Does real estate fund in Thailand provide diversification benefits for stock investment?
Does real estate fund in Thailand provide diversification benefits for stock investment?
Published date
2016
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Assumption University
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1686-0039
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eng
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application/pdf
Extent
8 pages
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Assumption University. Martin de Tours School of Management and Economics
Citation
AU Journal of Management 14, 2 (July-December 2016), 26-33
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Abstract
The real estate investment has been an alternative investment as a diversifier for traditional investment like the stock market. Previous studies have shown the diversification benefits of real estate investment for stock portfolios. This paper aims to examine whether and to what extent real estate funds can provide diversification benefits to investors. The information of stock returns and real estate funds in Thailand was gathered for the period during 2007 and 2015. The results show that there is no diversification benefit in terms of hedge or safe haven from real estate funds in Thailand. However, the average beta of real estate funds is relatively low and the risk-return performance of real estate funds remains attractive to be included in the portfolio.
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In English ; only abstract in English.
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