The Developer's Digest, May - June 2015 Issue

FOCUS ON POLICY ‘WHAT YOU DID NOT KNOW ABOUT REITS’ FOCUS ON POLICY By Kenneth Kaniu Chief Investment Officer for East Africa, STANLIB Kenneth has more than ten years fund management experience garnered both in East Africa and Europe. Kenneth has been directly involved in investment strategy, portfolio management and product development covering listed equities, private equity, direct and listed property, fixed income an money markets sectors. He has advised pension funds, insurance companies, individual high net worth and institutional investors across Eastern Africa. WHAT IS A REIT? • A collective investment in the form of a trust which seeks to invest in a diversified pool of real estate assets; • It enables an investor to a return from a diversified portfolio of assets; • Established under a trust deed and structured as a trust dividend into units. It is divided into units which can be freely traded in a stock exchange if listed; • Have a lower risk profile than stand-alone direct property investments and more liquidity; • Must have a trustee and the REIT Manager who are licensed persons. Kenya Property Developers Association... Development brings Development! Kenya Property Developers Association... Development brings Development! 3 4