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Trust deed |
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Trust deedA trust deed is a legal document for setting up a trust. In order for a unit trust to be authorised by the FSA, the trustees and fund managers must submit a draft trust deed and scheme particulars. The fund may only be promoted to the public once authorisation has been obtained.The trust deed has certain mandatory content:It must contain the category and the name of the trust, which must reflect its objectives.It must state the law that applies to the trust (e.g. England and Wales).It must state the currency of the trust (e.g. sterling).It must contain a general statement that the scheme may invest in certain eligible markets.It must state that the trust deed is binding on the unitholders, trustees and managers and that the trust property is held by the trustees for the unitholders.It must state that unitholders have no further liabilities once they have paid the purchase price of the units.Other optional detail includes any restricted investment powers or geographic limitations, charges, unit pricing formulas, the remuneration of trustees, auditing arrangements, the creation of a unitholders' register etc.Trust deedAgreement between trustee and borrower setting out terms of a bond.Trust deed Similar MatchesReal Estate Investment Trust (REIT)Real Estate Investment Trust (REIT)REITs invest in real estate or loans secured by real estate and issue shares in such investments. A REIT is similar to a closed-end mutual fund. Equipment Trust CertificateEquipment Trust CertificateIn the US, a type of security, generally issued by a railroad, to pay for new equipment. Title to the equipment, such as a locomotive, is held by a trustee until the notes are paid off. An equipment trust certificate is usually secured by a first claim on the equipment. Corporate TrustCorporate TrustThe function of servicing and maintaining records for debt securities issued by a corporation. Unit investment trustUnit investment trustMoney invested in a portfolio whose composition is fixed for the life of the fund. Shares in a unit trust are called redeemable trust certificates, and they are sold at a premium to net asset value. Association of Unit Trusts and Investment FundsAssociation of Unit Trusts and Investment FundsA trade association formed in 1959 to represent the interests of unit trusts and known then as the Unit Trust Association. The Association was renamed AUTIF in April 1993 and merged with the Fund Manager's Association in February 2002 to form the Investment Management Association (IMA). Its stated objectives are:to make representations to the UK Government on legislative, regulatory and taxation matters which affect the business interests of its membersto liase with the Financial Services Authority and other organisations in the UK and Europe on regulatory matters and other important issuesto increase public awareness and understand ing of investment fundsto seek to improve the standards of training in the industryto seek to integrate personal finance education into the school curriculumto add value to member companies by providing them with information, guidance and assistance in matters related to their businessto offer an information service to external parties interested in the activities of the UK investment funds industryIMA's website is: http://www.investmentfunds.org.uk Further Suggestionsbare trustdiscretionary trust Trust Indenture Act of 1939 Deed Of Trust Trustee in bankruptcy charitable trust D Declaration Of Trust investment trust Trustee real estate investment trust accumulation and maintenance trust enterprise zone trust Association of Investment Trust Companies unit trust Trustee In Bankruptcy split capital investment trust guaranteed trust Equipment trust certificates Resolution Trust Corporation (RTC) Discretionary trust Inter vivos trust Voting trust certificate Trustor Irrevocable trust Trust fund transaction |
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