Pref shares are back, baby!

It’s an as­set class that’s of­ten ig­nored. But with prop­erty stocks un­der pres­sure, pref­er­ence shares are back in vogue

Financial Mail - - MONEY&INVESTING - Joan Muller mullerj@fm.co.za

It’s no se­cret that listed prop­erty has com­fort­ably out­per­formed gen­eral eq­ui­ties, cash and bonds over the past 10 years, de­liv­er­ing an im­pres­sive av­er­age 14%/year to­tal re­turn.

At the same time, the SA listed prop­erty in­dex in­creased sig­nif­i­cantly in size: from 20odd coun­ters with a com­bined mar­ket cap of

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