Which of the following is a benefit of real estate investments for an asset manager?

Real estate investments offer significant tax advantages, which is a primary benefit for asset managers. These advantages can include deductions for mortgage interest, property depreciation, and various operational expenses, all of which can reduce the overall taxable income generated from the investment. Additionally, real estate often allows for favorable capital gains treatment when properties are sold, further enhancing the return on investment from a tax perspective.

The other responses point to aspects that do not accurately reflect the nature of real estate investments. For example, guaranteed income is not a feature of real estate, as rental income can fluctuate based on market conditions and occupancy levels. Immediate liquidity is another issue, as real estate transactions typically take time to finalize and thus cannot provide instant cash like other liquid investments. Lastly, while asset managers have responsibilities, real estate investment inherently involves management duties related to property upkeep, tenant management, and compliance with regulations. Therefore, the claim of no management responsibility is not applicable in the context of real estate investments.