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Custody
In order
to protect investors, the assets
of a fund must be held by a
custodian so that the assets are
segregated from those of the
Manager and are protected from the
Managers insolvency.
The key
role of the custodian is to hold
the register and certificates for
all the assets owned by the fund
and to perform reconciliations
between its own records of assets
and the certificates held, whether
physical or dematerialised in
CREST / Euroclear.
The
custodian is also responsible for
the following: |
