Market Wrap - Stock pick — Investec Property
Nesi Chetty from Stanlib chose Investec Property Fund as his stock pick of the day. "It's a company that we've liked for a while, Investec property fund, it's one of the main defensive SA portfolios of retail assets, close to around 17bn. They have done well to diversify into the UK logistics market and also build a very good logistics platform in Europe. They bought out their partner in the logistics platform quite recently. They are one of the few companies that are able to do a capital raise in the market as well. They are yield accretive on the nav and earnings basis on day one of the transaction. This is a company that we like and this is a long term buy within the property sector."