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Are
you fully aware of your responsibilities as a trustee?
The Trustee Act 2000 came into
force on 1 February 2001, placing new
duties on trustees but also increasing the investment choices
open to them.
The Act requires a trustee to have
regard to the need for diversification and
suitability of investments, taking into account factors such
as fund size,
the profile of investments and the balance between income
and capital growth.
The Act creates a new statutory
duty of care that the trustees must
exercise in relation to trust dealings and also conveys a
general power
to trustees to appoint an agent to carry out duties of the
trust. |
