1. Different responsibilities: fund manager, mainly responsible for fund investment decision-making, portfolio construction, asset allocation, securities trading and daily management. According to the provisions of the fund contract, use professional knowledge and skills to pursue the maximum return on investment for fund investors, and be responsible for the design, marketing, share registration and transfer of fund products, and the preparation of periodic reports.
The fund custodian is mainly responsible for keeping the fund assets and ensuring the safety and integrity of the fund assets. They open independent fund custody accounts, review and implement the investment instructions of fund managers, supervise whether the investment operation of fund managers conforms to laws and regulations and the provisions of fund contracts, and are responsible for fund settlement, accounting, net worth calculation and information disclosure, so as to protect the interests of fund holders from infringement.
2. Different legal responsibilities and obligations: the fund manager is directly responsible for the investment performance of the fund and should ensure the compliance and rationality of investment decisions. The fund custodian has a legal obligation to the security of the fund assets, and must perform strict custody duties, and shall not misappropriate or occupy the fund assets.
3. Different sources of income: Fund managers earn income by collecting fund management fees and performance awards. Fund custodians collect custody fees as service income.
Different qualification requirements: fund managers are usually held by professional investment management institutions that meet regulatory requirements, such as fund management companies. Fund custodians are generally held by commercial banks, trust companies and other financial institutions with fund custody qualifications, and must meet the strict capital adequacy ratio, risk control and professional team building requirements of regulatory authorities.