It is believed that most analysts prefer internal management structures because objectives are more aligned with unitholders' interests

Redefine Income Fund today announced that it has purchased 6,031,600 Paramount Property Fund ("Paramount") linked units for R21,110,600, or R3.50 per unit.

Pretoria - ApexHi Properties, a property loan stock company, would relocate soon to Corpcapital's old business in Rosebank, said Brian Azizollahoff, the chief executive of Redefine.

Redefine Income Fund, managed by Madison Property Fund Managers, announced an increased interest distribution of 8 cents per linked unit for the second quarter ended 29 February 2004.

The remaining 40% of Madison Property Fund Managers (Pty) Limited has been acquired by property doyens Wolf Cesman and Marc Wainer, together with Standard Bank Properties.