What means Custodian?

The custodian, a legal entity, is responsible for the custody of assets of a collective investment scheme. As mandated by the Wft (Financial Supervision Act), the custodian maintains legal ownership while the fund, like a CV, holds beneficial ownership. The custodian is tasked with oversight functions such as monitoring cash flows within the real estate fund. According to Wft Article 1.1, appointing a custodian is obligatory for investment institutions.