Viceroy research report turns spotlight on Resilient stable
Fund managers allay clients’ fears, saying they will continue to invest in the stable
The Resilient group of companies, which has regularly out-performed its peers in terms of capital and dividend growth, may be set to face the most intense scrutiny it ever has, if rumours that there is a report about its practices and governance, are true. However, a number of fund managers have allayed their clients’ fears, saying they will continue to invest in the stable which includes Resilient REIT, NEPI Rockcastle, Fortress Income Fund and Greenbay Properties. They argue the firms are well-managed by experts who found better investment opportunities and took bigger risks than other commercial property owners and that the alleged report is unlikely to find anything dubious. "I am a long-term buyer of stocks in this stable. The likes of Greenbay is very low geared and is able to grow its dividends by 25% a year without having to increase its debt," said Fayyaz Mottiar, head of property at Absa Asset Management. US group Viceroy Research said at the end of December it would relea...
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