Catalyst Fund Managers’ monthly overview, released yesterday, showed that the worst-performing companies were Hospitality, at 18,15%, and Growthpoint at 1,08%.

Premium announced a distribution of 51,9c per unit for the six months ended August 31, which represented growth of distributions of 13,3% on the previous comparable period. Vukile unit holders have entered into agreements with three wholly owned subsidiaries of Sanlam to acquire a portfolio of 13 properties for R775m.

The SA-listed property index recorded a total return of 2,05% for last month. The property loan stock index and property unit trust index recorded total returns of 1,86% and 2,73% respectively over the same period. The historic yield of the SA listed property sector strengthened and ended the month at 8,61%, from 8,67% at the end of September.

For the year to date, the SA-listed property sector had recorded a total return of 11,88%. Catalyst Fund Managers investment manager Paul Duncan said that for investors with a long-term time horizon, listed property offered an attractive historic rolled yield of 8,61% plus the prospect of income growth. “Assuming income growth of about 8% over the next 12 months, the forward yield of the SA-listed property sector would be about 9,30%,” he said.