Hi Everyone,
Below is a link to “The Australian Institute of Company Directors” (AICD)
http://www.companydirectors.com.au/...trustee+provides+protection+for+investors.htm
Under the title ““HOW A TRUSTEE PROVIDES PROTECTION FOR INVESTORS”
One finds this reassurance:-
“In Australia and most other developed countries, trustees act independently to protect the interests of investors. Trustees have gone about doing this in a very quiet, non-public and diligent manner.
The cost of having a trustee actively protecting a $10,000 investment in a managed fund is around $7 per annum.
An investor in Australia who commits to investing in a managed fund (or unit trust) can take comfort in knowing that an independent third party is watching (with authority) over a series of complex trust issues”
A.) Does this mean that the LKM trustee ( Sandhurst) http://www.sandhursttrustees.com.au/public/
has insurance to cover these types of losses?
B) Again I quote from this same "AICD" document:-
“Generally a trustee's duties include:-
Ensuring that assets are held in safe custody and independently of the "deal-maker" or manager.
Monitoring risk exposures for investors.
Ensuring asset valuations are carried out properly and effectively.
Appointing and supervising independent auditors in relation to the accounts of the fund.
Monitoring fees charged to investors.
Undertaking "real time" monitoring of investments and investment trading rather than trying to take corrective action after the event.
Having significant involvement with issues that look after investors interests in an unobtrusive "behind the scenes" manner that facilitates good corporate behaviour in the interests of investors.”
If all the above is true, Sandhurst has failed in its “duty of care”
cheers
Diga
Below is a link to “The Australian Institute of Company Directors” (AICD)
http://www.companydirectors.com.au/...trustee+provides+protection+for+investors.htm
Under the title ““HOW A TRUSTEE PROVIDES PROTECTION FOR INVESTORS”
One finds this reassurance:-
“In Australia and most other developed countries, trustees act independently to protect the interests of investors. Trustees have gone about doing this in a very quiet, non-public and diligent manner.
The cost of having a trustee actively protecting a $10,000 investment in a managed fund is around $7 per annum.
An investor in Australia who commits to investing in a managed fund (or unit trust) can take comfort in knowing that an independent third party is watching (with authority) over a series of complex trust issues”
A.) Does this mean that the LKM trustee ( Sandhurst) http://www.sandhursttrustees.com.au/public/
has insurance to cover these types of losses?
B) Again I quote from this same "AICD" document:-
“Generally a trustee's duties include:-
Ensuring that assets are held in safe custody and independently of the "deal-maker" or manager.
Monitoring risk exposures for investors.
Ensuring asset valuations are carried out properly and effectively.
Appointing and supervising independent auditors in relation to the accounts of the fund.
Monitoring fees charged to investors.
Undertaking "real time" monitoring of investments and investment trading rather than trying to take corrective action after the event.
Having significant involvement with issues that look after investors interests in an unobtrusive "behind the scenes" manner that facilitates good corporate behaviour in the interests of investors.”
If all the above is true, Sandhurst has failed in its “duty of care”
cheers
Diga
