I bought a MGS HDT in Nov 2002. The Application For Special Income Units template that came with the deed includes the following statement under clause 2 Capital--"The holders of Special Income Units shall not have an entitlement to any part of the capital of the Trust Fund".
Under clause 3 Redemption, the Special Income Units holder is entitled to receive "by virtue of the redemption, an amount equal to the value of the units redeemed, calculated at the date of redemption --------".
Clause 3 seems to allow the trustee to include capital growth of the underlying asset in the calculation of unit value at redemption? The underlying asset could be property or, in the case of a UT/HDT combination, ordinary units in a unit trust.
Under clause 3 Redemption, the Special Income Units holder is entitled to receive "by virtue of the redemption, an amount equal to the value of the units redeemed, calculated at the date of redemption --------".
Clause 3 seems to allow the trustee to include capital growth of the underlying asset in the calculation of unit value at redemption? The underlying asset could be property or, in the case of a UT/HDT combination, ordinary units in a unit trust.