Unit trusts: a trustee briefing

Background
This course provides an overview of the whole area and considerable detail on the responsibilities, roles and functions relevant to Trustee staff monitoring a Unit Trust.

Delegates

Trustee and Custodian staff and supervisors
Unit Trust administration staff dealing with Trust companies
This course is eligible for CPD or CPE requirements.
Details on request.
Day 1
Unit Trust Overview and Organisation
-The players-functions and relationships between the Client (Unit Holder), Trustee, Manager.
-The Trust Deed: Significance, content, changes to the Deed.
-U.T. authorisation and legal framework.
-Scheme particulars - content and importance.
-Types of Unit: Income v. Accumulation. U.T. charges.
-Types of U.T.: Aims and objectives
-General, Geographic, Theme.
Pricing and Dealing
-Daily Trust valuation. Pricing process.
-Equalisation. Bid and offer prices and spread derivations.
-Forward v. Historic pricing. Single pricing.
-Dealing round - Sale, Repurchase, Creation, Liquidation of Units.
-Contract notes. Settlement procedure.
-Dealing examples.
-Unit cancellation. Mistakes, rule breaches.
-The box - its significance and use.
-The art of Box Management.
-Sources of revenue to a U.T. Company.
-Pricing examples.
Distributions
-XD dates - Closing the Books. Timetable.
-Unit distribution calculation. Warrant issue.
-Re-investment calculation. Equalisation.
-Managers' holding rights.
-Dividend or distribution mandate forms.
Reporting Issues
-Review of a report to unit holders. Required content.
Registration and Certification
-Register of Unit Holders.