Brazilian pension funds : real estate investments
Name
48528656-MIT.pdf
Description
Full printable version
Size
4.94 MB
Format
Adobe PDF
Checksum (MD5)
f92a058e0927fd03c152cfb69c37d19e
Author(s)
Gomes, Paulo André, 1971-
Advisor(s)
Blake Eagle.
Date Issued
2000
Publisher
Massachusetts Institute of Technology
Abstract
The objective of the thesis is to analyze the participation of Brazilian pension funds in the real estate sector, with special attention to their historical motivations. The thesis also describes the prospects of future investments in the sector once that both pension funds and the real estate industry are experiencing great transformation in that country. Since their regulation in the late 1970s, pension funds have been responsible for the largest share of real estate investments in Brazil. Nevertheless, the percentage of pension funds' portfolios allocated to real estate decreased during the last decade, while the amount of those investments increased. That is a direct consequence of the extraordinary growth of those institutions' number and size: today's 362 pension funds are responsible for more than US$ 60 billion worth of direct investments in all sectors of the economy, including about US$ 6 billion invested in real estate. This thesis examines the existing real estate portfolios of pension funds, and attempts to explain the technical and political reasons for such investments. Also, it describes the changes under way in the pension system, main trends in the market, and their potential effects to both pension funds' portfolios and the real estate industry.
Description
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2000.
Includes bibliographical references (leaves 85-88).
Subjects
Urban Studies and Planning.
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Terms of Use
M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
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