Money trust - Kinsen Shintaku

A trust that accepts money as trust assets and promises to pay it back in cash at the end of the trust. There are three types of trusts depending on how they are managed:

(1) Specified Money Trust: The trustor gives detailed instructions on how the money will be managed. There is no guarantee of the principal, and the dividend income depends on the performance. Securities investment trusts are a good example of this.

(2) Designated Money Trust The trustor merely limits the scope of the investment, and the trustee fulfills the investment responsibility. The exceptional case is the joint investment designated money trust, which is allowed to jointly invest large and small funds, guarantee the principal, and guarantee the profits, and it accounts for the overwhelming majority of money trusts. Generally, this is what is meant when people say money trust.

(3) Undesignated Money Trusts These are trusts in which the investment method is neither specified nor designated, and at first glance they may appear to be free, but due to strict legal regulations, in reality there is no merit to them and no contracts have been made for them.

[Shoichi Asashima]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

信託財産として金銭を受け入れ、信託終了時に金銭で交付することを約した信託。運用方法により次の3種に分類される。

(1)特定金銭信託　委託者が運用方法を詳細に指示するもので、元本保証はなく収益配当は実績しだい。証券投資信託がその好例である。

(2)指定金銭信託　委託者は運用の範囲を限定するだけで、受託者が運用責任を果たすもの。例外的に大小資金の合同運用、元本保証、収益保証を認められたのが合同運用指定金銭信託で、金銭信託の圧倒的部分を占めている。一般に金銭信託とよぶときには、これをさすことが多い。

(3)無指定金銭信託　運用方法を特定も指定もしないもので、一見自由にみえるが、厳しい法的規制のため、現実には妙味なく契約は皆無の状態である。

［麻島昭一］

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