Market Wrap - Stock pick — Investec Property Fund
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Nesi Chetty from Stanlib chose Investec Property Fund as his stock pick of the day.
"Investec Property Fund is one we've liked for a while, if you look at the business model they've built up a good portfolio of assets so it is diversified across 3 regions; Australia, South Africa and the UK. What we particularly like about the business is that over time there'll be a natural transition from recycling in SA - into the UK market. They've done well to build up the UK logistics platform and the NAV growth in that portfolio is decent at about 1.5%. They're able to do accretive deals in that market and also inject an equity partner. If you look at that portfolio it's an established pan-european asset platform with a good management team as well."
"Investec Property Fund is one we've liked for a while, if you look at the business model they've built up a good portfolio of assets so it is diversified across 3 regions; Australia, South Africa and the UK. What we particularly like about the business is that over time there'll be a natural transition from recycling in SA - into the UK market. They've done well to build up the UK logistics platform and the NAV growth in that portfolio is decent at about 1.5%. They're able to do accretive deals in that market and also inject an equity partner. If you look at that portfolio it's an established pan-european asset platform with a good management team as well."
