The trusts investment objective is to generate both income and capital growth through investing principally in real estate. Deacons 2016 listing by introduction eveready ipo 2006. Stanlib fahari income reit is the first income real estate investment trust scheme reit in kenya. This translates to distributable earnings of 42 cents per unit june 2018. Acquisition completed on 29 may 2018, stanlib fahari i reit successfully completed the acquisition through an spv structure of a grade a, 3 storey office building situated in lavington, nairobi. Stanlib fahari ireit reaps ksh193mn from kenyas real. Stanlib fahari i reit abridged prospectus download stanlib fahari i reit full prospectus download stanlib fahari i reit fact sheet. The stanlib fahari i reit 47 listed two years ago, shed 47 per cent of its value last year, to close the year at sh11. Apr 24, 2020 the stanlib fahari ireit is kenyas first real estate investment trust reit. The fusion development real estate investment trust a. Nairobi securities exchange in 2016 by stanlib dubbed as the fahariireit. Stanlib fahari income reit launched this week, stanlib kenya launched the countrys first real estate investment trust the fahari i reit. Kenneth masika whose contract came to an end on 30th june 2018.
The fund aims to provide investors with a steady stream of income and capital growth by investing at least 75% of its total asset value in real estate in strategic locations within kenya with. Class fund performance is uoted in us dollar terms please refer to the prospectus of this scheme for more details a copy of which is available on reuest from stanlib. The fund aims to provide investors with a steady stream of income and capital growth by investing at least 75% of its total asset value in real estate in strategic locations within kenya with a maximum of 25% invested in cash and cashlike instruments. Fund overview global reit markets were broadly flat as the negative effect of a rising yield on us 10year bonds the yield rose about 25 bps, ending the year at. Explore the latest news, articles and thought leadership from stanlib. Stanlib fahari incomereit opens the week as top gainer. Ndungu, investor should consider a longterm buy for stanlib s fahari i reit. The reit managers annual report and audited consolidated financial statements will be available on the stanlib fahari i reit website at. Units of the stanlib fahari i reit are selling for sh20 for a minimum of 1,000 units, which translates into a minimum investment of sh20,000. The stanlib fahari ireit aims to provide investors with a steady stream of income and capital growth by investing at least 75% of its total asset value tav in real estate in strategic locations within kenya with a maximum of 25% invested in cash investments or cashlike instruments. The information below relates to the stanlib global property fund, a class fund of stanlib funds limited. Stanlib fahari reit earnings note here cytonn investments. Stanlib fahari i reit annual report and financial statements for the year ended 31 december 2018 page 4. Stanlib fahari i reit annual report and financial statements for the year ended 31 december 2018 page 6.
However, both stanlib fahari i reit and home afrika closed the. The chairmans statement on behalf of the reit managers board of directors, it gives me great pleasure to present. We are of the view that the stanlib fahari reit i reit is a hold with a target price of kshs 9. Stanlib fahari ireit is kenyas first real estate investment trust reit providing investors with a steady income stream and capital growth. The i reit will serve to deepen the kenya capital market and become a mechanism for spreading wealth and entrenching an investment culture which is an important component of kenyas vision 2030. Ipo through a prospectus and is governed by the nse listing. Change of directors of the reit manager, stanlib kenya limited the following directors of the reit manager resigned or were appointed during the year under. Stanlib fahari ireit kenya has declared a dividend of. Nai financials, including income statements, growth rates, balance sheets and cash flow information. As such, stanlib kenya is responsible for all elements of the fund. Stanlib is a south african asset manager based in melrose arch, johannesburg which is a wholly owned subsidiary of jselisted liberty holdings limited. Stanlib fahari i reit has reported sh193 million net profit for the period ended december 31, 2018, a per cent jump compared to same period the previous year. Stanlib fahari ireit reit will be held at the auditorium, all saints cathedral, kenyatta avenue, nairobi, kenya on friday, 20 april 2018, commencing at 10. The objective of the stanlib global reit index feeder etf is to track the ftse epranareit global reit index the index as closely as possible, in south african rand.
Good morning, now you can download the stanlib fahari ireit prospectus on our website. Global reit markets were broadly flat as the negative effect of a rising. This week, stanlib released the results of the fahari reit ipo offer that was launched in october they had aimed to raise between kshs 2. This annual general meeting agm is a mandatory yearly gathering of the companys interested shareholders. The stanlib fahari i reit was kenyas first reit when it was launched it. The fund invests at least 75% of its total asset value tav in real estate in strategic locations in kenya. In the same year, stanlib s wealth business was integrated with asset management functions. Stanlib fahari i reit condensed unaudited results for the 7 months ended 30 june 2016 the board of directors the board of stanlib kenya limited is pleased to present the condensed unaudited results of the t rust for the period ended 30 june 2015. Stanlib fahari ireit appoints new acting ceo real estate. Prospectus dated 17 july 20 registered with the monetary authority of singapore on 17 july 20.
This prospectus is issued under the provisions of the capital markets real estate. Stanlib launches kenyas first real estate investment trust. Supplement to the prospectuses and summary prospectuses for. The stanlib fahari i reit aims to provide investors with a steady stream of income and capital growth by investing at least 75% of its total asset value tav in real estate in strategic locations within kenya with a maximum of 25% invested in cash investments or cashlike instruments. To table the proxies and note the presence of a quorum. Stanlib bought a new commercial building at a price of kes 850m.
Fred comes after stanlib s fahari i reit that launched last year. History as stanlib launches kenyas first reit ipo daily nation. The trust will own eligible real estate investments that are income generating through rental income. However, earnings from operations declined by 14% to ksh 127. A simple and easy way to grow, protect or earn an income from your savings by investing cash in a unit trust fund, in exchange for units. Fahari i reit s unit price remained stable until april when it rose to kshs 11. Stanlib fahari i reit earnings update h1 2019 1 2nd august 2019 valuation. The fund is a feeder fund and as such it invests in the ishares global reit etf. You can now invest in kenyas second reit prospectus pdf, that. Stanlib is a south african asset manager based in melrose arch, johannesburg which is a. May 25, 2017 property fund stanlib fahari i reit is set to invest at least sh1. Epranareit global reit index the index as closely as possible, in south african rand.
Stanlib fahari incomereit fahr profile on capital fm. Traditionally, government bonds are referred to as riskfree. Two assets were obtained in midyear 2016, therefore, accounting for only 6 months of rental income in 2016 versus fullyear in. Ke5000003656 stanlib fahari income reit is the first income real estate investment trust scheme reit in kenya. Our corporate information registered office of the reit 1st floor, liberty house nyerere road p. The stanlib fahari i reit is available for purchase to the general public, while the development reits are restricted to professionals only. Buying reits directly on the nse can be done in the same way you can buy shares.
This week, stanlib released the results of the fahari reit ipo offer that. Stanlibs real estate vehicle drives investors earnings up. The stanlib fahari ireit allows you to invest in prime property for as little as kes. Oct 22, 2015 capital markets authority ceo mr paul muthaura left, stanlib regional director james muratha centre and stanlib fahari i reit ceo mr anton borkum at the nse head office on october 22, 2015. Following the closing date of receipt of applications and payment for units in the stanlib fahari i reit on wednesday november 18, 2015, stanlib kenya limited the issuer is pleased to. Reit prospectus prospectus for reit real estate investment trust services s team is the global leader in writing real estate prospectuses for reits. Stanlib fahari income reit tops the nse as standard group. Nov 28, 2015 this week, stanlib released the results of the fahari reit ipo offer that was launched in october they had aimed to raise between kshs 2. Features fullscreen sharing embed analytics article stories visual stories seo.
Stanlib operates in nine african countries, and in key developed markets globally. Oct 30, 2015 the stanlib fahari real estate investment trust reit was opened on october 22 nd, coinciding with the nairobi securities exchange nse, now the fourth african bourse to launch the reits market. The investors will gain from eligible real estate investments owned by stanlib fahari i reit who will invest in properties that. South africa has traded in reits for the last 10 years, while ghana has had access to reits since 1994 and nigeria 2007. Nozipho makhoba as the acting chief executive officer of the stanlib fahari i reit fahari i reit effective 1st july 2018. This information must be preceded or accompanied by a prospectus in order to understand fully all of the implications and risks of the offering. If you are a longterm investor, looking to make good returns over the long haul, here is an assessment of the stanlib fahari i reit focusing on fundamentals.
Stanlib fahari income real estate investment trust. Understanding real estate investment trusts in kenya. Stanlib s formation was the result of the amalgamation of seven standard bank and liberty businesses in may 2002. This prospectus contains financial data for the fund through the fiscal year ended january 31, 2019. First pureplay china retail reit sponsored by a chinabased group.
About the stanlib fahari ireit stanlib fahari ireit. The stanlib fahari i reit is kenyas first real estate investment trust reit. Stanlib fahari ireit records a 32% increase in aftertax. Once this offer is concluded, units of the stanlib fahari ireit can only be traded through the nse.
Stanlib global reit index feeder fund fund information sheet what is the funds objective. In june 2006, 15 investment franchises were formed. The stanlib fahari i reit is the first and currently the only reit listed on the nairobi stock exchange. Growth in rental and related incomes, despite 2017 challenges of prolonged elections and interest rate capping, saw stanlib fahari i reit record a 32. Stanlib global reit index feeder etf minimum disclosure document as at 31 may 2018 what is the funds objective. Stanlib fahari i reit, kenyas first real estate investment trust reit, has posted a 12. A maximum of 25% of its tav is invested in cash investments and cashlike instruments. Stanlib fahari i reit is kenyas first real estate investment trust reit providing investors with a steady income stream and capital growth. Nov, 2017 stanlib fahari income was the top gainer of the day.
Stanlib global reit index feeder etf update at 31 august 2019 what is the funds objective. This is neither an offer to sell nor a solicitation of an offer to buy resource real estate opportunity reit. The stanlib fahari ireit was kenyas first reit when it was launched it. The fund aims to provide investors with a steady stream of income and capital growth by investing at least 75% of its total asset value tav in real estate in strategic locations within kenya with a maximum of 25% invested in cash investments or cashlike instruments. Feb 29, 2016 stanlib kenya is the asset manager of the stanlib fahari ireit, kenyas first reit listed on the nairobi securities exchange. Eveready east africa was the second gainer of the day with 7. Consequently, the market price of the units will be market driven and may not necessarily be equal to the net asset value of the stanlib fahari ireit. Prospectus the securities and exchange commission sec has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Stanlib reit goes for nse listing after attaining minimum.
We are of the view that the stanlib fahari reit is a hold with a target price of kshs. However, the i reit scheme may undertake secondary offers as and when the need arises. You can now invest in kenyas second reit prospectus pdf, that closes on friday this week. Stanlib fahari i reit is a subsidiary of stanlib, a panafrican multispecialist investment company with a presence in 10 african countries. Among the investors who have committed to invest in the stanlib fahari i reit is the international finance corporation ifc. May 24, 2018 the stanlib fahari i reit is the first and currently the only reit listed on the nairobi stock exchange. Stanlib fahari ireit is a closedended income real estate investment trust i reit. Stanlib fahari income real estate investment trust this document comprises a prospectus the prospectus relating to the stanlib fahari income real estate investment trust the stanlib fahari ireit and has been prepared in accordance with the. Stanlib fahari income real estate investment trust this document comprises a prospectus the prospectus relating to the stanlib fahari income real estate investment trust the stanlib fahari i reit and has been prepared in accordance with the capital markets act, chapter 485a the act, the capital markets real estate. Stanlib fahari i reit is a closedended income real estate investment trust i reit.
The company was formed in 2002 when liberty asset management libam and standard corporate and merchant bank asset management merged. Sell transcentury, buy fahari ireit for long daily nation. Any representation to the contrary is a criminal offense. Stanlib fahari i reit business brochure africa outlook issue 36. Listed real estate investment trust, stanlib fahari i reit, in march announced a % increase in net profit to ksh 193 million for the financial year 2018. The stanlib fahari ireit is kenyas first real estate investment trust reit. Financial statements 2016 ksh 000 2015 ksh 000 revenue 5,294 209,480 other income 54,850 87,346 112,546 160,844 increase decrease in property fair value 2,674 88,625.
This underlying fund tracks the index and aims to replicate the performance of. Stanlib global reit index feeder etf fund information sheet what is the funds objective. Liberty holdings limited integrated annual report 2012 pdf. Property fund stanlib fahari i reit has got regulatory exemption to extend a saturday deadline to acquire real estate worth a minimum value of sh245 million. News release cma extends stanlib fahari i reit selling window issue to be listed on 26 november, 2015 nairobi, november 10, 2015 investment company stanlib has extended the period in which investors may apply for the stanlib fahari i reit shares to november 18, 2015 from the original stated date of november 12, 2015. Stanlib fahari i reit reit will be held at the auditorium, all saints cathedral, kenyatta avenue, nairobi, kenya on friday, 20 april 2018, commencing at 10. An income reit is a real estate investment scheme which owns and manages income generating real estate for the benefit of its investors. The property has now been onboarded to the existing portfolio. Understanding real estate investment trust in kenya oraro and company advocates. A real estate investment trust, or just reit for short, is security investment vehicle that invests in real estate.
Stanlib global balanced fund class fund of stanlib funds limited geographical breakdown as a % of equity fund exposure as a % of equity 0 10 20 30 0 0 60 70 80. Stanlib global balanced cautious fund class fund of stanlib funds limited. Oct 22, 2015 news release nairobi securities exchange launches the reit market as stanlib kenya announces the first ireit public offer minimum investment for stanlib fahari ireit set at ksh20,000 october 22, 2015 this morning the nairobi securities exchange officially launched the real estate investment trust reits market at a ceremony. The stanlib fahari i reit allows investors to own a slice of the lucrative real estate segment and will be listed on the nse under the recently launched real estate investment trusts market segment. Jul 04, 2018 stanlib kenya limited stanlib has announced the appointment of ms.
The fahari i reit investors will benefit from a stable income. Stanlib fahari incomereit fahr realtime stock quote. Beijing retail reit is the first retail reit sponsored by an established homegrown retail retail property operator in the prc beijing hualian department store co. Stanlib ireit reports drop in operating profit to sh171. Reit offering memorandum offering memorandum for reit real estate investment trust services s team is the global leader in writing real estate offering memorandums for reits. The amalgamation of various unit trust ranges followed in 2004. Mar 29, 2018 stanlib ireit, a real estate investment trust, has reported that its property expense ratio remained unchanged at 34 percent for 2017 financial year while rental income rose by 12 percent yy to sh279.
Nozipho makhoba as the acting chief executive officer of the stanlib fahari ireit fahariireit effective 1st july 2018. Prospectus and product disclosure statement date of this offer document 22 july 2016 in relation to an offer of 414. Visit your local broker and request to purchase shares of the stanblib fahari i reit. Stanlib kenya limited stanlib has announced the appointment of ms. Stanlib fahari i reit fy 2017 results through 31st december 2017 vs. Stanlib, which is owned by south africas johannesburg stock exchangelisted liberty holdings, says its fahari i reit closed the period with revenues. Stanlib global reit index feeder etf update at 31 march 2019 what is the funds objective. Apr 20, 2018 stanlib fahari income reit was the top gainer of the day with 7.