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  Sunday February 18, 2018

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

The transfer agent has several duties related to the issuing and canceling of mutual fund shares. It is responsible for the following duties:

? Maintaining shareholder records

? Issuing new shares

? Receiving and canceling redeemed shares

? Changing the registration of shares that have been transferred

The transfer agent also sends out dividend and capital gains distributions. Further, it issues proxy ballots and periodic reports to shareholders.

Since the duties of the transfer agent are closely related to those of the custodian, the custodian often acts as the transfer agent of a fund.

The next player we will discuss is the board of directors.




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