The listed property sector has managed to outperform other equities but has been outdone by bonds during 2016 so far.
In a busy period Hyprop advanced its strategy of growing its asset base with the approval of the Rosebank Mall redevelopment and by expansion into Africa through an investment in Atterbury Africa
It is not surprising that external management of property funds is so controversial. It you look at the results of Madison Property Fund Managers for December, it earned R138m from the three listed property funds it manages but it also had a second and third bite of the cherry, earning R12m in leasing fees and R14,2m in property management fees which were paid by the three property companies it already manages.
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