Trust Management Granted MIS License
Trust Management is pleased to annouce that the Financial Markets Authority has granted Trust Management a license as a manager of a Managed Investment Scheme ("MIS").
Pursuant to the Financial Markets Conduct Act 2013 all managers of Managed Investment Schemes will be required to be licensed by 1 December 2016.
The licensing process is an in-depth review of the system, people, governance, capabilities and competencies of a Manager.
To give some insight into the depth of the licensing process, Trust Management’s application, with supporting papers was over 1000 pages.
On 20 June 2016, Trust Investments Management Limited was granted a market service license by the FMA, as a Manager of Managed Investment Scheme ("MIS license").
Trust Management was just the 10th New Zealand Fund Manager to be granted a license at the time.
Obtaining a MIS license is just the first step into transitioning to the Financial Markets Conduct Act regime. Trust Management's prospectus and investment statement have been replaced by the Product Disclosure Statement. To learn more about the changes and new documentation, please follow the below link.