Featured Funds
Redefine Income Fund
FUND FACT BOX (as at 31 August 2007)
Market capitalisation: R6.143 billion
Forward yield: 7.84% for the year to June 2008
Number of properties: 95
Value of properties: R4.705 billion
Net asset value/unit: R8.38
Price/unit: R7.40
JSE code: RDF
Top five shareholders and percentage share held:
Investec Listed Property Investments 15.3%
Old Mutual 13.3%
Stanlib 10.9%
Standard Bank of South Africa 5.8%
Ngatana 4.9%
Redefine Income Fund is a relatively low-risk investment company by virtue of its diversification through the spread of premium fixed property ownership in prime locations, with quality tenants on long leases as well as its investment in select listed property securities. Unitholders benefit from annual increases in rentals paid by lessees of directly owned properties as well as from growth in distributions from the listed securities. The innovative structure provides flexibility for this unique high-yielding property loan stock listed on the JSE Limited.
Diversified Property Fund
FUND FACT BOX (as at 30 June 2007)
Market capitalisation: R 1.52 billion
Number of properties: 34
Value of properties: R1.2 billion
Net asset value/unit: R8.05
Price/unit: R10.37
JSE code: DIV
Diversified listed on the Johannesburg Stock Exchange on 6 October, 2005 with a market cap of R443 million at a 10.51% yield. Diversified continues to focus on the acquisition of retail centres and retail development opportunities, particularly in rural areas.
Acucap Properties Limited
FUND FACT BOX (as at 31 August 2007)
Market capitalisation: R3.53 billion
Forward yield: 7.21 % for the year to March 2008
Number of properties: 71
Value of properties: R4.34 billion
Net asset value/unit: R24.53
Price/unit: R30.00
JSE code: ACP
Top five shareholders and percentage share held:
Stanlib 16.9%
Coronation 15.4%
Directors & employees 7.5%
Thesele 7.1%
Old Mutual 6.6%
Acucap was listed in March 2002 with the purpose of bringing to the market a good quality listing with solid growth prospects. The purpose was underpinned by the core values of ‘quality’ and ‘growth’ :
• Quality - in the property portfolio, in the people (both executive and non-executive), in the structure of the company, in disclosure and communication, and in the professional advisory teams and service providers; and
• Growth - consistent real growth in unitholders’ income.
To achieve its purpose, Acucap’s strategy has been to construct a quality portfolio consisting of a smaller number of individually large assets, all situated in the major metropoles, sectorally diversified, but with a bias towards retail property.