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of <h1>Trustees Must Comply with SEBI Rules, Oversee Fund Management, Ensure Fair Practices, and Safeguard Unitholders' Interests</h1> Trustees of mutual funds, as per SEBI regulations, must enter into an investment management agreement with asset management companies, ensuring compliance with specified clauses. They are entitled to necessary information and must approve broker empanelment policies, ensuring fair dealings and no undue advantage to associates. Trustees oversee compliance with regulations, manage mutual fund schemes independently, and safeguard unitholders' interests. They must report securities transactions, review service contracts, and resolve investor complaints. Trustees are accountable for fund assets, must exercise due diligence, and adhere to a code of conduct. They are not liable for good faith actions if due diligence is exercised.
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