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.
This course is eligible for CPD or CPE requirements.
Details on request.
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 -
-Contract notes. Settlement procedure.
-Unit cancellation. Mistakes, rule breaches.
-The box - its significance and use.
-The art of Box Management.
-Sources of revenue to a U.T. Company.
-XD dates - Closing the Books. Timetable.
-Unit distribution calculation. Warrant issue.
-Re-investment calculation. Equalisation.
-Managers' holding rights.
-Dividend or distribution mandate forms.
-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.
Regulation and Legal Background
-An outline of the Regulation and Compliance aspects, general law and FSA demands on Trustees.
-Rule breaches and complaints procedure.
-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.
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.
Investment Education PLC