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Title: Analysis of Singapore real estate investment trusts (S-REITs).
Authors: Liew, Jiun Bin.
Liew, Jiun Hua.
Chng, Eve Wei Yih.
Keywords: DRNTU::Business::Finance::Equity
Issue Date: 2009
Abstract: In this paper, we explore the performance of Singapore Real Estate Investment Trusts (S-REITs) relative to bonds and equities asset classes. The Sharpe Ratio was used as an indicator of risk-return efficiency to determine if S-REITs could be included into a typical portfolio of bonds and equities to provide diversification benefits. Results of our investigations revealed that the S-REITs indeed provided diversification benefits despite a slight deviation from the performance of REITs in other geographical regions. Of the factors that affected the risk-return efficiency of S-REITs, it was found that two main factors, namely, credit worthiness and earnings stability, had the most significant impact on S-REITs in maximizing their risk-return efficiency. However, investors should be aware that S-REITs have yet to undergo a full business cycle and the local market has yet to acquire a holistic view of the performance of S-REITs.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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