(The following press release from Sanlam Investment Management was
received by e-mail. The sender verified the statement.)
SANLAM'S AFRICA PROPERTY FUND TO LAUNCH AT END MARCH
Johannesburg, 11 February 2013: Sanlam's<http://www.sanlam.co.za> pan
Sub-Saharan Africa Real Estate Fund will launch at the end of March. The fund
will allow local and international investors to invest in high quality retail
and commercial real estate across select Sub-Saharan African countries.
Johan van der Merwe<http://www.linkedin.com/in/johanvandermerwe>, CEO of Sanlam
Investments says that the timing for the fund launch is opportune, "While the
majority of the developed world is struggling to find yield, the African
continent currently has seven of the top 10 growing economies in the world.
This creates a unique opportunity for the Sanlam Group to take advantage of its
positioning and provide the investor community with a suite of products that
facilitates participation in these markets. This fund aims to take advantage of
the favourable supply and demand imbalance for quality real estate across the
subcontinent, as well as its strengthening demographics and resultant return
He said the fund forms an integral part of the Sanlam growth strategy into
Africa and takes advantage of the group's large, established footprint which
currently has substantial businesses in 11 key countries across the African
Thomas Reilly, CEO of Sanlam
nvestments/Our+Businesses/Sanlam+Properties+%28SP%29/>, says the problem for
the sophisticated investor to date has largely been to find an internationally
acceptable product to access this growing market. This fund has been structured
to the highest international standard to provide an acceptable platform for
both local and international investors to tap the growth potential of the
Sub-Saharan African real estate market. "It has taken over two years of hard
work to finalise and we have been able to secure a strong pipeline of select
assets with attractive returns. Investors will benefit from the first mover
advantage created by the launch of this fund.
"We intend listing the fund from inception on the Stock Exchange of Mauritius
and will target double digit US Dollar investor returns. Given the fact that
the fund assumes little or no development risk, these returns are proving to be
attractive to investors, particularly when taking into account the lowered risk
profile of the fund."
Sanlam expects to grow a portfolio in excess of US$500m over the medium term
with the bulk of initial investors expected to be sourced from the US and
Southern African investor markets. It plans to close the initial capital
raising process on 31st March with the target audience being the larger
institutions in the savings industry. The fund excludes investments in South
African real estate.
For more information on the fund contact Michelle Marais at Sanlam,
firstname.lastname@example.org<mailto:email@example.com> or 011 778 6260.
About Sanlam Investments
Sanlam Investments is one of the three core clusters within the Sanlam group
and consists of 15 specialised investment and wealth management businesses
offering individual and institutional clients access to comprehensive expertise
within one company. Each business within the Sanlam Investments cluster
functions as an entrepreneurial entity with a shared focus on delivering
leading performance and exceptional client service. This is achieved by
instilling passionate ownership as an intrinsic value among the people working
at Sanlam Investments.
It is based in Cape Town, with a strong presence in sub-Saharan Africa and
footprints in the United Kingdom and elsewhere in Europe, as well as in the
United States. Its diverse client base includes retirement funds, corporations,
financial institutions, individual investors, governments and government
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