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Johannesburg - Vividend Income Fund [JSE:VIF] has declared an interim maiden distribution of 9.96 cents per linked unit for the six months ending in February.
Net rental income from properties was R6.9m. Operating profit was R1.086m. The fund debuted on the JSE in November last year.
Vividend said its property portfolio performed in line with expectations with no reversions, vacancies or defaults in the period under review.
"Delays in the transfer of both the Owl Street, Millpark and Roggebaai properties did have a negative impact on net rentals generated by the portfolio; however, this impact was offset by higher-than-anticipated interest income earned on money market investments.
"Listing costs were substantially higher than anticipated, due to additional placement fees payable on the allocation of certain linked units," it said.
Investment properties acquired during the period stood at R319m.
On its prospects, the fund said it continued to investigate a stream of opportunities that fell within its primary scope of targeting value and value enhancing opportunities within the retail, commercial and industrial property sectors of SA.
Net rental income from properties was R6.9m. Operating profit was R1.086m. The fund debuted on the JSE in November last year.
Vividend said its property portfolio performed in line with expectations with no reversions, vacancies or defaults in the period under review.
"Delays in the transfer of both the Owl Street, Millpark and Roggebaai properties did have a negative impact on net rentals generated by the portfolio; however, this impact was offset by higher-than-anticipated interest income earned on money market investments.
"Listing costs were substantially higher than anticipated, due to additional placement fees payable on the allocation of certain linked units," it said.
Investment properties acquired during the period stood at R319m.
On its prospects, the fund said it continued to investigate a stream of opportunities that fell within its primary scope of targeting value and value enhancing opportunities within the retail, commercial and industrial property sectors of SA.
