A JSE-listed property arm of British multinational asset management company Schroders, which focuses on West European capital cities​, will no longer invest in shopping centres over the next five years amid concerns that the retail asset class will struggle.

Schroder European Real Estate Investment Trust (Sereit), which acts as a currency hedge for South Africans as it pays its dividends in euro, will focus its capital on assets which promise better growth such as industrial warehouses and offices in cities popular among young professionals such as Berlin and Paris, fund manager Jeff O’Dwyer said, commenting on financial results for the year to September...

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