A Trustee is charged with the fiduciary responsibility to act in accordance with a Trust Deed and in the best interests of the beneficiaries of the relevant trust (sometimes referred to as a fund). A Trustee holds trust property on behalf of the beneficiaries of the trust.
A Trustee can take various legal forms, including an Individual or a Company. If a trust is a “registered managed investment scheme”, the Trustee is known as a Responsible Entity.
A Trustee is required to hold an Australian Financial Services License issued by the Australian Securities and Investments Commission if it is operating a financial services business in Australia.
Trusts can be of various forms including Discretionary, Charitable or Unit Trust. Unit Trusts are frequently used to enable investors to access investments and typically appoint a Corporate Trustee. The underlying value of each Unit in the Trust is directly represented by dividing the value of the assets in the Trust by the total number of Units on issue.
One Investment Group is an experienced trustee, with five Australian Financial Services Licenses and in excess of 50 trusts and $2bn of assets under management.