Glossary

These investments include:

• Authorised unit trusts
• Unauthorised unit trusts
• OEICs
• Investment trusts
• Managed funds
• Mutual funds.

Domicile is determined by both the physical fact of residence and the intention to reside there permanently. For example, a citizen of a foreign country who is resident in the UK is not necessarily domiciled there unless there is a clear intention to make the UK a permanent home. Under the common law, it is domicile and not residence or nationality that determines a person's civil status. A corporation may also have a domicile, which is determined by the location of its registered office.

The trustees, as legal owners and managers of the trust, must act in accordance with the terms of the trust and the law. They have clear legal responsibilities to manage the trust property on behalf of the beneficiaries.

These investments include:

• Authorised unit trusts
• Unauthorised unit trusts
• OEICs
• Investment trusts
• Managed funds
• Mutual funds.

Domicile is determined by both the physical fact of residence and the intention to reside there permanently. For example, a citizen of a foreign country who is resident in the UK is not necessarily domiciled there unless there is a clear intention to make the UK a permanent home. Under the common law, it is domicile and not residence or nationality that determines a person's civil status. A corporation may also have a domicile, which is determined by the location of its registered office.

The trustees, as legal owners and managers of the trust, must act in accordance with the terms of the trust and the law. They have clear legal responsibilities to manage the trust property on behalf of the beneficiaries.