ALIGNMENT OF INTEREST IN NON-LISTED REAL ESTATE FUNDS - FEE STRUCTURE AND ITS IMPACT ON REAL ESTATE FUND PERFORMANCE

2010 ◽  
Keyword(s):  
Real Estate ◽  
Fund Performance ◽  
Fee Structure

Assessing the Impact of Real Estate on Target Date Fund Performance

2013 ◽  
Vol 39 (6) ◽  
pp. 144-155 ◽  
Author(s):  
Dave Esrig ◽  
Susan Kolasa ◽  
Luigi Cerreta
Keyword(s):  
Real Estate ◽  
Fund Performance ◽  
Target Date ◽  
The Impact

International Real Estate Review

2012 ◽  
Vol 15 (1) ◽  
pp. 127-139
Author(s):  
Yao-Min Chiang ◽  
Keyword(s):  
Numerical Analysis ◽  
Real Estate ◽  
Moral Hazard ◽  
Closed Form ◽  
Private Firm ◽  
Pricing Model ◽  
Fee Structure ◽  
Incentive Problems ◽  
The Relationship ◽  
Bot Project

The relationship between a government and a franchise firm in a build-operate-transfer (BOT) project is one that is wrought with incentive problems. It is well known that a contingent payment structure can help alleviate moral hazard problems. This paper provides a flexible franchise fee scheme from the perspective of a government which can charge a sufficient franchise fee and provide enough incentive for a private firm in a BOT project. This flexible franchise fee structure has option- like properties. A pricing model is derived in this paper to price this flexible franchise fee scheme. The closed-form pricing model that I have provided in this paper can help evaluate the effect of a flexible franchise fee on the performance of BOT projects. A numerical analysis shows that the proposed flexible franchise fee scheme is especially suitable for BOT projects with long investment horizons and revenue uncertainty.

scholarly journals Manager Tenure - Real Estate Mutual Fund (REMF) Versus Equity Mutual Fund Performance

2012 ◽  
Vol 11 (1) ◽  
pp. 17
Author(s):  
James L. Kuhle
Keyword(s):  
Real Estate ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Fund Performance ◽  
Font Size ◽  
Mutual Fund Managers ◽  
Fund Managers ◽  
Equity Mutual Funds ◽  
Overall Performance ◽  
Real Estate Assets

<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none;" class="MsoNormal"><span style="font-size: 10pt; mso-bidi-font-style: italic;"><span style="font-family: Times New Roman;">Historically, mixed evidence has been reported suggesting that mutual fund managers exhibit superior returns based on the length of their tenure.<span style="mso-spacerun: yes;"> </span>Further, the result of tenure performance for real estate mutual fund managers has been reported with mixed results.<span style="mso-spacerun: yes;"> </span>Therefore, it is the purpose of this research to consider the effect of management tenure on the overall performance of various classes of equity mutual funds, including those funds that invest exclusively in real estate assets. These results are studied over periods of three, five, and ten-year manager tenure to determine if there is significantly better performance among various tenure groups. </span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>

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