A Comparative Analysis of Tax-Exempt Flow Through Vehicles

ISBN-13: 9783845403847 / Angielski / Miękka / 2011 / 128 str.

Marco Maria Vigato

Opis

Stock of flow-through investment vehicles have become an important element of the current investment landscape. This empirical study investigates the risk-adjusted performance of flow-through stocks over the period of January 1999 through December 2008 in three major developed economies, which include the U.S, Canada and the European Union.In so doing, the aim of the present study is twofold. First, we contribute to the existing set of knowledge by shedding new light on the risk adjusted performance of Income Trusts, Master Limited Partnerships (MLPs) and REITs over a period of significant market expansion followed by contraction. Second, the contribution of flow-through stocks to diversified portfolios is examined and the relationship of flow-through stock returns to known stock and bond-related factors is further assessed.

O autorze

Graduated from Bocconi University in 2009, Marco M. Vigato has been working as a management consultant for leading financial institutions in Italy and the EU. His areas of focus include corporate finance, strategy and risk management.