What is NOT a duty of the trustees of a unit trust?

Study for the Variable Universal Life/Universal Life Plan (VUL/ULP) Exam. Prepare with flashcards and multiple choice questions, each question is accompanied by helpful hints and explanations. Ace your exam!

The duties of trustees in a unit trust include managing the portfolio of investments effectively, ensuring adherence to trust deed provisions, and protecting the interests of unit-holders. However, actively participating in unit-holder decisions is not a primary duty of the trustees.

Trustees are responsible for overseeing the trust and ensuring that the investment strategy aligns with the trust's objectives and benefits the unit-holders. They manage the assets and make investment decisions based on the terms set forth in the trust deed. While they may communicate with unit-holders and inform them about developments and performance, the actual decision-making regarding unit-holder votes or individual actions typically remains with the unit-holders themselves.

This means trustees must fulfill their fiduciary responsibilities and act in the best interests of unit-holders, but they do not directly engage in unit-holder decisions, which protects them from potential conflicts and ensures that the trust operates according to its established guidelines.