Several of long-term shareholders are holding on to their interests in the Resilient group of property companies, saying that they will not act on speculation and will instead wait for the release of financial results. There has been a selldown in the shares of Resilient, Greenbay Properties, Fortress Income Fund and Nepi Rockcastle over the past two weeks amid concern that a research report due before February from Viceroy Research will target one or all of these companies. Those asset managers who tend to invest pension funds and other savings for long periods, as opposed to short-term traders, have refused to decrease or let go of their holdings until they get factual information to justify a change in position. Resilient will release results for the six months to December on Tuesday, followed by its partners in early February. Stanlib’s head of listed property funds, Keillen Ndlovu, said that they had invested using facts and did not sell based on rumours. Meago Asset Management...
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