Property: wide gap in returns
Investors will need to choose with care after some big 2016 losses
The difference between the total returns of the best-and worst-performing property counters was nearly 100% in 2016, suggesting that shrewd stock picking will be critical in 2017. Total returns include share price appreciation and income growth. Hotel owner Hospitality Property Fund’s B shares achieved a 45.99% total return, while the worst performer was UK-based Capital & Counties, which had a negative return of 51.48%, according to Stanlib. "The listed property sector is not homogeneous. It is quite diverse. The gap between the best performer and the worst performer in 2016 was 97.47%," said Keillen Ndlovu, Stanlib’s head of listed property funds. The second-best real estate performer on the JSE was Equites Property Fund, with a 33.32% return. SA Corporate Real Estate followed closely with 32.55%, as did Dipula Income Fund’s B shares with a 31.45% return. Rebosis Property Fund achieved 30.80% and Delta Property Fund had a total 29.66% return. The second-worst real estate group was...
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