Bea and Cee Are Trustees of a Family Trust Including

question 4

Multiple Choice

Bea and Cee are trustees of a family trust including a number of commercial properties and a share portfolio. They are familiar with managing the commercial properties, but wish to delegate the task of managing the share portfolio.
They have identified Dee and Associates Ltd, an experienced asset management company, which they wish to appoint for this purpose. Which of the following requirements does not apply?

• A) They must make or confirm the appointment of Dee and Associates Ltd in writing.
• B) They must provide Dee and Associates Ltd with a written policy statement giving guidance as to the investment criteria, and require Dee and Associates Ltd to comply with this policy statement.
• C) They must exercise reasonable care in the selection of Dee and Associates Ltd.
• D) They must meet with Dee and Associates Ltd at least annually to review the performance of the investments and of the company.

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