MutualFundWire.com: Starting Your Own Fund Family: Hire a Custodian
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Tuesday, May 3, 2011

Starting Your Own Fund Family: Hire a Custodian


Eight Simple Steps to Starting Your Own Mutual Family

Step Five: Custodian

See Other Steps
  • Step 1

  • Step 2

  • Step 3

  • Step 4

  • Step 6

  • Step 7

  • Step 8

    • One of the investor protections of the 1940 Act is that the investment adviser for the mutual fund does not hold the actual assets of the fund. Instead, that role is fulfilled by the custodian. The custodian may also price the assets and calculate the funds' NAV each day.

    The MFWire has uncovered more than 70 custodians listed in regulatory filings as serving the 723 fund families currently in existence. The following are the 10 with the most clients:

  • U.S. Bank NA
  • State Street Bank & Trust Company, N.A.
  • Bank of New York Mellon Corporation/ PFPC Trust Company
  • Union Bank, NA
  • Huntington National Bank
  • UMB Bank, NA
  • JPMorgan Chase Bank, N.A.
  • Brown Brothers Harriman & Co.
  • Fifth Third Bank
  • First National Bank of Omaha

    Editor's note: This article is part of The MFWire.com's eight-step primer for starting a mutual fund family.


    Printed from: MFWire.com/story.asp?s=36698

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