Dipula Income Fund: Ridwaan Asmal
Ridwaan Asmal has been the Financial Director of Dipula Income Fund since September 2015.
Ridwaan Asmal has 20 years’ experience in listed property with specific skills in financial reporting and management, acquisitions, disposals, treasury and hotel property development. He started his career at Anglo American Property Services as a Management Accountant before joining Broll Property Group as group Financial Manager. Thereafter he worked at CORONIB Asset Management. In 2006 Ridwaan was appointed Financial Director of Hospitality Property Fund Limited. He joined Dipula as Financial Director in September 2015 and was appointed CFO in September 2015. He has a B.Com from the University of the Witwatersrand.
2015 – Present Financial Director, Dipula Income Fund
2006 – 2015 Financial Director, Hospitality Property Fund
2001 – 2006 Fund Asset Manager, Freestone Property Holdings
1998 – 2000 Group Financial Manager, Broll Property Group
1993 – 1998 Management Accountant, Anglo American Property Services
1990 – 1992 B.Com, Accounting and Finance, WITS
1985 – 1989 Matric, William Hills Secondary
About Dipula Income Fund: Dipula is a JSE-listed Real Estate Investment Trust (REIT) with a well-diversified R6.9 billion property portfolio comprising mainly retail assets (59% by GLA). Industrial and commercial assets account for 25% and 16%, respectively of the portfolio in terms of GLA. The portfolio spans all nine provinces of South Africa.
The company’s A and B shares accommodate different risk appetites with A shareholders receiving a preferred 5% growth in distributions while B shareholder receive the remainder, allowing good potential upside. Both shares rank equally in terms of voting and all other shareholder entitlements.
Dipula reported a revenue of R1.052 billion in 2017 with 41 employees.