The role of Taiwan REITs in investment portfolios

Hsu Wen Peng, Graeme Newell

    Research output: Contribution to journalArticlepeer-review

    11 Citations (Scopus)

    Abstract

    REITs in Taiwan (T-REITs) have been an important property investment vehicle in Taiwan since 2005. This paper assess the significance, risk-adjusted performance and portfolio diversification benefits of T-REITs in a mixed-asset portfolio in Taiwan over 2005-2011. Whilst T-REITs under-performed the construction shares sector in Taiwan, they provided portfolio diversification benefits, with enhanced risk-adjusted returns, enhanced diversification benefits and a significant role in the mixed-asset portfolio in the post-GFC period. The key strategic issues for the ongoing strategic development of the T-REIT market are identified; particularly relating to the size and growth opportunities for T-REITs.
    Original languageEnglish
    Pages (from-to)67-80
    Number of pages14
    JournalPacific Rim Property Research Journal
    Volume18
    Issue number1
    Publication statusPublished - 2012

    Keywords

    • Asia
    • Global Financial Crisis, 2008-2009
    • Taiwan
    • portfolio diversification
    • real estate investment
    • real estate investment trusts

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