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Purpose – REITs have taken on increased significance in Europe in recent years, with French REITs (Societe d'Investissement Immobilier Cotee (SIICs)) becoming an important property investment vehicle since 2003. The purpose of this paper is to assess the significance, risk‐adjusted performance and portfolio diversification benefits of SIICs in a mixed‐asset portfolio context in France over 2003‐2012. The impact of the global financial crisis (GFC) on SIICs and their post‐GFC recovery are also assessed.
Newell et al. (Fri,) studied this question.