摘要: The listed property trust (LPT) sector has undergone considerable change in recent years, including increased levels of international property, debt, incorporating development activities via use stapled securities structures and a reduced number LPTs mergers acquisitions. By analysing LPT performance over 1993-2004, the changing risk profile is assessed. In 2003-04, there evidence risk, particularly sectors. correlations with stockmarket have also increased. This increasing for LPTs, whilst still off low base, sees reduction traditional defensive characteristics (ie risk) portfolio diversification benefits LPTs.
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