The SA Listed Property Index (SAPY) recorded a negative total return (-6.12%) for the month ended 31 December 2015. The yield to maturity (YTM) on the Long Term Government Bond Index weakended 119 bps to end the month at 9.77% (8.58% – 30 November 2015).
The listed property historic yield for the 38 property companies, Catalyst Fund Managers report data on, ended the month at 6.06%. Excluding non-income distributors (Pivotal, Attacq) and 100% offshore earnings focused companies (New European Property Investments (NEPI),
Rockcastle, New Frontier, Capco, IntuProp, Mas, Sirius, StenProp, Redefine International and Investec Australia) the market cap weighted historic yield of the remaining companies is 7.06%.
Read more here: Catalyst SA Monthly Report December 2015