Wednesday, January 2, 2008

Where Would The Trust In Units Be Without The Trustee ?

Guidelines On Unit Trust Funds

In addition to the regulatory and safeguarding roles of the Regulator and Trustee respectively, the Guidelines provide additional safety features to protect the interest of the investing public. The Guidelines describe the characteristics of the investments permitted as opposed to prescribing the investments (which was previously investment in authorised Malaysian assets only) Furthermore, the Guidelines also reinforce the safety net by ensuring the funds are not overly exposed to high risk stocks and any single group of companies.
The Guidelines are subject to review by the Securities Commission as and when it deems fit and necessary to protect and ensure the growth of the industry.
The Federation of Malaysian Unit Trust Managers (FMUTM)
The first unit trust fund in Malaysia was launched in 1959. Who would then have imagined that years later there would be billions of ringgit in funds under management?
The rapid growth of the industry in recent years has led to the formation of the Federation of Malaysian Unit Trust Managers on 7 August 1993.

The Federation was set up with four objectives :

  1. To promote the industry.
  2. To agree on standards of practice for the protection of the interests of unitholders.
  3. To maintain the good name of the industry.
  4. To improve regulations, tax and other rules affecting the sales of unit trusts.

The Federation is represented by most of the unit trust managers in the Industry