THE
LESOTHO UNIT TRUST – A GROWING INVESTMENT VEHICLE
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The Lesotho Unit Trust was launched in August 2001 as the primary mechanism to enable Basotho investors to participate as shareholders in the privatised former State Enterprises. The Lesotho Unit Trust is managed under contract by the Standard Bank Unit Trust Management (Pty) Limited who were appointed through a competitive bidding process. After modest beginnings and a cautious start, the Lesotho Unit Trust is beginning to register significant progress and has recently reached Fifty Million Maloti in its fund size. A sustained public awareness campaign has been mounted throughout Lesotho by the Unit Trust Management assisted by the Privatisation Unit to bring this new investment vehicle in Lesotho to the attention of various target groups. It is expected that new legislation will be tabled during the forthcoming sitting of the Lesotho Parliament to further formalise some of the benefits and concessions that are available within the Lesotho Unit Trust Scheme which is beginning to be an attractive investment vehicle. Discussions are at an advanced stage to include shares of the Lesotho Brewing Company in the Lesotho Unit Trust in addition to those of Lesotho Bank ’99 and Aon Trust Lesotho which are already in the Trust. Other privatised companies are being considered for inclusion as they establish a track record of stability and profitability. The Central Bank of Lesotho exercises a regulatory role over the operations of the Lesotho Unit Trust under the Collective Investment Schemes Regulations (2001). Privatization Unit Maseru 21 May 2003 |
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Designers