Private practice.

Abstract

To Duna’s surprise, Venter’s tone on the message sounded uncharacteristically disappointed, even a little embarrassed. She informed Duna that Ottathe Money Managers’ pension client had phoned to say it was no longer interested in pursuing additional real estate acquisitions; instead, it now considered itself a net seller of real estate based on the portfolio rebalancing recommendations recently approved by the plan’s investment committee. A recent decline in the value of the plan’s stock holdings had significantly reduced the aggregate value of the plan’s assets. Real estate, which had been performing well and increasing in value, was now over-allocated.