Then we get tracker funds. Or, worse, the manufactured funds like ETFs (Exchange Traded Funds) and REITS (Real Estate Investment Trusts), which wrap equities and bonds inside a second vehicle which is itself quoted and charges a fee for the supposed insight that the managers supply (but rarely do) and we have an outcome that is opaque, potentially illiquid and very often downright exploitative. It is the place where the rentier goes when all else has failed.
So, without an ETF (or unit trust, or investment trust, both usually more expensive than ETFs) how is the retail investor to gain diversification? Without Reits how to gain exposure to commercial property at all?