The Board of Trustees in the terms of the Delaware Statutory Trust (DST) industry refers to a group of individuals who hold a fiduciary responsibility to manage the affairs of the trust for the benefit of the trust’s beneficiaries. Here’s a more detailed breakdown:

Delaware Statutory Trust (DST): A DST is a legally recognized trust that is set up for the purpose of business, but not necessarily limited to real estate investment. It’s created under Delaware’s statutory law, which provides a flexible framework for the operation of these trusts.
Board of Trustees: This board acts similarly to a board of directors in a corporation. The trustees are tasked with overseeing the DST’s operations and ensuring that it adheres to its stated investment objectives and policies.
Responsibilities: Trustees have the duty to manage the trust’s assets, which could include real estate, securities, or other investments. They make decisions on acquiring or disposing of assets, managing property, and distributing income to the beneficiaries.
Fiduciary Duty: Trustees must act in the best interest of the beneficiaries and are held to a high standard of care. They are expected to avoid conflicts of interest and to manage the trust’s assets prudently.
Appointment: Trustees are either appointed in the trust agreement or elected by the beneficiaries, depending on the terms of the DST.
Regulations: Since DSTs often deal with investment in real estate and can be used for securitization, trustees must also ensure compliance with applicable securities laws and regulations.

In summary, the Board of Trustees in a Delaware Statutory Trust industry serves as the governing body that manages the trust’s activities, assets, and legal obligations, all while maintaining the trust’s purpose for the benefit of its beneficiaries.