Provest launches its first unit trust

Posted On Thursday, 03 June 2004 02:00 Published by eProp Commercial Property News
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Provest Management listed its first unit trust, the Provest Property Equity Fund, on Tuesday 1 June.

Angelique de RauvilleProvest Management listed its first unit trust, the Provest Property Equity Fund, on Tuesday 1 June. The Provest Property Equity Fund, which will invest exclusively in listed property, will be managed by Provest and administered by Investec Fund Managers.

Angelique de Rauville, MD of Provest, believes that the fund will assist Provest in increasing its assets under management. Currently Provest manages 160 segregated portfolios representing R1.3 billion in assets. Whilst the intention is for the fund to represent a significant percentage of the overall listed property sector, performance will ultimately take preference over size as the fund's strategic goal.

"The Provest Property Equity Fund has been structured for the portfolios of high net-worth individuals and other investors," said De Rauville. The fund's initial costs will be charged on a sliding scale ranging from 1.25% to 2.5%, with the minimum investment set at R250 000.

Provest will invest the Provest Property Equity Fund exclusively into interest-income generating listed property stocks, specifically Property Unit Trusts (PUTs) and Property Loan Stocks (PLSs) listed on the JSE Securities Exchange SA. The fund is expected to distribute pre-tax interest-income on a quarterly basis.

Provest manages the largest number of independently listed property portfolios in the country.

Assets under management by Provest total R1.3 billion, representing 5% of the market capitalisation of the combined PUT and PLS indices listed in the JSE Securities Exchange Real Estate Sector.

Angelique De Rauville

Provest Management

Tel. 286 9238 Cell 083 628 7684


Marketing Concepts

Sandy Davey

Tel. 880 2213 or 083 453 6668

Last modified on Tuesday, 13 May 2014 11:56

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