Showing 3401 - 3410 of 3,415 entries
Research PaperIndustrial in the Limelight: Secular Shift or Cyclical Rotation?
In 2017, industrial real estate had the highest sector total returns across many global markets. We have found that this was not just a rerun of industrial’s normal cyclical rotation, but that there were signs of a secular revolution starting, driven by e-commerce. In many global markets, the spread in yields between industrial and the other commercial real estate sectors has compressed more over recent years than in previous cycles. In the U.K., where outperformance was particularly...
Research PaperScenarios, Stress Tests and Strategies for First Quarter 2016
The central scenario inferred from markets has evolved this quarter to one where investors expect economies to muddle through global uncertainty but with heightened worries about the effectiveness of monetary and fiscal policies. Adverse and positive scenarios for the year reflect the following themes: The tension between growth and deleveraging The effectiveness of unconventional monetary and fiscal policies The assessment of the windfalls or dangers of lower oil prices; and The...
Research PaperEvaluating Opportunities in Active Management
Despite institutional investors, globally, continuing to allocate funds to indexed strategies, active management remains attractive across various products and geographies. The ability to select skilled managers in opportune markets who can add value beyond a indexed investment tracking an index, may justify the case for active implementation. We analyze different segments of the equity markets to find the intersection of those that have provided the greatest opportunity and where managers...
Research PaperUK Shopping Centres Investment Report 2015
This report details both the performance of shopping centre assets and what has been happening in the transactional market through 2015, an exceptional period for this sector. MSCI currently tracks over circa £13.5bn of shopping centre assets across the UK and is proud to present an in-depth analysis of this sample. This report is prepared by MSCI, in association with Colliers International.
Research PaperListed and Private Real Estate : Putting the pieces back together
A Study of the Drivers of European Listed Real Estate Performance in Association with the European Public Real Estate Association.
Research PaperReal Estate Snapshot 2017
In this inaugural edition of our Research Snapshot, you will read about topics that are trending across the globe. Is your real estate portfolio resilient enough? Can real estate benefit from smart beta? Are low yields a risk for your private real estate portfolio?
Research PaperPerformance–Studie Immobilien–Spezialfonds
Die Performance-Studie Immobilien-Spezialfonds dient der Erhöhung der Transparenz in der Assetklasse Immobilien-Spezialfonds. Dieser Ansatz betrifft zum einen Trends bei Anzahl und verwaltetem Vermögen der Kapitalverwaltungsgesellschaften, zum anderen Rendite und Risiko der nach deutschem Recht aufgelegten Spezialfonds. Die Studie beruht auf Daten zu mehr als 190 Fonds (zu Q3 2015 174 Fonds) von mehr als 30 Kapitalverwaltungsgesellschaften bzw. Fondsmanagern, die zum Ende des dritten...
Research PaperResearch Insight - Backtesting Risk Models: 2014 Year in Review - February 2015
This 2014 Year in Review reports the results of one-year backtests using four types of simulation models available in RiskManager: Monte Carlo Historical Filtered historical Weighted historical The models were tested on 10 indexes, representing different segments of US and global equity and bond markets. Along with Value at Risk (VaR), we have extended the 2014 Year in Review to include a formal backtest of Expected Shortfall (ES), based on a framework recentlydeveloped by MSCI, and...
Research PaperBuilt to Last - Two Decades of Wisdom on Emerging Markets Allocations
The last decade has seen a prolific increase in approaches to emerging markets investing. Broad emerging markets exposure is increasingly viewed as an integral part of a global equity allocation alongside developed markets. The acronym style of emerging markets investing has also come forth (including BRIC, N-11, CIVETS, MIST, etc.), seeking more targeted exposure within emerging markets. We explore this wide array of emerging markets mandate configurations and implementation options.
Research PaperUK Lease Events Review – November 2017
MSCI, along with BNP Paribas Real Estate and the BPF, have long pursued a thorough understanding of UK leasing activity through real estate investment research. This research focuses on two distinct elements; new leasing trends in the marketplace and the effect on income when a lease event, such as a break or expiry, occurs. Such an understanding has grown in importance through the recent market cycle as tenant default weighed on landlord incomes and shorter lease lengths...