RT Journal Article SR Electronic T1 REIT Unit Investment Trusts and Fund Manager Skill JF The Journal of Alternative Investments FD Institutional Investor Journals SP jai.2022.1.164 DO 10.3905/jai.2022.1.164 A1 Kimberly F. Luchtenberg YR 2022 UL https://pm-research.com/content/early/2022/04/22/jai.2022.1.164.abstract AB 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.