On the Continent, we have continued to observe strong performance of student housing assets. However, the latest academic year marked a material slowdown in operational performance for assets in the UK. Pricing in the sector has reflected changing fundamentals, as yields on the continent have remained stable or shown early signs of compression on a small number of markets, including Spain, Italy and Denmark.
This paper investigates the demand for precautionary liquidity versus commitment contracts among participants in retirement saving programs by analyzing administrative data from the largest workplace saving plan provider in France, a country in which employers have wide discretion in structuring these plans.