoming both more sophisticated andRead More
KPMG’s Report Cards on Real Assets
Jan 23rd, 2018 | Filed under: Real Estate, Infrastructure, Liquid and Fixed Income Real Estate, Newly Added, Institutional Investing, Natural Resources and Land, Operationally Intensive Real Assets, Institutional Asset Management, Real Estate Equity Investments, Real AssetsKPMG has posted a new paper looking at the role of real assets (defined as “anything where there is a tangible/physical asset being traded”) within a portfolio, with a focus on opportunities for U.K. based institutional investors, especially pension schemes. It begins with a brief survey of the field. RealRead More
Real Estate Tops the Willis Alternative Investment League Table
Aug 10th, 2017 | Filed under: Industry Size & Managers, Newly Added, The A.I. Industry, Hedge FundsWillis Towers Watson (NASDAQ: WLTW) recently posted its Global Alternatives Survey. WLTW is a consultancy with a long history, roots going back to 1828, and that now has 40,000 employees serving clients in 140 countries. The gist of its new report is that the alternatives asset industry has grown toRead More
Real Estate: A Global Outlook
Jul 13th, 2017 | Filed under: Infrastructure, Newly Added, Operationally Intensive Real Assets, Real AssetsPWC and the Urban Land Institute have jointly issued a report on “emerging trends in real estate” around the globe, which stresses that real estate’s attraction as an investment, even as a cross-border investment, has held up notwithstanding unprecedented levels of concern about geopolitics. The “global drift back to domesticRead More
EY on Real Estate Private Equity Trends
Feb 5th, 2017 | Filed under: Real Estate, Newly Added, Equity Types of Private Equity, Other Issues in Private Investments, Real Estate Equity Investments, Private Investments, Real AssetsThe global real estate division of financial consultancy Ernst & Young recently published a report on the private equity outlook in the real estate space. As the head of the division, Mark Grinis, says in an introduction, the premise of the report is that success in this space requires managerialRead More
Study Says Pensions May Be Looking for Returns in the Wrong Places
Aug 7th, 2016 | Filed under: Alpha & Beta, Newly Added, Real Estate Equity Investments, Private Investments, Allocating to A.I.Alex Beath, senior research analyst at CEM Benchmarking, the Toronto-based pension research firm, has produced a white paper on the pension fund performance in the U.S. since 1998, and the news he brings is not good (for pension funds themselves, or for the hedge funds to which they have allocatedRead More
Real Estate: Footloose Money Chasing Cross-Border Deals
Feb 2nd, 2016 | Filed under: Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Real Estate Equity Investments, Real AssetsSavills, a global real estate services provider listed on the London Stock Exchange, has released its annual report on the role that real property plays in the investment world. Here are some of its key points: Real estate assets constitute 60% of the value of all assets worldwide; Residential realRead More
An Overview of Real Asset Investing
Aug 26th, 2015 | Filed under: Real Estate, Private Equity, Infrastructure, Risk management, Intellectual PropertyGuest columnist Andrew Smith, CAIA, provides an overview of real assets and their commensurate risks and rewards.Read More
Does Private Real Estate Actually Have a Low Correlation with Public Real Estate?
Mar 15th, 2015 | Filed under: Real Estate, Private Equity, Institutional Investing, Alpha Hunters, Alpha StrategiesBrad Case, Ph.D., CFA, CAIA, looks at the relationships between public and private real estate.Read More
Focus on U.S. Real Estate Benchmarks: NCREIF Property Index
Jan 4th, 2015 | Filed under: Real Estate, Alpha Hunters, Alpha Strategies, IndexesBrad Case, Ph.D., CFA, CAIA, guest columnist, continues his series on U.S. real estate benchmarks as he looks at the NCREIF Property Index.Read More
Preqin: Investor Interest in Real Estate Revives
Sep 18th, 2012 | Filed under: Real EstateThe good news from the Preqin survey is that 37 percent of the interviewees said they expect to deploy more capital to real estate over the next 12 months than they did over the last 12 months. The better news is that in a January 2012 survey only 26 percent had said that. Read More
McKinsey: Allocations Will Rise Despite Sticky Fees
Jul 31st, 2012 | Filed under: Real Estate, Private Equity, Alpha Strategies, Asset allocationThe reason for the increased interest in alternatives, McKinsey says, isn’t that the alternatives’ managers are slashing the price of their services. It is, rather, a discontent with the return to be gained from traditional investment. “Even with downward pressure likely over the next few years, revenue yields for institutional alternative products should remain well above the 35 bps average earned on today’s traditional institutional products.” Read More
Alpha Hunters: Investing in Urban Communities
Jun 18th, 2012 | Filed under: Real Estate, Socially responsible investingK. Robert "Bobby" Turner has overseen more than $12 billion of investment into urban communities (with partners including Magic Johnson and Andre Agassi), find out why..Read More
Alpha Hunters: Looking at Alternative Investments From the Inside Out
Jun 7th, 2012 | Filed under: Hedge Fund Industry Trends, Real Estate, Private Equity, Hedge Fund Strategies, CTA, Derivatives, Institutional Investing, Alpha Hunters, Alpha Strategies, Venture capital, ForexA deeper look at alternatives with Dr. Bob Swarup, a world-renowned expert and commentator on alternatives and financial markets as well as being a visiting fellow at London School of Economics.Read More
U.S. Rejoins the Globe, Say Consultants
Mar 28th, 2012 | Filed under: Hedge Fund Industry Trends, Real Estate, Private Equity, CTA, Institutional Investing, Alpha StrategiesConsultants expect that managers' need to generate steady income in a low interest rate environment will drive a lot of portfolio turnover in 2012, inclusive of the movement of alternatives into core positions within portfolios, and it will drive one-time U.S. focused investors and managers to look abroad. Meanwhile, pensions are retreating toward passive mandates. Read More
Preqin: Real Estate Funds Turn to Debt Strategies
Feb 5th, 2012 | Filed under: Real Estate"Farhaz Miah, of Preqin, sets out the numbers for private real estate fundraising in 2011, showing that the market continues to suffer from the impact of the 2008 crisis. He notes, also, that debt strategies have become increasingly popular, both in specifically debt-strategy funds and in opportunistic funds that employ debt strategies as part of a broader structure."Read More