Fund Basics
Trustee
Definition
What is Trustee?
An independent party appointed to protect unitholders' interests and oversee compliance with the trust deed.
Example in practice
How This Looks in Practice
A trustee may challenge a manager that proposes an investment outside the fund's approved mandate.
Keep learning
Related Terms
Fund Basics
Mutual Fund
A pooled investment vehicle that combines money from many investors into one professionally managed portfolio.
Fund BasicsUnit
A proportional ownership interest in a mutual fund.
Fund BasicsNet Asset Value
The value of a fund's assets minus its liabilities, usually expressed in total and per unit.
Fund TypesMoney Market Fund
A mutual fund that invests mainly in short-term, relatively liquid instruments such as treasury bills and deposits.