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Extending the Boudaries of Trust and Similar Ring-Fenced Funds

Virtually every jurisdiction today is busy developing private international law rules to deal with trusts and similar ring-fenced structures. With the increasing impact of globalisation, business interests throughout the world are intent on maximising the potential of such structures for raising funds, lowering risks, and cutting costs. As a result, numerous complex issues involving the traditional categories of settlor, beneficiary, and fiduciary are being radically transformed. Extending the Boundaries of Trusts and Similar Ring-Fenced Funds offers valuable analyses, by sixteen well-known authorities in the field, of a broad range of trust-related issues. The many important insights in this book reveal the workings of such issues as the following: the disappearing divergence between common law and civil law jurisdictions in the matter of trusts; using the segregated fund concept to manage the risk of insolvency; the demise of the "amateur trustee" in the charitable trust sector; why loss to the fund supersedes particular losses of beneficiaries; the legal dimensions of hiding ownership by "giving" property to trustees; the intervention of public policy in questions of perpetuity; the selective imposition of OECD and FTF transparency initiatives on offshore jurisdictions; and "policing" of trustee behaviour by beneficiaries. Lawyers, bankers, and others dealing with investment and business finance will find much information as well as food for thought in this fascinating book, as will those involved in the traditional trust industry, whether as trustees or lawyers or fund managers. Most of the essays in this outstanding thematic collection were originally prepared for presentation at a conference held in 2001 at King's College London.

The many important insights in this book reveal the workings of such issues as the following: the disappearing divergence between common law and civil law jurisdictions in the matter of trusts; using the segregated fund concept to manage ...

Family Trusts

A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators

An insightful and practical guide to family trusts Family Trusts is a step-by-step guide for anyone involved in family trusts: trust creators, trustees, beneficiaries, and advisors. It will help families create and administer a culture that recognizes trusts as a gift of love. Marrying the practical and emotional aspects of family wealth, this book provides a hands-on primer that focuses on fostering positive relationships, and structuring the trust appropriately for the situation and the people involved. It tackles difficult topics with frank and honest discussion, from the first beneficiary meeting to working with addictions, and more. Written by a team of experts in family wealth, this information is becoming increasingly crucial to the successful execution of a trust; you'll learn what type of person makes the best trustee, how to be an excellent beneficiary, and the technical aspects that help you build a better trust from the very beginning. There's been a staggering increase in trustee/beneficiary litigation and hostility, but that doesn't mean it's inevitable. Plenty of trusts are running smoothly, with positive experiences on all sides. This book shows you how to set up your trust to succeed from the start, with step-by-step guidance and expert insight. Express clear and thoughtful intent for the trust Create a healthy and supportive culture Select the right trustee, trust protector, and trust advisor Take the time to prepare before initially meeting the beneficiary Conduct a productive first meeting to set a tone for the relationship Historically, there has been little consideration given to the culture of trusts, and this oversight may be a key driver of the behavior that's becoming more prevalent. Family Trusts explores the nature of these relationships, and shows you how to build a trust that retains the nature and spirit with which it was intended.

Plenty of trusts are running smoothly, with positive experiences on all sides. This book shows you how to set up your trust to succeed from the start, with step-by-step guidance and expert insight.

Investing for Generations

A History of Alliance Trust

This is a history of the Alliance Trust, one of Scotland's oldest and most interesting companies, and the UK's largest general investment fund. It describes how the Trust began life in Dundee in 1888 as a mortgage company financing farmers in the American West; it explains how the Trust inherited the business of several Dundee-based mortgage companies that had lent, wisely and unwisely, on large and small tracts of land in Oregon, Texas, Kansas, and New Mexico. It shows that the Trust was an industry leader from the outset and soon built a reputation for stability and prudence.--Résumé de l'éditeur.

This is a history of the Alliance Trust, one of Scotland's oldest and most interesting companies, and the UK's largest general investment fund.

Evidence on the Financing of Industry and Trade

Association of Investment Trust Companies, Unit Trust Association, Association of British Chambers of Commerce

Hometown Investment Trust Funds

A Stable Way to Supply Risk Capital

This book records the first success stories of a new form of financial intermediation, the hometown investment fund, that has become a national strategy in Japan, partly to meet the need to finance small and medium-sized enterprises (SMEs) after the devastating earthquake and tsunami in March 2011. The hometown investment fund has three main advantages. First, it contributes to financial market stability by lowering information asymmetry. Individual households and firms have direct access to information about the borrowing firms, mainly SMEs, that they lend to. Second, it is a stable source of risk capital. The fund is project driven. Firms and households decide to invest by getting to know the borrowers and their projects. In this way the fund distributes risk but not so that it renders risk intractable, which was the problem with the “originate and distribute” model. Third, it contributes to economic recovery by connecting firms and households with SMEs that are worthy of their support. It also creates employment opportunities, at the SMEs as well as for the pool of retirees from financial institutions who can help assess the projects. Introduction of the hometown investment fund has huge global implications. The world is seeking a method of financial intermediation that minimizes information asymmetry, distributes risk without making it opaque, and contributes to economic recovery. Funds similar to Japan’s hometown investment fund can succeed in all three ways. After all, the majority of the world’s businesses are SMEs. The first chapter explains the theory behind this method, and the following chapters relate success stories from Japan and other parts of Asia. This book should encourage policymakers, economists, lenders, and borrowers, especially in developing countries, to adopt this new form of financial intermediation, thus contributing to global economic stability.

This book records the first success stories of a new form of financial intermediation, the hometown investment fund, that has become a national strategy in Japan, partly to meet the need to finance small and medium-sized enterprises (SMEs) ...

Social Security Trust Fund Investment Policy

Hearing Before the Subcommittee on Social Security and Income Maintenance Programs of the Committee on Finance, United States Senate, Ninety-seventh Congress, Second Session, June 8 1982