The sector offers good value relative to cash or bonds, writes Chris Needham

Provest Management listed its first unit trust, the Provest Property Equity Fund, on Tuesday 1 June.

Property sale increases retail exposure

THE listed property loan stock industry launched its own representative umbrella body yesterday.

WITH listed property generally trading at a premium to net asset value, hybrid property loan stock company Redefine Income Fund says that the group's current strategy is to dispose of listed property stock and beef up the fund's fixed property portfolio.

Property loan stock company Growthpoint Properties may be included inthe FTSE/JSE Africa Top 40 index by the end of the year, making it thefirst property fund to be included in this index.

A property unit trust (PUT) is a portfolio of investment-grade properties that provides rental income and capital appreciation. PUTs are a simple way for you to invest in property and receive low-risk returns.

Growthpoint Properties Limited, South Africa’s largest listed property loan stock company in terms of total assets and market capitalisation announced yesterday that it had entered into agreements to acquire the bulk of the commercial property portfolio owned by the Lyons Corporate Lease Fund.

Reaction to the six month results ending December 31st 2003 from Spearhead Property Holdings has been excellent and the company is now increasingly seen as being in the "exclusive category of real performers on the JSE Securities Exchange".

Emira announces purchase of three buildings for R 50m