Unit trust association
A more recent development has been the setting up of the New Zealand Unit Trust Association, which is seen as an important step for the industry.
Although Mr Chris Murray, of N.Z.I. Investment Services, was the main instigator of the association, he says it was formed with the agreement of all unit trust managers in New Zealand.
The association should bring standards to the unit trust industry through voluntary regulations. It will also produce continued statistics and reports on industry trends.
One of the association’s objectives will be to ensure that the industry does not suffer from over regulation. It will also
look at some of the’industry’s problems. One problem that may concern the New Zealand industry is that Australian and other overseas trust managers . can promote their products in New Zealand. At present, New Zealand trust managers can not promote their products in Australia.
The associate should ensure that the professional management of unit trusts is maintained.
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Press, 12 May 1987, Page 28
Word Count
161Unit trust association Press, 12 May 1987, Page 28
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