Investec Property Fund says offshore focus could pay off amid Covid-19
Co-CEO of Investec Property Fund Darryl Mayers. Picture: SUPPLIED
IPF’s co-CEO Andrew Wooler said on Wednesday that he is confident management’s restructuring of the fund over the past three-and-a-half years will continue to pay off in 2020. During the year, IPF, through its wholly owned subsidiary Investec Property Fund Offshore Investments , increased its interest in its “pan-European logistics platform” from 42.9% to 75% for an additional equity investment of €191m .
IPF said industrial and logistics properties are being driven by an accelerated increase in e-commerce penetration rates “resulting from the lockdowns and supply chain reconfiguration to protect supply and stock, leading to a higher demand for storage and warehousing space”.Co-CEO Darryl Mayers said IPF’s SA assets have also performed well in the reporting period, delivering net property income growth of 0.9%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eastern Cape prison records 34 new Covid-19 infections, taking number of cases in SA prisons to 654SA's prison system has recorded 34 new Covid-19 infections as of Tuesday.
Read more »
COVID-19 LIVE UPDATES | 40,000 could die in SA when Covid-19 storm peaks: expertsEven as most of the country prepares to head to level 3 of government's alert levels at the end of this month, the department of health can only hope that it will have done enough to drill into South Africans the need to practise the non-pharmaceutical interventions of social distancing, heightened hygiene and mask wearing, in the absence of treatment for the virus.
Read more »
SAUS wants university fees to be reduced amid COVID-19 lockdownThe union on Monday said student fees partly account for contact classes, which haven't fully taken place because of the lockdown.
Read more »
DA says ANC is evidently divided on race-based Covid-19 fundingAccording to a DA MP, Yunus Carrim has said at a committee meeting the ANC was annoyed that Tito Mboweni has said he can not support the policy.
Read more »
COVID-19: SA cases now over 17,000, death toll at 312Health Minister Zweli Mkhize announced that the Northern Cape has recorded its first death.
Read more »
22 more Covid-19 deaths as SA infections increase to 16 433As of today, the total number of confirmed Covid-19 cases in South Africa has increased to 16 433 with 22 more deaths reported.
Read more »