The Association of Corporate Trustees has said that trustees play a relevant role in; ensuring capital market investment protection in the country.
The association disclosed this during a presentation titled’ Protection in the capital markets – The role of corporate trustees’; that was done during its 2022 business luncheon in Lagos.
The luncheon themed, ‘An appraisal of the Nigerian trust industry vis-avis global trends in trusteeship’. It was attended by stakeholders in the financial sector.
In the presentation, the association described a trust as a legal arrangement where a person or entity (the trustee) holds property on behalf of other persons or entities (the beneficiaries).
While explaining the duties of corporate trustees in the presentation, it noted that;, “They manage and administer the trust according to its terms and intent; communicating relevant information in a timely manner to co-trustees and beneficiaries; adopt sophisticated tax-planning strategies to minimise the tax liability to beneficiaries; and monitor investment performance.”
It assured of sustainable investing by ensuring client interests in sustainable investing factors has been gaining traction.
-Punch.
