WHO ARE PARTIES TO A MUTUAL FUND?
The main parties involved in the organisation and operation of a mutual fund are: i) The Mutual Fund Company The company established to operate as a mutual fund company. ii) The Manager The professional fund manager appointed by the Mutual Fund Company to manage the fund s investments. The manager must be a body corporate licensed by the Securities and Exchange Commission (SEC) as an Investment Advisor. iii) The Custodian A company appointed by the Mutual Fund Company to keep custody of all the securities owned by the fund. The custodian must either be a bank, an insurance company or a financial institution or a wholly owned subsidiary of any of them approved by the SEC.
