Vunani property investment fundDistributions set to climb at least 17%

Published Dec 4, 2012

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Vunani Property Investment Fund, which has significant exposure to the commercial office market, anticipated declaring an increased distribution of between 36c and 38c a linked unit for the six months to December, the fund reported yesterday. The fund paid a distribution of 27c a linked unit for the 20-week period from its listing on August 11 last year to December 2011. This equated to 30.54c for the six months to December 2011. Vunani said the increased distribution resulted from tight management of existing assets and acquisitions that were yield accretionary. Management believed these factors “will continue to have an enduring and sustainable impact on future distributions”. The fund expected to post interim results on or about February 25. The units surged 7.14 percent to R9. – Roy Cokayne

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