Financial Information |
| The distribution for the 2008 financial year increased to 169,98 cents per linked unit, an increase of 18,28% over the distribution for the previous financial year. This pleasing performance was achieved in a deteriorating and difficult economic environment and is the result of the successful implementation of the group's strategy over the past six years. |
| The group distributes no less than 99% of investment income to unitholders in the form of interest on the debenture component of linked units. Investment income comprises net income per the income statement excluding items relating to the disposal or revaluation of investment assets, and the operating results of non-group entities which are consolidated into the group accounts (currently only The Resilient Unit Purchase Trust and BEE SPV). The distribution to linked unitholders thus comprises: |
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net property rental income (excluding adjustments for the amortisation of lease escalations) |
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distributions accrued on listed equity investments proportional to the period for which these investments were held |
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administrative expenses (including asset management fees paid) |
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interest incurred in the financing of the investment portfolio (excluding adjustments to the market value of interest rate hedges) |
