§ Lord Redesdaleasked Her Majesty's Government:
Whether they will take steps to enable the Public Trustee to change the present rule that each trust must be separately invested, in order to reduce management costs and improve performance by enabling trusts to be combined for investment purposes; and whether the Public Trustee will use the planned computer installation to monitor the performance of investments under his management using commercially practised techniques.
§ The Lord Chancellor (Lord Hailsham of Saint Marylebone)The Administration of Justice Bill now before this House contains provisions to achieve the first object. As to the second, the Public Trustee already has a computer facility which provides him with a full valuation service and enables him to evaluate investment performance in accordance with the requirements of the fund concerned.