Fund managers have urged Rebosis Property Fund to appoint a suitable full-time CEO when appropriate and assure them the group has not veered from founder Sisa Ngebulana’s plan to make it a retail fund to rival other retail specialists. This follows Wednesday’s sudden resignation of Andile Mazwai, who Ngebulana had handpicked as his successor. Mazwai became CEO on October 1 2017. Richard Henwood, an investment analyst at Bridge Fund Managers, said the market was awaiting clarity from Rebosis. "It is unfortunate that Mr Mazwai and Rebosis have parted ways, and that the timing has meant a postponement in their interim results. "Hopefully, Rebosis can provide more information when appropriate and quickly restore shareholder confidence," Henwood said. Rebosis’s share price plummeted 9% to R7.40 on Wednesday after the resignation announcement, before settling 7.85% lower at R7.51 at the end of trade for the day. The former CEO of Barnard Jacobs Mellet, which was acquired by First National...

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