The Existence of Real Estate Investment Trusts (Reits) Needs by Institutional Investors at the Nairobi Stock Exchange
| dc.contributor.author | Michuki, Diana W | |
| dc.date.accessioned | 2012-11-13T12:36:57Z | |
| dc.date.available | 2012-11-13T12:36:57Z | |
| dc.date.issued | 2010 | |
| dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/handle/123456789/5569 | |
| dc.description.abstract | Real estate is an important investment asset class but it poses considerable problems for portfolio managers in valuing direct real estate investment. Real estate illiquid nature increases transaction costs yet it is assumed to be a safer asset for long term investment. Real estate can be purchased (direct investment) or the investment can take place through land held by listed or unlisted companies (indirect investment). REITs are the only truly liquid assets related to real estate investment. Indirect investment in real estate investment trusts (listed REITs) transforms the illiquid nature of direct real estate and offer more liquid investment vehicles thus forms part of a well diversified investment portfolio. Public REITs do not exist in Kenya. This study sought to investigate whether there exists REITs needs among institutional investors trading at Nairobi Stock Exchange. A sample of 30 institutional investors consisting of pension fund managers and unit trusts was used. The findings show that investors would invest in REITs if they were to be introduced at the exchange and therefore confirming that REITs needs do exist among institutional investors at the NSE. | en |
| dc.language.iso | en | en |
| dc.publisher | University of Nairobi, Kenya | en |
| dc.title | The Existence of Real Estate Investment Trusts (Reits) Needs by Institutional Investors at the Nairobi Stock Exchange | en |
| dc.type | Thesis | en |
