South Africa's Stanlib seeks property returns abroad as domestic growth slows

Thabo Dloti, CEO of Stanlib. Credit:

A struggling economy is spurring South Africa’s largest real-estate investor to buy the stocks of property companies that are expanding outside the continent’s most developed market.

Returns in the FTSE/JSE South Africa Listed Property Index may slow to 12 percent in 2015 after an “exceptional” 2014, according to Keillen Ndlovu, head of listed property funds at Stanlib Asset Management Ltd. The gauge rallied 19 percent last year, beating an advance of 7.6 percent in the benchmark FTSE/JSE Africa All Share Index (JALSH) and 18 percent increase in the 385-member dollar-denominated S&P Global REIT Index.

Read more: Stanlib Seeks Property Returns Abroad as S. Africa Slows – Bloomberg.