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Investment Watch

July 28, 1996

Real estate investment trust shares have been a good place to hide amid the stock market's recent ruckus. REITs are investment firms that own office, warehouse, apartment and other commercial real estate. Mutual funds that specialize in REIT shares gained 7.1% in the first six months of this year, on average, including dividends. Through Thursday, the average REIT fund was up 4.8% year-to-date, which means the funds have surrendered relatively little of their gains, even as the stock market overall has plummeted. In contrast, the average general stock fund was up 10.8% on June 30 but is up just 2.6% now, according to fund tracker Lipper Analytical.

Related story, D2

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