A real estate investment trust, or REIT is a collective investment scheme whereby funds from investors are pooled and invested towards a specified goal as set out in the investment objective of the fund. In addition, a REIT is a fund that invests (via funds raised from investors) in a portfolio of real estate assets or real estate-related assets. These real estates generate income from rent collected from tenants, which is then, net of expenses, distributed to investors at regular intervals. A REIT may be listed or unlisted.
Pacific Trustees to act as custodian of REITs asset namely:
- All asset must be registered in the name of the trustee.
- For listed shares/bonds where certificates are not issued, the CDS accounts must be opened in the name of Pacific Trustees.
- Trustee is a party to all documents. As such, Trustee must ensure that all original documents are in its custody.
- To ensure the insurable amounts commensurate with valuation reports
- Trustee is the sole signatory to all these accounts:-
- Trust account Income
- Distribution account
- Unclaimed Money account
- CDS account and scripless securities trading account
Pacific Trustees is equipped operationally with the manual and procedure with experience team to support and enhance on REIT. We have been appointed as Trustee for KIP REIT and Atrium REIT where the total funds/assets are approximately RM 800.0 Million.