Robert Pearce and Warren Barr

in Pearce & Stevens' Trusts and Equitable Obligations

Seventh edition

Published on behalf of © Robert Pearce, John Stevens, and Warren Barr 2018

Published in print September 2018 | ISBN: 9780198745495
Published online September 2018 | e-ISBN: 9780191807534 | DOI:

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This chapter explores the powers and duties of trustees in relation to investment. It is in the context of investment that the concept of the trust fund is at its most apparent. The beneficiaries are entitled to share in the wealth which the trust assets represent. The component parts of that wealth are very much less important to the beneficiaries than its aggregate value. Thus, the issues which have to be addressed in the context of investment are first, when trustees are permitted to dispose of existing trust assets in order to substitute new assets; second, what assets may be substituted for the original ones; and third, the principles upon which those investments must be chosen. Over these issues, the chapter addresses a fundamental question on what the purpose of investment is.

Keywords: investment; trust fund; trust assets; wealth; trustees

Chapter.  15812 words. 

Subjects: Trusts Law

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