Value of Stanlib’s Africa fund tumbles 75%

Stanlib, the asset manager that has investments in listed property stocks worth more than R17bn, will focus on local and developed markets after its African fund lost three-quarters of its value in four months.

Keillen Ndlovu, head of listed property funds at Stanlib, said on Monday it is difficult in many African commercial property markets to repatriate money because financial system processes are slow and erratic and there is a lot of red tape...

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