The fund is a general property fund with a medium risk profile. The fund’s main aim is to provide the investor with a convenient way to obtain exposure to a well diversified range of selected property instruments, whilst earning a high level of current income, coupled with the opportunity of capital growth over the longer term. The fund is suitable for the investor seeking current income, keeping track with inflation over the long term, with the added benefit of potential capital growth. The typical time horizon of the investment is 3 years and longer. The fund’s benchmark is the FTSE/JSE SA Listed Property Index.

The prperty sector recovered some of it losses during the month of September. The Fund returned 1.7% for the month which brings the year to date return to a p ositive 1.6%. The financial results of Growthpoint and Hyprop Investments reflect the current market pressures. Growthpoint dividend yield is 9.9%. The listed property sector in South Africa could remain volatile but the income generated from dividends could potentially cushion some of the volatility in the capital returns.