In recent days the British news media have reported that the suspended LF Woodford Equity Income Fund (WEIF), which has about 3.5 billion pounds worth of assets locked up inside it, will be liquidated, wound up and, starting from January 2020, funds returned to investors.
Trustees Executors’ (TE) Compliance Manager Tamuka Nyawo, is the winner of the Governance Risk & Compliance Institute’s (GRCI) New Zealand Compliance Professional of the Year.
The Trusts Act 2019 (“the Act”) became law on 30 July 2019 but most of the provisions will not apply until 31 January 2021. This will give trustees an opportunity to understand the Act and to consider what they may need to do to comply. This article outlines some important changes that may affect you.
September is Wills Month, so Trustees Executors is making it easy for you, your friends and family to make or update your will with a 50% discount off our standard fees*.
In recent months interest rates have set new lows in New Zealand and Australia. As interest rates have fallen, New Zealand investors have had stellar performance, but unfortunately there’s not much further rates can go, and as they get lower so do our expected future returns for term deposits, fixed interest and equities.
You may have heard recent discussions regarding the new Trusts Act 2019. This Act sets out new laws governing Trusts. This article outlines what the changes mean for you and Trustees Executors.
Planning a long trip? Overseas perhaps? Want to have peace of mind about your affairs at home and abroad while you are away? If so, there are a few matters you should check out before you go.
Wellness is important to us and as part of our Wellness Programme at Trustees Executors, we have introduced Community Volunteer Days to provide staff with an opportunity to give back to the local community. In June, our Auckland based team spent some days volunteering at various organisations to help make a difference.
Human behavioural science is coming under close scrutiny for its utility by securities market regulators worldwide. These authorities are seeking ways to protect retail consumers from adverse investment experiences and influence them to make optimal investing choices.
A prominent British retail managed fund has fallen into strife, in the process triggering serious questions about the way in which such financial products should be managed and regulated. The case of the LF Woodford Equity Income Fund (WEIF) has raised concerns about why such a closely monitored and apparently compliant managed fund was abruptly forced to suspend investor trading in its shares due to an asset liquidity crisis. In the first section of two articles, we examine how WEIF’s crisis was brought about by the investment manager’s decisions. In the second part, we will consider issues arising around the supervision of the fund by related parties and the regulator.