Strada plans unit trust

Press, 21 May 1987, Page 24

Strada plans unit trust

PA Wellington Strada Holdings, Ltd, is to float a unit trust seeking funds to invest in Broadway and West End productions. The managing director of Strada, Mr John Gow, said yesterday a prospectus for the Strada Entertainment Trust would be registered in early June.

The trust will seek listing on the New Zealand Stock Exchange with the units to be be traded in the same way as shares. “Strada is accepted in Broadway and West End circles as a creditable financier. We are known, respected and trusted by the people that count,” Mr Gow said.

Strada had previously financed its theatrical

ventures by putting together finance from small groups of New Zealanders.

"Instead of investing in just one production the Entertainment Trust will be able to invest in a number of productions simultaneously,” Mr Gow said.

“It will lessen the risk factor in that if one particular show fails to kindle public interest, the success of others will provide a safety net,” he said.

By having $1 units and making the minimum unit holding only 1000, Strada would open an investment opportunity for everyone. Mr Gow said that Strada was already negotiating on the trust’s behalf to finance forthcoming productions.