There was an accessible (well, it’s behind the FT firewall) piece by John Authers in the FT a few days ago on smart beta investment strategies. Usually, it doesn’t take long for the real estate academic community to follow the broader finance academics. However, given smart beta rage in the fund management sector, it’s surprising to see so little consideration of its application to real estate investment. A quick look in Google Scholar threw up a presentation by a couple of ‘off-site’ Reading colleagues – Kieran Farrelly and Alex Moss but that’s about it – and they’re looking at the topic very much from a listed real estate perspective. Does this investment approach have any relevance to investment strategies for directly held assets?