What is the role of trustees, apart from the legal details, andWhat is the public interfaceThe role of Mutual Fund Trustees was never really in public domain. The circular stated, inter alia, that it is already mentioned in the Sebi MF Regulations that trustees shall obtain internal audit reports at regular intervals from independent auditors appointed by the trustees. This circular provides that trustees shall appoint a dedicated officer having professional qualification.The officer so appointed shall be employee of the trustees and directly report to the trustees. The scope of work for the said officer shall be specified by trustees from time to time to support the role and responsibilities of the trustees. The annual report of the board of trustees is available on the website of the mutual fund.

Source: Economic Times August 25, 2020 07:35 UTC