Vukile Property Fund today announced it had withdrawn from acquisition discussions with Synergy Income Fund. 

Laurence Rapp has been appointed Chairman of the SA REIT Association, which is tasked with representing the South African listed REIT sector, one of the most active and innovative sectors on the JSE.

Most of SA's listed property funds convert to real estate investment trusts, moving them in line with global tax practice and putting them on the global map.

Vukile Property Fund's CEO Laurence Rapp says the company has rebased its portfolio and that it will match the listed property sector's performance in the near future.

Complete overhaul of Vukile's Randburg Square Mall translates into top quality mix of tenants.

Vukile acquires a 34% stake in Synergy from Liberty Group Limited.

Vukile says it has restructured itself with the aim of significantly increasing returns from 2015.

High volatility in SA's listed property sector over the past year has largely been blamed on rising bond yields, which conventional wisdom says is bad for property returns. 

Vukile is 'poised nicely', although the fund is maintaining a cautious approach as the listed property sector finds its feet, says CEO Laurence Rapp.

Vukile overcame a lacklustre operating environment to increase its full year distribution by 5.4% to 131.59 cents per linked unit while at the same time enlarging the size of the portfolio by 26% to R7.7 billion in the 2013 financial year.