FIN1085B1:What is the depositary role and responsibility with respect to Starr’s investment activity on behalf of the Lennon Fund?

  1. What are the specific responsibilities and duties of the depositary regarding Starr`s investment activities on behalf of the Lennon Fund?
  2. How would the Structured Note be categorized under the UCITS Directive? What asset class does it represent?
  3. How does this classification affect the risk exposure for investors in the Lennon Fund in terms of asset safety? How does investing in the Structured Note differ in terms of risk compared to direct investments in FTSE 100 securities?
  4. What course of action, if any, should MTS pursue based on these considerations?