SA Corporate is a Property Unit Trust (PUT) regulated by the Collective Investment Schemes Control Act No. 45 of 2002, and recognized as a REIT. SA Corporate distributes all of its non capital income to its unitholders, and the income retains its nature and is taxed in the unitholders hands. No withholding taxes are imposed in South Africa.
In terms of the Collective Investment Schemes Act, SA Corporate is managed by a licensed management company, SA Corporate Real Estate Fund Managers Limited, which receives a fee of 0.4% of enterprise value (market capitalization plus debt). SA Corporate Real Estate Fund Managers Limited is a subsidiary of Old Mutual Investment Group Property Investments Proprietary Limited, which is part of the Old Mutual Plc group, a FTSE 100 company with GBP279billion in assets under management. SA Corporate Real Estate Fund Managers Limited contracts with Old Mutual Investment Group Property Investments to provide asset management, property management and group secretarial functions.
Old Mutual Investment Group holds just under 25% of SA Corporate units. Other major unitholders include The Public Investment Corporation (a government pension fund), Wipken Trust and Sanlam Investment Management.
As at 30 June 2009 there were 6709 beneficial owners in the fund.
The fund offers excellent tradeability in terms of percentage and absolute values traded.