Investec Property Fund wants to name itself after a stone | Business

Investec Property Fund , which oversees R35 billion in assets, is asking shareholders to approve a name change to Burstone Group, in reference to the name of a stone used to mill grain into flour.

The proposed name, unveiled through a SENS announcement for a circular, follows the successful internalisation of the fund’s asset management functions across SA and Europe, which was previously undertaken by Investec, it said in a statement.Shareholders gave their approval in May and competition approval was granted in June. Investec retains a 24% stake in the business.

IPF has R35 billion in gross assets under management, as well as about R5 billion in third-party capital, and directly owns a portfolio of 79 properties in SA valued at R14.6 billion at the end of March. These assets are in the retail, industrial and office sectors, and include the Balfour Mall.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Magudumana's property company sued for over R3 million it admits owing doctor – as judge alerts NPA | News24As Dr Nandipha Magudumana and her rapist killer boyfriend Thabo Bester prepared to flee SA, their property company dodged reimbursing a doctor over R3m for a home they failed to build – and now the judge hearing that case has alerted law enforcement.
مصدر: News24 - 🏆 4. / 80 اقرأ أكثر »