Economy Minister Aiyaz Sayed-Khaiyum

The Unit Trust of Fiji which has become one of the major investment institutions is expanding into the regional market.

Economy Minister Aiyaz Sayed-Khaiyum says their reputation in managing the funds well and the creativity used in offering their product has attracted some regional countries.

The review report on the Unit Trust of Fiji 2016 Annual Report was unanimously agreed to in parliament this afternoon.

Economy Minister Aiyaz Sayed-Khaiyum says the Unit Trust of Fiji has the potential to expand to other Pacific island countries for larger sums of investment.

“Their partners include currently there is an investment by the Samoan National Provident Fund, they have invested about a little over $8m in UTOF, the Unit Trust of Samoa has invested about $7.5 m, the Samoan Parliamentary Pensions scheme has invested about $800,000 and the Vanuatu National Provident Fund has invested around $5m in Unit Trust of Fiji and just having a brief discussion in passing with the chair just a couple of weeks ago there is obviously lot more room for expansion in the other Pacific Island countries and indeed for larger sums of investments in Unit Trust of Fiji “.

The Opposition believes there should be more awareness on the work carried out by the Unit Trust of Fiji.

The Unit Trust of Fiji is also expanding locally and plans to build a multi storey building for office space in Suva.