23 April 2019 - 05:02The head of listed property funds at Stanlib, Keillen Ndlovu, says the sector has been held back by a weak economy. Picture: FINANCIAL MAIL
But general equity analyst Keith McLachlan said on Thursday that, excluding some of the JSE’s largest counters — Naspers, Richemont, Anglo American and BHP Billiton — the Top 40 Index was up only 2.5% year to date. The index lost 25.26% based on share-price declines and dividends in 2018. It was held back largely by the performance of four companies within the Resilient group stable, which all came under pressure in January 2018 following a R120bn selloff of their shares. The companies include Resilient, Fortress, Nepi Rockcastle and Lighthouse Capital.The companies had accounted for 40% of the sector.
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