The SA-listed property index (Sapy) shed 16.5% between end-October and mid-January following bond market weakness and the dismissal of former minister of finance, Nhlanhla Nene.
Figures released last week by Catalyst Fund Managers show that the Sapy index has since recovered most of these losses. For the year to date (January 1 to March 31), listed property delivered a total return of 10.1%, comfortably ahead of the all share index's 3.87% total return. Bonds notched up 6.55%, and cash, only 1.68% in the same three-month period.
In the 12 months to end-March, cash was the best-performing asset class, with a total return of 6.47%, followed by listed property at 4.57%, which was still slightly ahead of the all share index's 3.17%. Bonds lagged behind in the 12-month period with a negative total return of -0.61%.
Source: Business Day
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