Abstracts for Vol.
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A Survey of Pension Fund Real Estate Portfolio Risk Management Practices Marc A. Louargand Institutional real estate investment primarily pension reserve assets grew rapidly in the 1980s. This paper reports the results of a study conducted in mid-1990 that surveyed the 426 largest institutional portfolios on portfolio management practices relating to diversification strategies, risk measurement, and evaluation of investment returns. The survey replicated several measures gathered by Webb in a 1983 survey to assess the rate of acceptance or utilization of ideas and techniques in the portfolio management community. Results indicate that change is perhaps slower than might be expected. Risk-adjustment techniques have changed to the extent that portfolio managers have a greater likelihood of using sensitivity analysis, but few other innovations are widespread.