We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Alternatives: How? How Much? Why?
- Authors
ESTRADA, JAVIER
- Abstract
Alternatives have become an important asset for institutional investors, and more recently also for individual investors. Many alternatives are easily investable nowadays, and the focus of this article is on two of the most widely used, namely, gold and real estate investment trusts (REITs), representing exposure to commodities and real estate. The evidence in this article shows that these alternatives 1) belong to the optimal portfolios of investors under very different optimization criteria, 2) generally increase risk-adjusted returns given three different definitions of risk, and 3) are more effective at reducing risk than they are at enhancing returns.
- Subjects
INSTITUTIONAL investors; STOCKHOLDERS; ASSETS (Accounting); REAL estate investment trusts; REAL property; INVESTORS
- Publication
Journal of Wealth Management, 2016, Vol 19, Issue 3, p49
- ISSN
1534-7524
- Publication type
Article
- DOI
10.3905/jwm.2016.19.3.049