| U.S. funds have had the lowest real estate returns in the global pensions industry because they rely on costly external managers and made risky bets before the financial crisis, according to a study by Maastricht University.
Property investments generated an average net annual return of 5.7 percent for U.S. pension funds from 1990 through 2009, according to research by the Netherlands-based university. That compares with 7.2 percent returns for Canadian funds and a typical return of more than 7 percent for other funds...............................................Full Article: Source
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