What banks may be authorized to perform trust and other fiduciary functions?

This refers to any activity of a trust-licensed bank resulting from a contract or agreement whereby the bank binds itself to render services or to act in a representative capacity such as in an agency, guardianship, administratorship of wills, properties and estates, executorship, receivership, and other similar services

This activity shall refer to any activity resulting from a contract or agreement primarily for financial return whereby the bank (the investment manager) binds itself to handle or manage investible funds or any investment portfolio in a representative capacity of financial or investment management, advisory, consultancy or any similar arrangement which does not create or result in a trusteeship

This is an instrument in writing covering the terms and conditions of the trust.

This is any person who holds legal title to the funds and/or property of a trust.

This is any person for whose benefit a trust is created.

This is any person who creates a trust.

This shall refer to the person who grants authority to another person called an agent, under a contract to enter into transactions in his behalf.

This shall refer to any person or entity engaged in investment management activities as herein defined.

This shall refer to the designated head or officer-in-charge of the trust department.

This shall refer to a person who acts in representation or on behalf of another with the latter’s authority.

This shall refer to then department, office, unit, group, division or any aggrupation which carries out the trust and other fiduciary business of a bank.

This shall refer to a living trust created by an agreement whereby the trustor conveys property or a sum of money to be managed by the trustee, as the agreement dictates, generally for the preservation of the assets or property for future use of the beneficiaries and/or to answer for their current needs.

This shall refer to an open-ended pooled trust funds denominated in pesos or any acceptable currency, which are operated and administered by a trust entity and made available by participation.

This shall refer to an investment vehicle where funds are solicited from investors for collective investment and which are managed for the account of such investors.

This shall refer to a UITF structure that mandates the fund to invest at least ninety percent (90%) of its assets in a single collective investment scheme.

This shall refer to a local or foreign collective investment scheme in which the UITF invests all or a portion of its assets.

This shall refer to a UITF structure that mandates the fund to invest at least ninety percent (90%) of its assets in more than one (1) collective investment scheme.

This shall refer to a UITF created to take the form of a feeder fund or a fund- of-funds and is approved by the Bangko Sentral under existing Bangko Sentral regulations.