FUND GROWS RETURNS
Steady outlook from property group SA Corporate
Analyst say the results are slightly below expectations, and the company’s lower distribution outlook disappoints
Property group SA Corporate Real Estate Fund has increased its full-year distribution by 8.7% to 43.02c per share but the group, which owns a diversified portfolio of industrial, retail, commercial and residential buildings, has given a conservative forecast for its prospects in the year to come. "In 2016 through proactive asset management interventions and focused operational management, SA Corporate has positioned its property portfolio to generate sustainable and defensive income whilst establishing a pipeline for growth. "The board’s view of future prospects is that distribution growth of between 6% and 8% for the 2017 year can be anticipated," the company said. Bridge Fund Managers chief investment officer Ian Anderson said the results were "more or less" within expectations. "They were a little below what the market was looking for but by a very negligible amount." Anderson said the group’s portfolio had delivered a strong performance especially with the backdrop of a challeng...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.