As Trustees, we perform the following duties:
- Act in a fiduciary capacity to the bondholders and protecting the interest of the Bondholders
- Ensure issuer compliance with the Trust Deed
- Monitor principal and interest payments by the Issuer and ultimately the Registrar
- Administer sinking funds
- Act as an independent and impartial third party and a bridge between the Issuer and holders of the Bond during the tenor of the bond issue
- Submit periodic reports to bondholders/ regulatory bodies such as SEC and NSE when required.
UNIT SCHEMES TRUSTEES
- Monitor the activities of the fund manager on behalf of and in the interest of unit holders.
- Ascertain the profitability rationale for investment decision making of the fund manager.
- Ascertain compliance with the provisions of the Trustee Investments Act 1962 as amended, the Investment and Securities Act No. 29 of 2007 and the Trust Deed, by the fund Manager.
- Approve the draft audited annual report of the Fund after it is being reviewed by the Trustee before same is forwarded to the Commission for approval.
- Protect the interest of the investors
- Maintain accounts by holding the securitization cash flows in segregated accounts
- Receive payments and disseminating relevant information and distributing payments.
- Monitor the performance of covenants by the Borrower and other parties
- Enforce security in the event of default
- Appoint receiver/receiver/manager