Listed property consolidates gains

Posted On Tuesday, 12 October 2004 02:00 Published by eProp Commercial Property News
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Listed property performed well in September with the SA Listed Property Index showing that the sector delivered total returns of 3,41%, said a report by Catalyst Securities

Andre Stadler

Listed property performed well in September with the SA Listed Property Index showing that the sector delivered total returns of 3,41%, said a report by Catalyst Securities released this week.

The SA Listed Property Index shows the returns on listed property unit trusts and property loan stock companies on the JSE Securities Exchange SA.

Total returns include income from listed property units and capital appreciation in unit value.

The property unit trust sector delivered total returns of 4,73% and the property loan stock sector produced total returns of 2,72%.

Catalyst Securities MD Andre Stadler said earlier this week the listed property sector's September performance consolidated a strong performance in August.

This was underpinned by the South African Reserve Bank reducing interest rates by a further 50 basis points.

In August property unit trusts and property loan stocks delivered total returns of 5% and 5,5% respectively.

Listed property unit trust Grayprop, which delivered a total return of 7,14%, attributed the most positive performance to the sector during the month. It was supported by Hyprop, with a total return of 6,45%, Pangbourne with 5,57% and Sycom with 4,7%.

Nine listed property funds delivered total returns of between 0% and 2%, ranging from newcomers to the sector like Ambit to the largest fund in the sector, Growthpoint.

Catalyst Securities said the key driver was the strengthening or increase in price of long bonds in the middle of the month.

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