Texton Property Fund are betting the fund’s future growth on ‘tight management’, as the property counter announced a distribution growth of 85, 47 cents up by 10.6% for the year up to June 30th.
Investors from Texton Property Investments purchased the management company of Vunani Property Fund for R117million last year, followed by a subsequent board reshuffle which Texton claims the benefits of this shakeup have been evident.
Benefits of the report for the financial year includes the fund increasing its acquisition activity by 40% in comparison to the previous year, which has been said to enhance the portfolio quality and income sustainability.
