An Economic Analysis of the Legal Concept of Trustees' Power of Investment

Authorised trustee status is a legal concept which has economic implications; one of the major implications is that it assists in the direction of investment funds into particular securities and areas of the economy. The concept of authorised trustee status, while attempting to achieve specific outcomes for the beneficiaries of trusts cannot be relied upon to secure these results. Economic analysis of the role of the trustee maintains that this role is one of portfolio manager; a role which is complex but which is explicable in terms of definable procedures and practices. The role of trustee as portfolio manager is one which requires greater financial knowledge than can be assumed is possessed by all trustees. The trustee as portfolio manager is required to maintain a review of decisions make under powers to invest trust assets. A solution to the problem of authorised trustee status is proposed. The solution takes two parts: the first is the adoption of the prudent person approach but with the codification of duties of the trustee and the explicit listing of the factors that a trustee should consider in using the investment powers. The second part of the proposed solution is to link the investment powers of trustees to the best practice features of securities advisers who are now licensed by a regulatory body, the Australian Securities and Investment Commission.

Rural community pharmacists integrating care for people with complex health needs

The project involves rural/regional community pharmacists integrating care for complex needs patients and delivering a range of services, based on a care plan developed collaboratively with the GP and the consumer. The pharmacist will coordinate other services based on the multidisciplinary care plan. This research follows a successful pilot project and offers an opportunity to investigate new health service delivery in rural areas for patients at greater health related risk. Care integration will be compared to usual care, with outcomes relating to medication and health service usage, as well as clinical and quality of life outcomes being compared

The mu-way intersection problem for m-cycle systems

An m-cycle system of order upsilon is a partition of the edge-set of a complete graph of order upsilon into m-cycles. The mu -way intersection problem for m-cycle systems involves taking mu systems, based on the same vertex set, and determining the possible number of cycles which can be common to all mu systems. General results for arbitrary m are obtained, and detailed intersection values for (mu, m) = (3, 4), (4, 5),(4, 6), (4, 7), (8, 8), (8, 9). (For the case (mu, m)= (2, m), see Billington (J. Combin. Des. 1 (1993) 435); for the case (Cc,m)=(3,3), see Milici and Quattrochi (Ars Combin. A 24 (1987) 175. (C) 2001 Elsevier Science B.V. All rights reserved.

On the intersection problem for 1-factorizations and near 1-factorizations of K-v

The number of 1-factors (near 1-factors) that mu 1-factorizations (near 1-factorizations) of the complete graph K-v, v even (v odd), can have in common, is studied. The problem is completely settled for mu = 2 and mu = 3.

On the Oberwolfach problem with two similar length cycles

For all in greater than or equal to 3, the Oberwolfach problem is solved for the case where the 2-factors consist of two cycles of lengths in and m + 1, and for the case where the 2-factors consist of two cycles of lengths m and m + 2.