SEARCH

Home Contact us Sitemap

 
     
 

 
 

  Am I a Unitholder ?

 
 

 
 
 

Home  > FAQs

 
 

 Frequently Asked Questions

 
 

  1. What is Employees' Real Estate Investment Trust (EREIT)?
  2. How did I become a Unitholder in EREIT?
  3. What is the duration period of the Trust ?
  4. Where does the Trust invest its money?
  5. Will the Unitholders be given loan facilities ?
  6. How Unitholders will be informed on the financial performance of the Trust?
  7. What happen if Unitholders have changed their contact details?
  8. How can  units be  redeemed ?
  9. What happens to the unit of a deceased Unitholder ?
  10. Can Unitholders appoint a Beneficiary ?
  11. In case plots of land are available for sale to the general public, will priority be given to Unitholders?

1.   What is Employees' Real Estate Investment Trust (EREIT) ?

Employees Real Estate Investment Trust is a Unit Trust, duly authorised by the Financial Services Commission, which was launched by the Government of Mauritius in 2005. Its aim is to democratise land ownership by giving citizens of Mauritius a direct stake in the productive resources of the Mauritian economy. The Trust has acquired 500 Arpents of land for development purposes.

Top of page

2.   How did I become a Unitholder in EREIT ?

The initial Unitholders were all employees as defined under the National Savings Fund Act, as at 30 June 2004.  The Register of Unitholders initially consisted of 348,129 members. Each Employee has been allotted one (1) unit of EREIT free of costs and charges.

 3.   What is the duration period of the Trust ?

 The Trust has been operational since 26 April 2005 and will terminate on the day the Trustee or the Minister of Finance with the consent of the Financial Services Commission shall decide to terminate the Trust.  

Top of page                

4.   Where does the Trust invest its money ?

 Investment is carried out by the Manager in immovable properties, property development, financial assets and equity investments in terms of acquiring, holding, developing and selling real estate properties. 

Top of page                

5.   Will the Unitholders be given loan facilities ?

No such facilities are available, the objectives of the Trust are mainly to:-

 (a)  Purchase, lease or otherwise acquire land, manage, develop and sell, transfer or dispose of land

 (b) To do such things as to promote welfare and benefit of Employees

 (c) Invest in authorised investments such as immovable property, Corporation, Societe, Trust, immovable property, bank deposits and treasury bills and any such other investment as may be permitted by the Employees Welfare Fund Act. 

Top of page                

6.  How Unitholders will be informed on the financial performance of the Trust?

The Manager's Reports and the Audited Financial Statements of the Trust for each financial year are published in at least 2 daily newspapers and a copy of the auditor's report are available for inspection at Prime Partners Ltd. The Manager's Reports and the Audited Financial Statements for previous years are available here.

Top of page                

7.  What happens if Unitholders have changed their contact details?

The Unitholder may send a letter or complete this Form and send it over together with certified true copies of your National Identity Card and a recent utility bill (not older than 3 months) to Prime Partners Ltd.

 Top of page                

8.  How can units be redeemed ?

As per the provisions of the Trust Deed, the Units are redeemable as from 31 March 2010. A  Unitholder may send a redemption request or visit the office of  Prime Partners Ltd, the Registrar and Transfer Office to initiate the redemption process.  A redemption cheque is made payable to the order of the Unitholder. The redemption price will be equivalent to the Net Asset Value per Unit (NAV) less redemption charges, to be calculated by the Manager as at the last working day of the previous month.

Top of page                

9.  What happens to the unit of a deceased Unitholder ?

In case of death of a Unitholder, the Manager shall within 60 days after becoming aware of that event compulsorily redeem the unit. A Redemption form duly-filled should be submitted to Prime Partners Ltd. A redemption cheque is made payable to the order of the Estate of the deceased unitholder.The redemption price will be equivalent to the Net Asset Value per Unit (NAV), to be calculated by the Manager as at the last working day of the previous month.

Top of page                

 10.  Can Unitholders appoint a Beneficiary ?

A Beneficiary may be appointed by the Unitholder. A Beneficiary form duly-filled should be submitted to Prime Partners Ltd.

Top of page                

11.  In case plots of land are available for sale to the general public, will priority be given to Unitholders?

 The main purpose of the Trust is to maximise revenue. No provision has been made for priority/discount to be given to Unitholders in case plots of land are available for sale to the general public.   

 Top of page

 
 

 
 
  Copyright 2010 EREIT Management Co Ltd | Home | Disclaimer | Sitemap | Contact Us |

Designed by WEB Mauritius