STANLIB Property Income Fund
MANAGEMENT Fund Manager's Comment
Keillen Ndlovu, BCom (Hons), CAIB (SA), Property Development, Head of Listed Property
Keillen began his property fund management career at Standard Bank Properties in 2004 managing its leveraged listed property product. He became a listed property analyst at Stanlib in 2005 and now also co-manages the Stanlib Aggressive Income Fund.
Nesi Chetty, BCom (Hons) Finance Cum Laude, CFA, Senior Portfolio Manager
Nesi started his investments career with RMB in 2002 where he was a member of the consumer industrial team and also assumed non-consumer research responsibilities. Nesi was previous head of Financials at RMB Asset Managers, responsible for banks and life assurance. He also managed the award winning RMB Financials Fund. In 2010, He was appointed as a fund manager and Head of property for Momentum. He managed the flagship Momentum Property Fund for over a decade and was responsible for asset allocation, research, strategy, and fund management within the property investments business. Nesi is a regular commentator on property, equities and the broader financial market. Nesi Joined STANLIB in June 2019 to co manage local and global listed property.
FUND OBJECTIVES AND FOCUS

The STANLIB Property Income Fund aims for the growth of capital and to provide an income source. Investments may consist of property shares, property loan stock, debentures, debenture stock and bonds, unsecured notes, property unit trusts and other listed securities considered consistent with the portfolio's objective. Liquidity may be increased to 50% if deemed necessary by the manager. Exposure to fixed-interest securities is limited to 30%. The portfolio may also invest in the participatory interests of collective investment schemes. This portfolio may not have any direct and/or indirect foreign exposure.


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WEBGRAPH
RANKING
SectorSouth African-Real Estate-General
SizeR7,745,085,847
Sector Rank: 30 out of 36
(lump sum over 3 years to 31 July 2019)
Overall Rank: 1020 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 824 at 31 July 2019
( -6.24% annual compound return)
R100 per month since 31 July 2016 was worth R 3186 at 31 July 2019
( -8.06% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:16 SEP 2002 Holdings:14
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
GROWPNT (Real Estate Investment Trusts)53,979,5331,304,685,313 16.85 %
U-SBKIMM (Money Market)246,909,324248,343,969 3.21 %
CASH (Cash on call)0-1,077,948 -0.01 %
TOTAL R1,551,951,33420.05%

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