Quote: Mushroom Makers

mushroom-makers

There are just five registered trustees in SA, including local and foreign banks. The license requirements are onerous and include fidelity insurance and capital adequacy requirements, says Pankie Kellerman, CEO of Gryphon.The trustees safeguard the assets of the portfolio by holding them on behalf of the individual investors and making sure that the CIS manager sticks to the investment mandate. They ensure the portfolio’s net asset value is verified independently, thus protecting investors from the chance that fund managers would create fictional fund valuations and make off with their money.

Read full article here: http://view.ceros.com/moneyweb/the-investor-may-2016/p/3