Investments under the Trustee Act
The act defines the categories of investment as follows: 1. Fixed interest securities are:
2. “Wider Range “, i.e. building society shares, units of authorise unit trusts, and stocks and shares issued by companies if:
In addition, immovable property in Kenya for an estate in fee simple or for a term of years of which not less than 40 years is unexpired3. Special-range property - property represented by any power of investment exercisable by a special investment clause contained in the trust instrument e.g. power to invest in the shares of a private company. This property musts be placed in a separate part of the fund and the provisions for division of the fund into “narrower” and the “wider” range parts will only apply to the residue of the fund. If special range property is realised and converted into property other than special range property e.g. sale precedes, the balance between “fixed interest” and “wider range property must b e maintained.