Investment
Under the direction of the Board of Trustees and its investment committee prudent investment of funds are made to maximize returns, maintain sufficient liquidity to meet members' withdrawal and the operating costs of the Fund.
The current emphasis is to diversify investments in the best interest of the Fund avoiding undue risk.
Current Investment Projects and Proposed Projects by the Seychelles Pension Fund.
1.Commercial Development (Office/Shop Premises and Cinema) Pension Complex Phase II at Grand Anse, Praslin - R45m
The construction of the Phase 2 project on Praslin is a ground plus one storey building of a total area of 2,047 square meters. The building situated adjacent to the phase one will provide facilities such as a court house, a modern cinema and other important facilities on Praslin. Construction work on the Phase II started in July 2008 and is expected to be fully operational by December 2009.
2.Commercial/office Building at La Passe La Digue – Rs13.4m
The development will help to provide La Digue with space for office accommodation and shop premises. Construction work has started in October 2008 and is expected to be completed by December 2009
3. Warehouse facilities at the Providence Industrial Estate – Rs28m
The development will help to meet the continuously increasing demand for warehouse and storage facilities from the emerging private sector and provide archives for storage of documents. Construction work started in April 2009 and is expected to be completed by the end of 2009
4.Proposed Investments 2008/2010
In view of the need to diversify investments and maximize returns, the Board of Trustees has approved the following investment projects for implementation during the years 2009 and 2010.
4.1. Redevelopment of ex-Unity House and vicinity (Victoria Complex)
The Seychelles Pension Fund has taken a lease of 99 years on the Property and paid the rent in advance. The land is available for redevelopment. Tirant and Associates has been appointed as the architect/planner of the project and the development plan has already received the Board of Trustees’ approval and the
The development will comprise of two phases, Phase 1A and 1B. The architectural design for the Phase 1B Project awaits the Planning Authority’s approval. Tender for piling has been awarded and piling is expected to start by November 2009. The project comprises the construction of three buildings (ground plus three storeys) of a total gross area of 8,580 sqm to provide office accommodation and business premises. The buildings will accommodate the Government Sector, Offshore Business and Financial Services as well as small businesses.
Note that any person who is interested in securing accommodation should download, fill in the application form and submit to the Property Management Section.
4.2. Commercial Development in Victoria opposite STC supermarket for use by small business
The project has already been approved by the Seychelles Investment Bureau. The Planning Authority has approved the architectural design. This project will provide much needed commercial space in Victoria particularly for small businesses (e.g. shops, offices etc…). It will consist of a ground plus three storey building with a Creole perspective housing up to date facilities for businesses. With the current economic situation the Seychelles Pension Fund has been obliged to defer the project until the exchange rate stabilizes to enable the Fund to know its full costs and viability.
The return on these investments is expected to be above 8%.