TY - JOUR
T1 - The role of U.S. farmland in real estate portfolios
AU - Newell, Graeme
AU - Eves, Alfred C.
PY - 2007
Y1 - 2007
N2 - Farmland is seen as a long-term investment that receives investor attention in many countries and potentially provides added value in a mixed-asset portfolio. Using the National Council of Real Estate Investment Fiduciaries (NCREIF) farmland series, this paper analyses the risk-adjusted performance and portfolio diversification benefits of farmland in the United States over the 1984-2006 period. Recent years have seen significantly enhanced returns for U.S. farmland, with a slight reduction in risk; however, there has been some loss of portfolio diversification benefits for farmland with stocks and real estate.
AB - Farmland is seen as a long-term investment that receives investor attention in many countries and potentially provides added value in a mixed-asset portfolio. Using the National Council of Real Estate Investment Fiduciaries (NCREIF) farmland series, this paper analyses the risk-adjusted performance and portfolio diversification benefits of farmland in the United States over the 1984-2006 period. Recent years have seen significantly enhanced returns for U.S. farmland, with a slight reduction in risk; however, there has been some loss of portfolio diversification benefits for farmland with stocks and real estate.
KW - United States
KW - farms
KW - real estate investment
UR - http://handle.uws.edu.au:8081/1959.7/487899
UR - http://proquest.umi.com/pqdweb?index=9&sid=1&srchmode=3&vinst=PROD&fmt=6&startpage=-1&clientid=8429&vname=PQD&RQT=309&did=1411149491&scaling=FULL&ts=1272497608&vtype=PQD&aid=1&rqt=309&TS=1272497618&clientId=8429
M3 - Article
SN - 1083-5547
JO - Journal of Real Estate Portfolio Management
JF - Journal of Real Estate Portfolio Management
ER -
