Last year, five of the JSE’s offshore property offerings delivered a total return of more than 40% GIVEN the stellar performance of a number of rand hedge property stocks last year, it’s tempting to switch from SA-focused counters to those that offer hard-currency income streams.Last year, five of the JSE’s offshore property offerings delivered a total return of more than 40%. These are long-time market darling New Europe Property Investments (Nepi), Capital & Counties Properties (Capco), Rockcastle, Sirius Real Estate and Tradehold.However, analysts are cautioning investors against a knee-jerk reaction.Sesfikile Capital director Mohamed Kalla says investors are understandably keen to step up their offshore diversification because of SA’s dismal growth outlook and the possibility of further currency weakness. But the ever-growing pool of offshore offerings on the JSE, as well as local players’ ongoing diversification into markets outside SA, means that investors need to be discernin...
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