Authorized Trustee Investment Order
The FHUT was declared a ‘Trustee Investment’ on the 26th June, 2003 which enables institutions whose investment choices are restricted by the Trustee Act of Fiji (1978) to able to be invest in the FHUT.
The Trustee – FHL Trustees Limited
FHL FML has engaged FHL Trustees Limited (hereafter referred to as ‘the Trustee’ or ‘FTL’) as the Trustees of FHUT since April 2012. The directors of the trustee company are Mr. Inia Naiyaga, Mr. Emitai Boladuadua and Mr. Navin Raj.
The Trustees’ main responsibility is to exercise due care and diligence in protecting the rights and interests of all Unit holders and holding the assets of the unit trust on behalf of the Unit holders. The Trustee carries out its fiduciary obligations by abiding with the requirements of the Scheme Deed. The Trustee has assisted in the review of this prospectus to ensure that its contents are consistent with the provisions of the Scheme Deed.
The Trustees have no current or pending material litigation and arbitration filed as at the date of this Prospectus.
Mr. Inia Naiyaga – Chairman
Mr. Inia Naiyaga is a Chartered Accountant and was a Central Banker for 40 years. He retired as the Deputy Governor of the Reserve Bank of Fiji in May 2014. Prior to this, he also served as the Deputy Governor of the National Reserve Bank of Tonga for 5 years and was a member of the Executive Management team of the Reserve Bank of Fiji for 25 years. After his retirement from the Reserve Bank of Fiji, he served as an Executive Director of the Fiji Development Bank from March to November 2017 and as a Managing Director of Sun Insurance from June 2018 – 31st December 2021. He is a life-member of the Fiji Institute of Accountants (CA), a fellow of the Fiji Institute of Bankers, and is a member of the Australian Institute of Company Directors. He is also a former President of the Fiji Institute of Accountants, former President of the Institute of Internal Auditors (Fiji Chapter) and former President of the Fiji Bank Employees Union. He has also served as a Director of the Energy Fiji Limited, a Director of Transparency International (Fiji Chapter) and Chairman of the Insurance Association of Fiji. Currently, he is a Director of Sun Insurance, Fiji Development bank, National Fire Authority and a Member of the University of the South Pacific Finance and Resources Committee.
Mr. Emitai Boladuadua – Director
Mr. Emitai Boladuadua holds a Bachelor of Science Degree and a Diploma in Education from the University of New England, Armidale, Australia. Mr. Boladuadua was a civil servant for 38 years, 25 years of which were in the Ministry of Education. He served as Permanent Secretary in 4 Ministries including Home Affairs & Immigration, Education and Foreign Affairs & External Trade. For 4 years he served as Fiji’s High Commissioner to the United Kingdom and at the same time served as non-resident Ambassador to the Republic of Ireland, Denmark, Germany, Israel, Egypt and the Holy See. He also served on Boards of the LTA Board, FIT Council/FNTC Council and USP Council. He was Chairman of the Cakaudrove Provincial Council from 2008 to 2013.
Mr. Navin Raj – Director
Mr. Navin Raj was a former Sales and Marketing Manager at Fiji Sugar Corporation Limited (FSC). He has previously served as the Executive Director for Fiji Institute of Accountants (FIA) and was a former School Principal at Jai Narayan College (formerly known as Indian College). He also sat on the FHL FML Board as a Director. Currently, he is a General Manager at Automated Building Services. Mr. Raj holds a Master’s in Business Administration (MBA), Post Graduate Diploma for Advanced Analytical Skills (PGDAAS), Post Graduate Certificate in Education (PGCE) and Bachelor of Science (Physics & Chemistry) from the University of the South Pacific.