The Comparisons of Risk and Rates of Return of Securities in the Property and Construction Groups by Capital Asset Pricing Model (CAPM)

Abstract

The purpose of this study is 1) The comparative study of risk and rate of return on the securities in property fund sector and rates of return on the market,and 2) To compare the rate of return expected rate of return on the securities,
mutual funds, the securities in property fund sector. Using the CAPM model, which is a group of securities in the Fund's securities. Securities listed on the Stock Exchange of Thailand 5 securities, 1) Future park leasehold property fund : FUTUREPF 2) 101 Montri storage property fund : MONTRI 3) Quality Hospitality leasehold property fund : QHOP 4) Ticonpropertyfund : TFUND and 5) and Dusitthanifreehold & leasehold : DTCPF

The results showed that, In the rate of return. Compare rates of return of all funds, securities with a market rate of return. Securities with higher yields than the market. There is only one FUTUREPF securities as securities with lower yields than
the securities market, including 4 QHOP, DTCPF, MONTRI TFUND the risks and returns for all securities that have lower risk than the market. And the beta coefficient. Can be classified into two groups: security coefficient beta of less than 1 but greater than ๐, or correlated positively with the number four securities, including DTCPF, FUTUREPF, TFUND and QHOP ie, securities that are less risky than the market. which indicates that the returns of the securities subject to change in line with market returns in proportion to less than Securities such as passive (Defensive Stock) and other securities with a coefficient less than ๐ or a negative relationship. There is only one MONTRI securities, which securities will yield counter to the movement of the market rate of return, that Securities Group Fund at a rate of return that is greater than the rate of return expected the three securities is FUTUREPF, QHOP and TFUND. These securities are worth less. Undervalued than it should be appropriate and worth the investment.