Toward a Well-Balanced Portfolio
Which approach toward diversification is best? By property type? By geography? By investment characteristics? Or by all of the above? I'm not aware of any definitive statistical evidence suggesting that one approach is better than another. As the significant expansion in size of the REIT industry has been fairly recent, there's not enough history to guide us, nor are there, to my knowledge, any academic studies regarding this issue. And few REIT mutual funds are willing to place themselves in a particular style box. While there's no agreement on how to diversify, there is almost universal agreement on the need to diversify.
Although REIT investors shouldn't ignore the concerns expressed by industry observers from ...
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