IIJournals JPM-Special Real Estate Article Collection | Page 3

EXHIBIT 1
Annualized Returns, to Q2 2013

Source: NCREIF, IPD, Thomson Reuters Datastream.

large part, to past research), the focus has turned to
other, more specific questions.
In large part, the major research issues currently
surrounding the asset class can be placed into two
categories. The first category includes more detailed
analysis on real estate as an asset class. This research
examines new ways to look at risk–return characteristics,
strategic allocations under different circumstances, and
allocation management issues, such as risk