Managing these types of relationships has traditionally been relegated to the number and type of individual investment plans inside the Collective Investment Trust and the costs and charges associated with the Trust Bank's management. However, to meet the enhanced regulatory environment trust departments are under, I always recommend the development of a set of Key Performance Indicators (KPIs) that can be used to manage the relationship. KPIs and the normal vendor management risk assessments, ongoing monitoring, and the enhanced due diligence these relationships require should give you the ability to manage the relationship. You may also want to define your exit strategy for the relationship well before it ends.
Does anyone else have any thoughts on this topic?
Original Message:
Sent: 06-12-2020 11:07 AM
From: Anonymous Member
Subject: Collective Investment Trust - Trustee Oversight
This message was posted by a user wishing to remain anonymous
We are about to embark on a new relationship with a Trust Bank who will be responsible for our Collective Investment Trust range. As the Trustee is not a vendor in the same way as say a Custodian or Fund Administrator I am looking to build a slightly different oversight/relationship management model. Very interested in hearing how others manage this type of relationship. Thanks