What role does the Trustee NOT have in UITFs?

The role of the Trustee in a Unit Investment Trust Fund (UITF) primarily involves oversight and ensuring that the fund operates according to its established guidelines and regulatory requirements. The Trustee is responsible for monitoring compliance, implementing the fund's investment strategy, and managing the assets held within the fund.

By overseeing compliance, the Trustee ensures that the UITF adheres to applicable laws and regulations, as well as its own investment objectives and policies. Implementing the investment strategy involves making sure that the investments align with the goals set forth in the fund's prospectus. The Trustee also plays a critical role in managing the assets by overseeing the allocation of funds and making decisions regarding the buying and selling of securities.

Marketing the UITF, however, is not a role typically assigned to the Trustee. Marketing efforts are generally the responsibility of the fund manager or distributor, who actively promotes the UITF to potential investors. This distinction is important as it delineates the functions of investment management from those of investor relations and distribution.