WATCH: Stock pick — Vukile Property Fund

Nesi Chetty from Momentum chose Vukile Property Fund as his stock pick of the day.

“Vukile is a company that we have liked for a while, we think they have a very defensive portfolio and with that they are trying to supplement it with international business. This results in around 28% of net operating income now comes from Spain. Within the last six months they have done four acquisitions, where they bought Unibail-Rodamco-Westfield assets, which is giving them good offshore growth. The distribution per share is between 7.5% and 8.5%, and it is on an attractive forward yield of close to 9.4%.”