We are pleased to announce that Dr. Seda Peksevim has been awarded a research grant from the Investment Property Forum (IPF) for her joint project with Russ Moro titled “Real Estate Exposure and Investment Performance of Pension Funds: Evidence from OECD Countries.”

Using a panel dataset built from OECD, IMF, and World Bank sources, the study will assess whether higher allocations to real estate—particularly through direct property holdings—enhance pension fund outcomes across different economic environments. The analysis will distinguish between crisis and non-crisis periods, controlling for pension fund size, financial development, interest rates, GDP growth, and inflation. This crisis-sensitive, cross-country framework will allow for the first systematic assessment of how macroeconomic and institutional contexts shape the effects of real estate exposure in pension portfolios.

We are excited about the potential impact of this project and look forward to sharing our findings in the near future.