I have analysed this fund against 3 large REITS VNO, SPG &BXP since close of September and open as of October 1 2008 to xRQIx.
I analysed this since most of the losses occured from October 1. On the downside rqi lost 77% vs. 57% for the average of the 3 large REITS. That is xRQIx lost 35% more than the average large REITS. However, on the upside it only gains 77% as much as the big 3.
IN SUMMARY what this tells me is that this reit has lost roughly $3 per share in NAV compared to the large big 3 reits from September 30, 2008. Since I used the largest most stable of the REITS the loss maybe less when the more volatile REITS in the portfolio which may have come down more revive and move up equally as much as they went down. At least this gives me the worse case scenerio if the REITS start moving up over the next 3 to 6 months as I suspect they will back to their October 1 level.
it was severly mis-priced. Classic throwing the baby out with the bath water. There are many equities like this right now. Be very careful and selective. Better to buy specialized mutuals, REITS and ETF's to spread your risk among an indusstry. Others have different opinion saying buy the best individual stock in an industry. I can see that viewpoint as well and may be best approach for certain industries. Food processsors, energy companies come to mind but know your investment style and appetite (and stomach) for risk and act accordingly.