23Establishment of common funds

23 Establishment of common funds (1) The Public Trustee may establish one or more common funds: (a) for the investment of estate and trust money under the control of the Public Trustee; and (b) for the investment of money on behalf of other classes of persons. (2) The Public Trustee: (a) must determine the classes of investments in which a common fund may be invested; and (b) may vary those classes.

Part V Investment of estate funds and common funds Public Trustee Act 1979 12 (3) The Public Trustee must not invest money in a common fund unless the classes of investment in which the money may be invested on separate account are the same as or include the classes of investment in which the common fund may be invested.