85Engagement of investment fund manager

85 Engagement of investment fund manager (1) The trustees of a scheme may engage a person to manage an investment portfolio for the scheme (an investment fund manager). (2) The engagement of an investment fund manager must be by written agreement: (a) specifying how the investment fund manager may invest for the scheme; and (b) requiring the investment fund manager to comply with the prudential standards relevant to investment. (3) The trustees must give the Minister notice of the engagement of an investment fund manager. Division 4 Records, plans and reports