The dynamic of linkages of Islamic REITs in mixed-asset portfolios in Malaysia

摘要: Islamic REIT (I-REITs) were introduced to the Malaysian stock market approximately ten years ago. This paper assesses dynamic linkages by using Granger causality test of I-REITs. The study period is from 2008 2014. concentrates on comparisons between I-REITs and conventional REITs (C-REITs) provides a better overview both asset classes. A Cointegration Test determined that mixed-asset portfolio cointegrated shows less diversification benefits portfolios. results has identified industry can cause I-REITs’ returns change. further confirms have good potential diversify within any classes, including shares bonds.