We respond to repeated calls over the years to further develop cluster theory specifically in an African context. Our contribution is to construct a framework which integrates theories focusing on path dependency, transaction cost economics (efficiency and systemic interdependency models) and...

US institutional investors include asset classes in their portfolio for a number of reasons, including wanting to conform with industry norms, participate in a significant component of the investable universe, earn favorable returns, diversify the portfolio and provide a natural hedge against...

Starting with a complete lack of modern specified office property in 1990, the skylines of Warsaw, Prague and Budapest have undergone rapid transformations since the countries emerged from centrally-planned, command economic systems. In roughly 13 years time, real estate developers and builders...

Investors look at several factors when deciding whether or not to add an asset class to a mixed portfolio. This document outlines arguments as applied to global real estate securities and provides comments relative to the implications for mixed asset portfolio construction.