Fund managers have quashed suggestions that the Resilient group of companies owns or has exposure to overrated assets in SA and eastern Europe, saying that its peers have actually tried and failed to acquire a number of these assets. At other times, the Resilient group has lost out on assets to competing funds. Some managers say criticism should be focused on the Resilient group’s financial management tactics and not on what it owns. "We have visited most of the assets and we like their dominance, quality, age and diverse tenant profile with most of the major European brands," said Keillen Ndlovu, head of listed property funds at Stanlib. Analyst Garreth Elston said Resilient group companies consistently bought well-built and located dominant malls. JSE-listed retail landlord Hyprop Investments competed with Resilient for the same shopping centre in Bulgaria last year. Hyprop acquired The Mall, the largest shopping centre in Sofia. Nepi Rockcastle, which is part of the Resilient gro...
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