%0 Journal Article %A Kimberly F. Luchtenberg %T REIT Unit Investment Trusts and Fund Manager Skill %D 2022 %R 10.3905/jai.2022.1.164 %J The Journal of Alternative Investments %P jai.2022.1.164 %X This article examines fund manager skill using a sample of real estate investment trust unit investment trusts (REIT UITs). Since REIT UITs are limited to a single industry and since the fund managers do not trade, REIT UITs present an ideal sample to study fund manager stock-selection skill. Using a hand-collected sample of REIT UITs from May 2009 to July 2015, this study finds that REIT UITs do not deliver a statistically significant positive alpha. This is the first article to investigate fund manager stock-selection skill in REIT UITs and contributes to the literature evaluating the effectiveness of active fund management. %U https://jai.pm-research.com/content/iijaltinv/early/2022/04/22/jai.2022.1.164.full.pdf