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Discussion note on the diversification potential of real estate

6 November 2015

Norges Bank Investment Management has published a discussion note reviewing various aspects of private real estate investments seen in the perspective of a multi-asset portfolio held by a long-term investor.

The paper focuses on return and risk characteristics of direct equity investments in commercial real estate, and draws heavily on findings in academic literature. The conclusions are based on findings in published academic research.

Go to the discussion note