Blind trust


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Blind trust

A trust in which a fiduciary third party has total discretion to make investments on behalf of a beneficiary while the beneficiary is uninformed about the holdings of the trust.

Blind Trust

A trust where the beneficiary is not given knowledge of the assets in it. The trustee has knowledge of the assets and is responsible for investing them on behalf of the beneficiary. A grantor usually sets ups a blind trust to avoid potential conflicts of interest.

Blind trust.

A blind trust is created when a third party, such as an investment adviser or other trustee, assumes complete control of the assets held in a trust.

Elected officials often set up blind trusts to reassure the public that political decisions are not being made for personal financial benefit.

References in periodicals archive ?
However, it cautions the authorities in Islamabad to be aware of the fact that its current chaotic situation is due to its one time blind trust on the United States for aid, and therefore, would be well advised to avoid a repeat with China.
Even if there is no inappropriate communication, setting up a blind trust can be complex and expensive, it may be less burdensome in some cases to simply disclose potential conflicts of interest as they arise.
By April, Sitton had promised to step down from his position as president and CEO and place his assets in a blind trust, saying he was going "beyond what is required by the statutes" to "avoid even the appearance of a conflict.
Blind trusts have been used by ministers in the past so they are not aware of what shares they own.
Other REITs, known as blind trusts, have no property yet but want to take advantage of pending bargains.
Pinera, who also owns one of the country's four television networks and the popular Colo-Colo football club, set up a blind trust to manage about $500m of his fortune, and promised specifically to sell his LAN investment if he won the election.
In an interview with CNN's Larry King, the president said his money was in a blind trust and that he last spoke with the trustees eight years ago.
You may be one of those who thinks that the Scotsman is a financial wizard whose mega-spending plan deserves blind trust.
Blind trust ("Trust me because I know what is best for you") is a paternalistic concept that depends on authority, status and power.
We are glad it has responded to our concerns, but we are not so foolish as to start relying on blind trust in Waste Management.
Blind faith and blind trust toward health care are luxuries we can no longer afford," writes Colleen Badell Ph.
The level of blind trust, almost on the level of a faith itself, will never be enjoyed by the clergy of the U.