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The relationship between interest rates and REITs is simple. One goes up, the other goes down. Right?
Not so, says Amos Rogers, managing director of the $136 million (SSREX Quote)SSgA Tuckerman Active REIT fund. He contends that the link isn't as ironclad as investors seem to think. Rogers says the recent correlation is a short-term phenomenon tied to investors chasing yield rather than watching improving REIT fundamentals.
So why should investors trust Rogers and not the conventional wisdom? One reason might be the success of his fund. Over the past five years, Rogers' fund has been up 18.7% annually, 21 percentage points better than the S&P 500. ...
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