A custodian bank manages the fund's assets in trust, holds the equity securities and deals with the settlement of the fund company and the transactions of the fund manager on instruction.

The financial institution books all securities purchases and sales to this account and the related account statement reflects the value of all the client's investments.

The fee received by a bank or a investment company for custody and administration of fund shares.

Customer transactions are conducted between the Bank and the Customer at the published rate in the quotation list.