Corporate Trustee vows to protect investors’ wealth in capital market

By PETER EGWUATU

The President of ACT , Mrs. Funmi Ekundayo, who stated this , said the association will contribute its efforts to ensure that investors confidence returns to the Nigerian capital market.

Speaking at the Annual General Meeting of ACT in Lagos, Ekundayo, who is also the Managing Director of Skye Trustees Limited, said corporate trustees play a significant and critical role in the capital market which entails protection of investors’ wealth in the market.
According to her, what the market needs today is the return of investors’ confidence, adding that ACT would assist in that direction by creating more awareness and rendering efficient services that would attract more investors to the market.

“As corporate trustees, the association holds a very significant and critical role in the capital market because trustees are saddled with responsibilities of ensuring investors’ confidence and if you look at what the market need today, it is the return of investors’ confidence.

Even though investors’ confidence is gradually returning, as an association, it is not yet where we want it to be and we will contribute our quota in ensuring that more investors return to the market” she said.

According to her “ACT will serve as watchdog for investors to ensure that investors reap the benefits of trust deeds in the market. This is the main reason why the Chinese walls are built into capital market transactions.”

Ekundayo disclosed that the association has actively partnered Securities and Exchange Commission through involvement of its members in various activities of mutual benefits and collective investment schemes..

‘’Over the years, we have seen the reward of this partnership as the recognition given to ACT by the regulator and it has periodically improved significantly,” she said.

She added that the association has been involved in a lot of advocacy with regulators and which have actually yielded positive result, assuring that the partnership would continue in the years ahead.

Commenting on the future plans of ACT, the president said more public awareness would be created going forward.

“Low public awareness has been an issue and the ACT will continue to strive to improve the level of awareness of the highly important value adding services role of corporate trustees particularly in the area of private trusts” Ekundayo said.

She noted that ACT will also advocate for better working environment for its members, disclosing that the association has successfully launched an official website. She said issues relating to the sub-sector as well as other market developments generally will be posted on the website from time to time.
 

- Culled from: http://www.vanguardngr.com