Unit Trusts: A Trustee Briefing


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. 



  • 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.




-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.  Content.  Transfer of Units.

-Procedure and paperwork.  SIB rules.

-Issue of certificates.  Certificate narration and signature.

-Damaged and lost certificates: Indemnities.

-Outline of procedures in change of Unit Holder status, e.g. marriage, divorce, probate, minors, change of address, joint holdings, splitting holdings and corporate holdings.   



Day 2


Regulation and Legal Background


-An outline of the Regulation and Compliance aspects, general law and FSA demands on Trustees.

-Rule breaches and complaints procedure.


Taxation Issues

-Outline of Taxation of Income and Capital Gains within the fund.

-Overseas income.  Franked income.

-VAT and quarterly returns.

-CT61, its importance and completion.

-Penalties for non-compliance.


The Trustee Role in Practice


-Objectives of Trusteeship.


-Framework of operation.

-Investment and Borrowing Powers: their importance and monitoring.

-Relationships with Fund Managers, Registrar, Custodians.

-Trust Accounting.  Reconciliation. 

-Distributions.  Valuation and Pricing.

-Rule Breaches.


The course also includes several quizzes and exercises.




This course has an overlap with our Unit Trust Administration course (UTA).  Delegates attending both within a one-year period will receive a 30% discount on the second course fee on notification to us.   





Todays Date:

Duration 2 days
Available as an in-house course

Investment Education PLC
45 Old Hall Road, Manchester M7 4JF, United Kingdom
Tel:+44 (0)161 832 3800
Email: mail@investmentEducation.net
Registered in England Number 2129160
VAT Registered Number GB 480 2112 85

site designed by:WEBSCIENCES