The Pivotal Fund Ltd (PIVJ)

Pivotal is a development-focused investment company listed on the JSE main board, focusing on delivering sustainable capital returns through A- grade property developments and investments in South Africa and other selected countries. Pivotal's portfolio consists of geographically well diversified assets across South Africa and a growing investment base internationally. The property portfolio is divided into completed income producing properties and developments (including property under development and land held for future development). Completed income producing properties consist of well-located retail centres in established and expanding nodes and A-grade office precinct developments, which are enhanced by lifestyle elements such as piazzas, coffee shops and gyms. Pivotal focuses on creating sustainable value for its investors by achieving above average portfolio growth through its extensive development pipeline, international investments and active management of its existing portfolio. To ensure long-term sustainability and high tenant retention, the A-grade nature of the properties is maintained by continuous re-investment through preventative maintenance, as well as with regular upgrades and refurbishments. As at 31 August 2016, Pivotal's directly owned portfolio and indirect property portfolio was valued at R12.3 billion and R0.9 billion respectively.