The Trust was created in 1967 to enable unitholders to participate mutually in a professionally managed scheme investing in real property without prejudicing their tax exempt status and freeing them from the burden of management. The Trust itself is an unauthorised, tax exempt and open-ended, property unit trust.
The investments of the Trust consist primarily of freehold, leasehold land and buildings and it is the policy of the Committee of Management to spread these investments over a wide range of properties, so as to maintain a balanced investment portfolio with capital growth potential and beneficial yield. Properties may also be acquired, developed or otherwise dealt with by way of joint ventures.
The Trust is permitted to borrow. The amount borrowed, including guarantees and indemnities, must not exceed a maximum of 30% of the total assets of the Trust.
In January 2001, the Fund changed Property Managers and Hermes Real Estate Investment Management Limited became the new Real Estate Investment Management and Hermes Investment Management Limited, the Trust Manager; at the same time the Trust changed its name from Hill Samuel Property Unit Trust (HSPUT) to Hermes Property Unit Trust (HPUT).
The information in this section of the website has been issued by the Committee of Management (the "Committee of Management") of the Hermes Property Unit Trust (the "Trust") in the United Kingdom. The Hermes Property Unit Trust Committee of Management is authorised and regulated by the Financial Services Authority. The Trust is categorised as an unregulated collective investment scheme, the promotion of which in the United Kingdom is restricted by section 238 of the Financial Services and Markets act 2000 ("FSMA"). Units in the Trust may only be promoted to persons specified by the FSA as defined under section 238 (5) of the FSMA. An unregulated collective investment scheme may not be promoted to a member of the general public. If you are such a person, you should leave the site immediately.
