Linked unit-holders of Madison Property Fund Managers Limited, the first property asset manager in South Africa to be listed on the JSE Limited, are set to benefit from the transaction which should result from Redefine Income Fund Limited’s offer to Spearhead Property Holdings Limited unit-holders to acquire 100% of the Spearhead linked units in issue.

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

SA's listed property sector, which has been booming for more than three years, pulled back a little last month, posting a slightly negative total return of -0,79%, said Catalyst Fund Managers.

The listing of SA's largest property asset manager towards the end of this month is expected to spark further corporate activity in the listed property sector

Redefine distribution surges on higher-yielding portfolio.

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.