exists differ substantially. This article compares risk and returns for regular and lump-sum investors for all possible … risk of negative returns disappears for horizons that are six years shorter. Increasing contributions deteriorate risk and …

This research contributes to a better assessment of risk factors impacting non-listed real estate fund returns. Both … macroeconomic risk factors although our analyses suggest that non-listed real estate is more akin to direct real estate than it is …

containing varying proportions of gateway and non-gateway markets. Risk-adjusted performance is found to be similar across types … returns even after accounting for capital expenditures. Downside risk appears to be slightly greater for gateway markets than … risk is found to be constant across types of markets. We show that discriminating between gateway and non-gateway markets …