Our financial track record
Managing risk and governance
About the artist
Annual general meeting
Share price information
34% investment in FirstRand
Royal Bafokeng Holdings
Directors and management
FNB represents FirstRand's retail and commercial activities in South Africa and the broader African continet.
RMB offers advisory, funding, trading, corporate banking and principal investing solutions.
WesBank represents FirstRand's activities in vehicle and asset finance in the retail,commercial and corporate segments.
Ashburton is the investment management business.
The FCC franchise represents group-wide functions
RMH PROPERTY PORTFOLIO
Benefits of core portfolio
Benefits of specialist model
Targets the more traditional and larger areas of South African property (principally office, retail and industrial property).
27.5% investment in leading South African property group,
Focuses on niche areas of the property sector.
34% investment in leading South African urban renewal group,
Propertuity Development Company.
Introduce best-of-breed specialist developers and managers focussed on a key niches in the property market.
Allows for geographic expansion & diversification of RMH’s total property portfolio.
Specialist models likely to achieve higher yields / faster NAV growth than the more traditional core model.
Greater value in owning in house development, asset management and property management given specialist requirements.
Niche opportunities are typically more difficult to scale however.
Ability for RMH to fund given lower liquidity from banks & private investors.
Creation of scalable development operation diversified across traditional property asset categories (office, retail, industrial).
Introduce independent and focussed property management to extract and increase value of group’s existing property portfolio in time such as MMI (FirstRand to follow own independent strategy).
Liquid vehicle to dispose of property interest in the future which will also provide material capital release for RMH operating companies.
Benefit to management team is sizeable capital base in an unlisted vehicle providing scope and opportunity to increase development potential of the portfolio.