Bank that takes care of the securities of a fund and liquidates operations made using these, controlling the activity of the management company to the favour of the unit holders of the fund.
a bank or trust company that is supervised and examined by state or federal authority having supervision over banks and is acting as custodian for a clearing corporation
A financial institution responsible for the safekeeping and administration of the General Board's investment assets. Mellon Bank of Pittsburgh, Pennsylvania, is the General Board's custodian bank.
Contractual partner of the investor, together with the fund management company. The custodian bank deals with the safekeeping of the fund's assets, is responsible for the issue and redemption of fund units and monitors the fund management company's compliance with the Investment Fund Act and the fund regulations.
Bank with whom the amounts invested in a fund are deposited.
The Financial Services Authority custody rules require Finspreads to place all client funds into a Custodian Bank
Bank assigned by a mutual fund to act as its custodian. The bank performs clerical functions and holds the fund's cash and securities. See: Custodian; Mutual Fund
Under the terms of the Swiss Investment Fund Act (IFA), the custodian bank jointly enters into a contractual relationship with the investor and the management company. The custodian's duties include the safekeeping of the fund's assets, the issuing and redemption of units and the handling of payment transactions. It is also responsible for ensuring that no investments are made contrary to the stipulations of the IFA or the fund regulations.
The bank designated by a mutual fund to act as its custodian. The custodian bank hold the cash and securities of the fund and usually provides clerical functions. It does not perform any management function.
The bank designated by a mutual fund to hold the cash and securities of the fund and maintain fund level account records.
In finance, a custodian bank, or simply custodian, refers to a financial institution responsible for safeguarding a firm's or individual's financial assets. The role of a custodian in such a case would be the following: to hold in safekeeping assets such as equities and bonds, arrange settlement of any purchases and sales of such securities, collect information on and income from such assets (dividends in the case of equities and interest in the case of bonds), provide information on the underlying companies and their annual general meetings, manage cash transactions, perform foreign exchange transactions where required and provide regular reporting on all their activities to their clients. Custodian banks are often referred to as global custodians if they hold assets for their clients in multiple jurisdictions around the world, using their own local branches or other local custodian banks in each market to hold accounts for their underlying clients.
