The custodian is the legal person responsible for the custody of the assets of the collective investment scheme. According to the Wft, the manager and the custodian must be independent of each other and the custodian must retain legal ownership of the property. The beneficial ownership of real estate is held by a fund (such as a CV). The custodian also has the control and supervision tasks of the real estate fund, for example he supervises the cash flows. Pursuant to Article 1.1 of the Wft, a custodian is mandatory for an investment institution.
