The Effectiveness of A-Reit Futures as a Risk Management Strategy in the Global Financial Crisis
Year: 2010
Type: article
Abstract: A-REITs have been highly successful indirect property investment vehicles in Australia. However, the global financial crisis has had a significant impact on the performance of A-REITs in 2007-09. A-REIT futures were also established on the Australian Stock Exchange (ASX) in August 2002. This paper assesses the performance and trading of the A-REIT futures market over August 2002 - November 2009; particularly highlighting their significantly increased role by institutional investors during the global financial crisis. Using a number of scenarios, these A-REIT futures are also assessed for their effectiveness as a risk management strategy for institutional investors for hedging their A-REIT exposure during the volatility of the global financial crisis.
Author: Graeme Newell
Institution: Western Sydney University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W2137752679