ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
36. Duties of the trustee
Edition: 2023-12-15 · In force
36. Duties of the trustee
The trustee shall have the duty of taking reasonable care to ensure—(a)that the scheme is managed by the fund manager in accordance with the scheme documents and these Regulations;(b)in relation to investment powers, that decisions about the constituents of the assets under management of the scheme do not exceed the powers conferred on the fund manager;(c)that any irregularity or undesirable practice that it is aware of is notified to the fund manager and where no action is taken by the fund manager, the trustee to report the same to the Authority; and(d)that there are no conflicts of interest and the interests of all participants are treated as paramount in all matters.