Australian Retirement Living & Aged Care Investment Performance

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Conference Proceeding
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Institutional investors use modern portfolio theory when making investment decisions. A requirement of this is established benchmarks incorporating historic performance on which to base future decisions. The difficulty arises with regard to new and emerging asset classes which lack these benchmarks. In Australia the Retirement Living and Aged Care (RLAC) sector still lacks a benchmark performance metric. This paper looks at historical investment performance in the sector and constructs a market capitalisation weighted return index. In doing so it identifies current problems with such an index for the sector. Not only is the sector heterogeneous but also showing considerable dynamism in business models.
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