Il risk management nelle Sgr immobiliari tra regole, stato dell’arte e sfide aperte
Journal title ECONOMIA E DIRITTO DEL TERZIARIO
Author/s Claudio Giannotti
Publishing Year 2011 Issue 2010/3 Language Italian
Pages 15 P. 533-547 File size 728 KB
DOI 10.3280/ED2010-003007
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The asset management companies (Sgr) involved in real estate funds are forced to have a risk management function. Risk management can be, not only a regulation duty, but also a favorable modus operandi and a competitive advantage. A cultural change from formal to substantial compliance is needed. Through a questionnaire sent to the Assogestioni real estate Sgr team, this article aims to analyze the present situation of the risk management of Italian Sgr managing real estate funds, in order also to highlight the main challenges for the operators. The results show that Sgr risks are managed through a detailed mapping, underlining risk factors in the fund management phases, and real estate fund risks are controlled thorough the business plan sensitivity analysis. The main challenges for the operators concern the statistical measures and models suitable for properties, the poor adequacy of the real estate data, the effectiveness of the internal and external communication and the definition of best practices.
Claudio Giannotti, Il <i>risk management</i> nelle Sgr immobiliari tra regole, stato dell’arte e sfide aperte in "ECONOMIA E DIRITTO DEL TERZIARIO " 3/2010, pp 533-547, DOI: 10.3280/ED2010-003007