We have been investing client money in the South African listed real estate sector since the establishment of Catalyst Fund Managers in 2001. The investment team is well established with the three senior members being involved since 2001, 2004 and 2007 respectively. The senior members are also shareholders in the business. Together, the team has witnessed the local listed real estate sector’s evolution into a proxy for investment grade real estate. The South African listed Real Estate Composite Portfolio has outperformed the composite benchmark on an annualised basis at lower than benchmark standard deviation since inception.