agent of a bond issuer who handles the administrative aspects of a loan and ensures that the borrower complies with the terms of the bond indenture. Bloomberg Financial Dictionary
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When a person is the legal owner of assets, but is holding them on behalf of another person who is to receive the benefit from the assets ( i.e. the beneficiary), then the legal owner is holding the assets on trust for the beneficiary and is referred to as a trustee. Trustees have a legal obligation to manage and invest the assets appropriately on behalf of the beneficiary. A common example of a trust is a unit trust, where the trustees of the trust are holding the assets on behalf of the unit holders. The assets are invested by the unit trust manager on behalf of the trustee. Another example is when an adult holds assets on trust for a child until the child reaches his majority. Where the role is undertaken by professionals as a business the activity will require authorisation. Dresdner Kleinwort Wasserstein financial glossary
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In a fiduciary relationship, called a trust, it is a person who holds title to property for the benefit of another person. Euroclear Clearing and Settlement glossary
See nominee. Euroclear Clearing and Settlement glossary
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An individual or organisation who/that looks after assets for the benefit of another.
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trustee trust‧ee [ˌtrʌˈstiː◂] noun [countable]
• the trustees of the pension fund
a trustee who invests the money they have control over, rather than simply passing it on to someone at the particular time they are allowed to have it
a trustee who holds property or assets and passes them on to someone at the particular time they are allowed to have it
someone who is in charge of a constructive trust
2. FINANCE a member of a group that controls the money of a company, college, or other organization:
• It is being operated by a trustee appointed by the federal Bankruptcy Court.
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Institution appointed to ensure all terms and conditions of the bond indenture are fully adhered to.
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trustee UK US /trʌsˈtiː/ noun [C]
► a person or organization legally chosen to work alone or as part of a group to manage money or property for others: »
The pension fund is managed by a 12-member board of trustees.
»The CEO, who is responsible for developing overall strategy, reports to a board of trustees.
»She was invited to become a trustee for her local wildlife charity.
→ See also ACTIVE TRUSTEE(Cf. ↑active trustee), BARE TRUSTEE(Cf. ↑bare trustee), CONSTRUCTIVE TRUSTEE(Cf. ↑constructive trustee)
Financial and business terms. 2012.