Duty to act in unit-holders' interest: InvITs must ensure disclosures, avoid conflicts, impose fair fees and ethical conduct.

InvITs and parties must prioritise unit-holders' interest, provide adequate and timely material disclosures, avoid and disclose conflicts of interest, and charge fair and reasonable fees. The investment manager must invest according to the offer document or placement memorandum and act solely in unit-holders' interest. Unethical marketing by parties or appointed third parties is prohibited, with the investment manager liable for third-party noncompliance. All parties must maintain integrity, fairness, due diligence, proper care, independent judgment, high service standards and avoid exaggerated claims about qualifications or experience.

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