Redefine Income Fund Limited, last year’s top performing listed property counter, continues to deliver sterling results with a 22,7% growth in distributions for its first three quarters, over the comparative period.
The importance of timing is starkly brought home by property loan stock Redefine Income Fund's less than brilliantly successful rights issue.
Listed property loan stock firm Redefine Income Fund on Wednesday announced it had formed a joint venture empowerment property company with property figure Saul Gumede
Redefine Income Fund Limited today announced that it has formed a joint venture with black-owned and managed Dijalo Property Services to be called Dipula Property Fund (Pty) Ltd.
The South African Listed Property Index has come down 8% since May 12 as the property sector, along with other asset classes, weakened following higher interest rates in the US
Further Corporate activity is on the cards for the listed property sector as funds become increasingly aggressive in their drive to bulk up assets under management. The sector has seen a number of mergers and takeovers over the past year, with the Madison managed stable of funds being one of the key players.
An increase in revenue from its fixed property portfolio and the containment of expenses were some of the factors that helped Redefine Income Fund's distributions surge 15% for the year to August
Some listed property funds with investments in other listed property funds are selling out of their listed stocks to invest in relatively cheaper fixed properties.
Redefine Income Fund has further decreased its holdings in listed property securities, disposing of its entire investment in Resilient Property Income Fund, Freestone Property Fund and Spearhead Property Group.
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