What is the trustee’s role in an REIT?
The roles of the Trustee to schemes such as a REIT are undertaken in fulfillment of Rule 205 of the Securities & Exchange Commission (SEC) Rules issued Pursuant to the Investments & Securities Act 1999 (ISA), which provides that Trustees should perform the following functions: • Monitoring of the activities of the Fund Manager on behalf of and in the interest of Investors or Fund contributors • Maintaining custody of Funds and documents relating to the investments by the scheme or Fund • Monitoring of the register of Unit holders or Investors • Ascertaining the profitability rationale for investment decision making of the Fund Manager • Ascertaining compliance with the provisions of the Trustee Investments Act 1962, the Investments and Securities Act 1999 and the Trust Deed, by the Fund Manager .
