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An agreement that binds 3 parties (namely, Unit Trust Management Company, the trustee and the unit trust fund’s investors – also called as unit holders) to the deed.
The trust deed will have to be registered with the Securities Commission. A copy of the trust deed can be bought at the management company.
Can be the Public trustee of Malaysia or any independent trustee of Malaysia or any independent trustee companies.
A trustee is generally reputable financial institution appointed by a deed of Trust to look after the interest of the unit holders.
An independent Trustee is appointed to ensure compliance of the management company with the requirements of the Trust Deed, Securities Commission’s guidelines on Unit Trust Funds and Securities Commissioner Regulations 1996
As the legal owner of the assets of the fund, the trustee is responsible to ensure that the fund manager invests the funds according to the trust deed.