Examples of the use of
AJPI & AJFI
Example 3The use in the process of Real Estate Investment by institutional investors
The use in each process of the PLAN→Do→SEE→PLAN Cycle
- PLAN
- SAA (Strategic Asset Allocation) Allocation funds to real estate
-
In the process of planning
- What should the allocation to real estate be?
- Drawing up the policy asset mix (basic portfolio) medium- to long-term asset allocation, Domestic bonds XX%, domestic stocks XX%, International bonds XX%, International stocks XX%
- Measuring quantitative risks － in the use of Property Index(AJPI etc. …)
- Allocating tolerable quantitative risks to each asset.
- DO
- Selection of investment targets and investment managers Measuring of portfolio risk
-
In the Process of Investment Execution
- Under the allocation constraint mentioned above, what investment targets and investment targets should be selected
- Which is the degree of diversification and risk in overall investment portfolio?
- Measuring quantitative risk in the use of Real Estate Fund Index(AJFI etc. )
- SEE
- Verification of investment performance Attribution analysis
-
In the Process of Investment review
- Investment management and verification of performance after investment
- Attribution analysis of the market － in the use of Property Index(AJPI etc. )
- Attribution analysis of each fund’s performance － in the use of Real Estate Fund Index(AJFI ,etc. )
The use of real estate investment in the process of investment management by pension funds
The needs for real estate investment indices in the process of investment by pension funds
