Mutual Fund Custodian
Definition - What does Mutual Fund Custodian mean?
Mutual Fund Custodian is a qualified financial institution that maintains physical custody of a mutual fund’s cash and securities. Custodians are usually banks, trust companies, or Exchange member firms.
Testopedia explains Mutual Fund Custodian
Mutual funds purchase a large number of securities and hold a significant amount of cash in the fund's portfolio. All of the mutual fund's cash and securities must be kept in a safe and secure location. A mutual fund's custodian will ensure that all of the assets of the fund are protected in a secure location.