The fund has raised its full-year payout to shareholders by 5.1% on a normalised basis
Investec Property Fund has raised its full-year payout to shareholders by 5.1% on a normalised basis, thanks to a strong showing from its European logistics portfolio.
“The investment was underpinned by strong property fundamentals and value has been unlocked by a dedicated, on-the-ground management team with a proven track record in the European logistics sector.” The fund said the SA market “remains challenging and is expected to impact the performance of the fund’s SA portfolio in the short term”.
“Taking this all into account, the fund expects the SA portfolio to deliver net property income growth similar to 2019 during the forthcoming year.”
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