© The Author (2009). Published by Oxford University Press. All rights reserved.
Trustee investment powers in international trust law
*Paolo Panico, Managing Director, Private Trustees SA, 92 rue de Bonnevoie, L-1260 Luxembourg, tel: +352-27489731; fax: +352-26123943.
The historical development of trust law with respect to trustee investment powers, both onshore and offshore, reflects the corresponding evolution in the theory of finance. It can be conveniently analyzed in terms of two separate approaches, the prudent businessman approach and modern portfolio theory. This article attempts to provide a concise review of both approaches in the relevant legislation of a number of trust jurisdictions.