Assessing the Impact of Real Estate on Target Date Fund Performance
研究发现，过去四十年在目标日期基金中加入直接房地产投资，能显著改善参与者的风险调整后绩效，对养老金计划发起人和参与者有参考价值。
Defined benefit (DB) plans have used direct real estate in their asset allocations for forty years. Defined contribution (DC) plan sponsors are using the shift to asset allocation funds as an opportunity to do the same. We found that if direct properties were added to target date funds over the past four decades, DC participants in these funds would have experienced substantially improved risk-adjusted performance. <b>TOPICS:</b>Real estate, retirement, in portfolio management