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  Monday November 20, 2017

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THE CUSTODIAN
Learn even more about this topic with the Encyclopedia of Personal Finance™

The custodian of a mutual fund safeguards the fund's money and other physical assets.

This party is usually a bank. In addition to ensuring that assets are in safe keeping, the custodian takes care of bookkeeping and other clerical tasks.

The custodian takes in investors' payments and holds the fund shares (as an accounting book entry). The custodian may also calculate the net asset value of the fund's shares at the end of each day.

To make sure that there is no conflict of interest or illegal activity, the fund chooses an independent party to be the custodian. This party takes no part in the fund's investment decisions.

Next, we will look at the transfer agent.




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