Direct and Indirect Investment for International Diversification
Direct and Indirect Investment for International Diversification
Direct and Indirect Investment for International Diversification
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Option 3: Listed/public property company securities<br />
“REITs”<br />
Conventional listed corporations<br />
Real Estate <strong>Investment</strong> Trusts<br />
• Property owning vehicle<br />
• Lower dividend yield<br />
• Distributes 80% - 100% of taxable income<br />
• High dividend yield<br />
• Limited ability to generate reserves <strong>for</strong> investment<br />
• Country opportunities<br />
‣ North America – US <strong>and</strong> Canada<br />
‣Europe – Belgium, Netherl<strong>and</strong>s, France, shortly UK<br />
<strong>and</strong> Germany<br />
‣Australasia – Australia, Singapore, Japan, Hong Kong<br />
• Higher correlation with general equities<br />
Positives<br />
• Established benchmarks<br />
• Liquidity<br />
• Transparency<br />
• <strong>Investment</strong> period: immediate<br />
Negatives<br />
• Influence of general equity markets<br />
• Relatively immature market in some<br />
countries
Change language