THE listed property loan stock industry launched its own representative umbrella body yesterday.

WITH listed property generally trading at a premium to net asset value, hybrid property loan stock company Redefine Income Fund says that the group's current strategy is to dispose of listed property stock and beef up the fund's fixed property portfolio.

Property loan stock company Atlas Properties (ATS) has reported a total distribution to unit holders of 41.8 cents per unit for the six months to end-March 2004, up from 39.4 cents a unit for the comparable period a year earlier.

Property loan stock company South African Retail Properties, which hasa property portfolio worth nearly R1,1bn, including 27 shopping centres,has increased its distributable income to unit holders.

Property loan stock company Growthpoint Properties may be included inthe FTSE/JSE Africa Top 40 index by the end of the year, making it thefirst property fund to be included in this index.

LISTED property loan stock giant ApexHi Properties yesterday declared a quarterly distribution of 25,5c for each of its A-units and 27,25c for each of its B-units for the three months to March 31.

Waterfall Mall in Rustenburg, with effect from April 1.

A property unit trust (PUT) is a portfolio of investment-grade properties that provides rental income and capital appreciation. PUTs are a simple way for you to invest in property and receive low-risk returns.

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.

Property loan stock company Alpina, formerly Gold Edge, is in a deep hole