Capital Property Fund has delivered the strongest returns and was ranked first out of 21 portfolios included in the latest IPD South Africa Property Databank index.

In the IPD South Africa Property Databank results for 2003, Capital Property Fund has delivered the strongest returns and was ranked first out of 21 portfolios included in their latest index, exceeding the average total return of 15,1% by a significant margin.

Property loan stock company Resilient Property Income Fund has acquired a 25% stake in property unit trust Capital Property Fund as well as 25% of the fund's management company, Property Fund Managers.

Capital Property Fund has declared a dividend of 29,35 cents per unit for the financial year 2004.

Listed property fund Capital Property Fund (CPL) has reported a fall in its final headline earnings per unit for the year ended December 31, 2003, to 27.44 cents from 28.24 cents a year earlier.

LISTED property unit trusts Capital Property Fund and Centrecity Property Fund (Cenprop) announced yesterday that Mike Cullabine had resigned as a director of Property Fund Managers, the management company handling the two funds.

An interim distribution of 14,75 cents for the six months that ended on June 30 has been declared.

Property unit trust Capital Property Fund says it is satisfied with its interim results for the six months to June 30 this year, and they were achieved in tough property market conditions.

Investors can expect property loan stock company Arnold Property Fund's (A-Prop's) earnings to drop by at least 50% this financial year, says listed property asset management company Provest.

PROPERTY investment group Hyprop has scooped The Mall of Rosebank and JHI House, beating two other contenders to the two jewels in the portfolio of property unit trust Cenprop.