Legacy assets a headache for Investec Property Fund
IPF's dynamic CEO duo have shown an ability to re-position a fund with flair, but they aren’t quite finished yet
Investec Property Fund (IPF) has spent the past four years changing its asset base so that it owns low income earning and less risky properties. But it still has some legacy assets which are giving it headaches.
The company's management under former CEO Nick Riley and current co-CEOs Darryl Mayers and Andrew Wooler sold a number of SA assets including Musina Mall as well as Investec Australia Property Fund, which now looks overpriced...