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Direct and Indirect Investment for International Diversification

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Option 1: <strong>Direct</strong> property ownership<br />

Products<br />

• Domestic<br />

• Collection of national portfolios<br />

• Regional portfolios<br />

• Global portfolio<br />

Positives<br />

• Maximum diversification benefits<br />

• Maximise control<br />

• National benchmarks<br />

Negatives<br />

• Scale, specific risk / portfolio size<br />

• No global or regional benchmarks<br />

• Low liquidity<br />

• Management<br />

• Administration<br />

• Tax <strong>and</strong> legal

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