Investec Property Fund Limited (JSE:IPF)
Investec Property Fund Limited (JSE:IPF) is a South African Real Estate Investment Trust (REIT) with a portfolio of direct and indirect commercial real estate investments in South Africa, the UK and Europe.
In South Africa, the Fund directly owns a portfolio of more than 90 properties in the retail, industrial and office sectors. It also owns 35% of Izandla - a majority black owned property company operating in the procurement, development and management of real estate assets.
Approximately 50% of the Fund’s assets and 45% of earnings are derived from offshore investments. This comprises strategic property investments, mainly in logistics, in the developed markets of Europe and the UK where the Manager has a presence on-the-ground. These investments include an interest in Argo UK Fund, an investment into a Pan-European logistics portfolio and an investment into a Pan-European light industrial portfolio.
IPF's portfolio has been built on an investment philosophy of acquiring quality assets with compelling property fundamentals in targeted sectors in selected geographies where it has in-country expertise. More recently, the Fund has strategically shifted its focus towards the logistics sector, as a result of which, logistics assets now comprise almost 50% of IPF’s investments globally.
Investec Property Fund Limited listed on the Johannesburg Stock Exchange (JSE) in 2011.