Pfuma Fund, a Real Estate Investment Trust listed on the Victoria Falls Stock Exchange (VFEX), has announced its trading update for the period ended 31 March 2026. The Fund’s inaugural reporting period shows a stable performance, with a net asset value of US$46,878,223 and net property income of US$316,582.
The Zimbabwean property market remains resilient, functioning as an effective inflation hedge and store of value, supported by sustained urbanisation and diaspora demand. The Fund’s portfolio performance is anchored by its two seed assets, Hogerty Hill Centre and Chegutu, and investment income.
Pfuma Fund has declared an interim dividend of US$446,719, being 95% of distributable income, with a dividend per unit of 0.0948 US cents. The Fund expects to complete the acquisition of the Cork Road Quick Service and Casual Dining Centre in Q2 2026 and is on track to complete its 4 pipeline projects in 2026.
The Zimbabwean macroeconomic environment remains broadly stable, with tight monetary policy anchoring inflation and exchange rate expectations. The African Development Bank and International Monetary Fund project GDP growth for Zimbabwe of 4.5% and 5% respectively in 2026, supported by recovery in agriculture, construction, and mining.
Arctic Blue Asset Management (Private) Limited, the Fund’s manager, is optimistic about the Fund’s prospects, citing the resilience of the Zimbabwean property market and the Fund’s well-positioned portfolio. The Fund’s stable inaugural performance is a testament to its robust investment strategy and the strength of its underlying assets.
