COMPANY COMMENT: Good call as Rebosis listens to shareholders
By internalising management, Rebosis should better align the interests of its bosses and the fund’s performance
Rebosis Property Fund has listened to its shareholders and taken various steps to become a retail-focused real estate investment trust (Reit) that promises consistent income returns to investors. The change at Rebosis includes internalising its management team and bringing in the highly rated Andile Mazwai as its chief operating officer.By internalising management, Rebosis should better align the interests of its bosses and the fund’s performance. In the past, some critics have said that external managers of property funds reward themselves with fees and pay managerial salaries, which leaves less for shareholders. Mazwai’s appointment has won wide approval. Many commentators rate him, the former CEO of investment group Barnard Jacobs Mellet, very highly. Mazwai has served on the Rebosis board since inception but has taken up a hands-on role. He is rumoured to be the future replacement of Rebosis CEO Sisa Ngebulana. Ngebulana founded Rebosis, but also runs the development company, Bi...
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