Who is responsible for managing portfolios of properties?

• A. Property manager
• B. Asset manager
• C. Broker
• D. Developer

Answer: (B)

Managing portfolios of properties is an asset management function. The asset manager oversees multiple real estate investments, focusing on overall performance and strategic direction to maximize returns for investors. This includes decisions about acquisitions, dispositions, financing, capital improvements, and budgetary strategy across the entire portfolio, rather than handling day-to-day operations of individual properties. They may supervise property managers who take care of specific properties, but the broader, portfolio-wide planning and optimization come from the asset manager. A property manager handles the operations and leasing of a particular property (or properties) on a day-to-day basis. A broker facilitates transactions, and a developer creates new properties.