1.Driversofriskandreturn–Seldomarelistedandunlistedcounterparts equal,orevensimilar,intermsofreturnsto‘beta’exposure.Intheshort run,thelistedformisoftendrivenbyequitymarketfluctuationsratherthan theunderlyingasset.Meanwhile,reportedreturnsforunlistedassetsreflect ...
features Fig 1: Comparison pricing of REITs vs. Unlisted Funds 2006-2011 20.00% Comparison of Listed vs Unlisted Real Estate Pricing 10.00% 0.00% Correlation 06 - Oct 09 = 81% -10.00% -20.00% -30.00% -40.00% -50.00% Shopping Centres Offices EPRA UK Disc to Nav Source: JLL, Macquarie ...
Consequently, it makes sense to assume that businesses with specific political connections might find it easier to get approved for private placements. This idea is attested byYang et al.(2016). They found that these unlisted companies had a higher private placement success rate than unaffiliated ...