Dealing with other people's money carries a fiduciary duty and responsibility. When making decisions regarding fund managers in whom to place your trust, it is important to assess them carefully and with due diligence.

SA is soon to follow the international trend whereby property loan stock companies and property unit trusts will be structured as real estate investment trusts (the REIT model), with final legislation hopefully in place next year.

The corporate governance of listed property funds is just not good enough, says Barnard Jacobs Mellet property analyst Amanda de Wet, in a report to clients. And it's the best-performing and biggest funds that seem to fare worst.