Real Estate Investment Management

InvestorsFfrom The Moon: Fama
Interview With Eugene Fama
December 2015

 

A highlight of the Fiduciary Investors Symposium at Chicago Booth School of Business was an intimate Q&A session with the “Father of Modern Finance” and Nobel Laureate, Eugene F. Fama.

Fama, who is the Robert R. McCormick Distinguished Service Professor of Finance at the Chicago Booth School of Business, believes that because markets are efficient, investors should not pay to try and beat the market. He’s surprised that the industry has not adopted passive management more than it has, despite 50 years of data evidence.

He talks candidly alongside Top1000funds.com editor Amanda White and John Skjervem, chief investment officer of Oregon State Treasury, about active management, academic progress, the three-factor model, and efficient markets.

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Preqin Quarterly Update – Real Estate, Q3 2015
Preqin
October 2015

The Prequin Quarterly update provides a snapshot of global unlisted real estate investing activity including:

  • Fundraising in Q3 2015
  • Funds in Market
  • Dry Powder
  • Institutional Investors in Private Real Estate
  • Fund Performance
  • Real Estate Secondaries

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Strategic Partnerships
Leigh Gavin – Frontier Advisors
October 2015

Strategic partnerships between investment managers and clients continue to increase in popularity worldwide. Although the rationale for doing so varies, there are obvious synergies that can be created from setting up strategic partnerships that stand to benefit asset owners and asset managers. However, they require a change of mindset in many ways. It’s been hard to ignore an increasing trend among Australian institutional investors in launching (or at least discussing) strategic partnerships with their fund managers. The reasons for this are varied; but extracting intellectual property (I.P.), reducing fees and reducing the number of manager relationships; are three commonly quoted and perfectly valid reasons.

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What Is Real Estate Investment Management Becoming?
NAREIM
June 2015

The real estate investment management industry stands at an interesting point in its history. After a couple of decades’ success putting the aggregated capital of pension plans, endowments, family offices & sovereign wealth funds to work in commercial real estate investments, many of the assumptions that established this sector are evolving. The economy, capital, risks, tenants, technology, and process are moving in new and unfamiliar ways. This may transform real estate investment management…but it is still difficult to clearly understand what we are about to become. As André Gide observed so eloquently, we will discover it—but only if we dare to sail away of our assumptions. Amidst this time of uncertainty, change, and commensurate anxiety, the 2015 NAREIM 20/20 Investor Summit engaged over fifty thought leaders from across real estate and investment management to engage in four discussions over the span of twenty-four hours. Whether considering the state of the market, risk, operations or new technology, each discussion was designed to provoke thought and introduce new ideas about where we are going and how best to lead the future of real estate investment management.

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Asset Management 2020 – A Brave New World PWC
2014

Amid unprecedented economic turmoil and regulatory change, most asset managers have afforded themselves little time to bring the future into focus. But the industry stands on the precipice of a number of fundamental shifts that will shape the future of the asset management industry. To help asset managers plan for the future, PWC have considered the likely changes in the asset management industry landscape over the coming years and identified key game-changers which will impact the competitive environment.

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