Property futures and securitisation : the way ahead /

This book provides an analysis of the attempts in both US and UK to chase the 'Holy Grail' of liquid property; the buying and selling of small manageable chunks of property and creating a market like those for shares, gilts and derivatives. This is the first book to explore liquid property...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Roche, Julian
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Cambridge : Woodhead, 1995.
Temas:
Futures market > United States.
Futures market > Great Britain.
Real estate investment > United States.
Real estate investment > Great Britain.
March�es �a terme > �Etats-Unis.
March�es �a terme > Grande-Bretagne.
Immeubles > Investissements > �Etats-Unis.
Immeubles > Investissements > Grande-Bretagne.
BUSINESS & ECONOMICS > Real Estate > General.
Futures market.
Real estate investment.
Derivat > Wertpapier
Immobilienmarkt
Liquidit�at
Termingesch�aft
Great Britain.
United States.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Front Cover; Property Futures and Securitisation
  • the Way Ahead; Copyright Page; Table of Contents; Foreword; Acknowledgements; Introduction; CHAPTER 1. The concept of a commodity, a market and a derivative; What is a commodity?; Markets; Derivatives; CHAPTER 2. The physical property market; Residential property; Commercial property; Property forecasting; CHAPTER 3. Derivative markets; The history of derivative markets; Characteristics of the exchange-traded derivative markets; Managing risk with futures; Trading futures compared with physical property; Commodity funds.
  • CHAPTER 4. Approaches to the creation of liquidity in the property marketThe benefit of liquidity; Portfolio diversification; Additional benefits; The legal background of securitisation; Single property schemes; Real estate investment trusts; BZW property index certificates (PICs); Conclusions; CHAPTER 5. The London Fox experiment; CHAPTER 6. Other markets and possibilities; The choice of index; Risk management based on a PFM; Efficient portfolio management; How to get a successful PFM; CHAPTER 7. The benefits of a property futures market; What would be the benefits of a PFM?
  • CHAPTER 8. The OTC market in property derivativesThe �100 million Burton Group zero-coupon bond; BHH International Finance plc; Conclusion; CHAPTER 9. The regulatory and tax background; Regulation; Taxation and accounting; CHAPTER 10. The future of property derivatives; The United States; Further developments in the United Kingdom; References; Abbreviations; Glossary; Appendix I: The London Fox property futures market
  • summary of contract specifications; Appendix II: Redcastle plc �100,000,000 Zero Coupon Secured Bonds 1997; Index.

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