Texton Property Fund is set to release a strategic document in May that will detail a turnaround plan for the real estate group. This will give the company and its recently appointed executives a chance to set the record straight about a number of concerns that the listed property sector’s investor community has had since the fund was formed out of the takeover of Vunani Property Fund at the end of 2013. Texton was trading at a historical rolled yield of 17.5% at the end of March, the highest of the 50 property funds tracked by Catalyst Fund Managers in its monthly sector snapshot. Texton has had three CEOs in four years and investors have wanted a settled management team in place — one that can optimise the company’s property portfolios. About 60% of Texton’s assets are in SA and about 40% in the UK. There have been concerns from fund managers that CEO Nosiphiwo Balfour, who took up her role in July 2017, was given a poisoned chalice, with Texton being a takeover target. There are ...

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