IAPF CEO Graeme Katz says the fund is now a strong rand hedge as it invests in developed and stable Australia INVESTEC Australia Property Fund (IAPF) is a standout among overseas-based real estate companies, delivering distribution growth of 29.3% in rand terms for the year to March. Even in Australian dollar terms, the company reported double-digit distribution growth of 12.1%.IAPF has become a strong rand hedge, as it invests in developed and stable Australia, according to CEO Graeme Katz.The fund declared a full-year distribution of 9.17c per unit. IAPF completed A$127m of property acquisitions during the year, which, along with new valuations, contributed to the increase in the portfolio value to A$494m. This represents growth of 3.8 times since listing in October 2013."The fund continues to produce strong distribution growth, underpinned by our strategy of investing in good-quality real estate in a developed market, where income returns are derived in hard currency."In addition...
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