SPECIAL INVESTMENT. OF ' * ESTATE FUNDS When the Public Trustee is directed ' by a will or trust instrument to invest the moneys of any estate or trust outside the Common Fund, he takes every cars to secure the best i available safe investment. Althoucn , 1 the State guarantee does not apply to ■ such investments, the Public Trustee exercises all the care that a private trustee would exercise, and is liable for loss to the same extent as a private trustee. Until a suitable investment .is found, a Common Fund mortgage is allocated from the Ist of the month following the receipt of the funds, and the interest therefrom is credited to tho estate. Tho Public Trustee has special facilities for the investment of funds in mortgages or local body debentures. Where funds are specially invested by the Public Trustee exactly the sumo rate of interest is obtained by the beneficiaries as would be obtained by a private trustee in similar circu instances. R. F. WARD, District Public Trustee, Albert St., Auckland.
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Bibliographic details
New Zealand Herald, Volume LXI, Issue 18888, 10 December 1924, Page 8
Word Count
170Page 8 Advertisements Column 2 New Zealand Herald, Volume LXI, Issue 18888, 10 December 1924, Page 8
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