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Dividends Declared For Fijian Holdings Managed Funds
Fijian Holdings Unit Trust (FHUT) FHUT declared an interim dividend of 1.34 cents per unit for the period ended 31 December 2009. A total of $606,557 was paid as interim dividend to all unit holders holding at least 500 units for this period. FHUT aim was to maintain its interim dividend payout rate from past years and this announcement reflects the hard work of Fijian Holdings Trust Management Limited (FHTML) FHUT Fund Manager, against a challenging environment. Moving forward, we expect the challenge of sourcing the right investment for the Fund i.e. investment that deliver the appropriate dividend and capital return, to increase and we will be working closely with our stakeholders especially the Fund Trustee to acquire the right investment. The closure of FHUT registry was on 31 December 2009 and dividends will be paid out to all eligible unit holders on 31 January 2010. We have tabulated below a summary of the interim dividend paid out by FHUT for the last three years. The investment portfolio of the Fund as at 31 December 2009 totaled $29.66 million. It is currently spread over locally listed and unlisted companies, term deposits and Government guaranteed bonds. Unit holders are to note that from 1 February 2010, FHUT will also move to electronically stored certificates whereby new and current investors will only be issued a receipt for any purchases of units. A statement will be forwarded to all unit holders every six months to advise them of their unit holdings with FHUT. Also, in terms of redemption, if unit holders do have the certificates that were issued prior to 1 February 2010 they are requested to bring in these certificates for our file references however specific redemption forms have been designed to facilitate redemption requests under the electronic unit certificate trading of FHUT. Fijian Holdings Property Trust Fund (FHPT) Fijian Holdings Property Trust Fund declared an interim dividend of 2.0 cents per unit. The dividend announcement is a positive result for FHPT as we continue to maintain occupancy level in an oversupplied property market without affecting the returns to unit holders. The challenge moving forward is to find the right tenants for our building to achieve our target of 100% occupancy for the Ra Marama building by the end of May 2010. With increased plethora of vacant spaces in the Suva CBD, FHPT stakeholders will have to find innovative ways to achieve this ambitious target. The good news for FHPT investors is that all current tenants of the buildings during the last six months have agreed to renew their leases for the next three years without substantial changes in their current lease terms and conditions. A total of $223,822 was paid to all unit holders holding at least 1000 units as at 31 December 2009 on 31 January 2010. We have tabulated below a summary of the interim dividend paid out by FHPT for the last three years. FHPT offers investors a unique alternative investment product to diversify their portfolio into sections of the property market that would be difficult for an ordinary investor to invest in. FHTML would like to reassure the unit holders that Fijian Holdings Unit Trust and Fijian Holdings Property Trust Fund continue to remain a relatively affordable investment product for both institutional and retail investors and we aim to continue to provide a competitive return on your investments with us.
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