Compare the estimates in data for Australian listed property and Residential Investment Property. Explain why they are so different. Also explain why the Residential Investment Property return is possibly not that informative from an investment perspective.

Exhibit B: Gross returns for 10 years to December 2020 Growth managed fund* Balanced managed fund* Conservative managed fund* Global listed property (unhedged) Global shares (unhedged) Global shares (hedged) Cash Global bonds (hedged) Australian bonds Australian listed property Residential invesment property Australian shares 0.0 2.0 4.0 6.0 8.0 10.0 Exhibit B: Gross returns for 10 years to December 2020 Growth managed fund* Balanced managed fund* Conservative managed fund* Global listed property (unhedged) Global shares (unhedged) Global shares (hedged) Cash Global bonds (hedged) Australian bonds Australian listed property Residential invesment property Australian shares 0.0 2.0 4.0 6.0 8.0 10.0