New York Times cites Agrrawal’s research in report on real estate funds

The New York Times cited research by Pankaj Agrrawal, an associate professor of finance at the University of Maine, in the article, “Real Estate Funds Have Been a Balm in a Stinging Market.” Real estate funds have recently edged ahead of the overall stock market by betting on old-fashioned assets like office buildings and warehouses, the article states. According to a 2013 research paper by Agrrawal, adding real estate to a portfolio of stocks, bonds and gold both increased the return and damped the volatility. The New York Times reported Agrrawal split the hypothetical portfolio equally between six asset classes: United States stocks, European stocks, emerging market stocks, United States bonds, gold and United States real estate.