The difference between a fund custodian and a custodian:
1. Fund custodians of different natures sign custody agreements with fund managers, perform their duties according to the agreements, and collect certain remuneration at the same time. According to the custody agreement, the fund manager is responsible for the operation and management of the fund and pays certain remuneration to the fund custodian;
2. Different fund managers are usually fund companies and securities companies, such as Tian Hong Fund, Guangfa Fund, Taikang Assets and Dongxing Securities. Fund custodians are usually commercial banks, such as China Bank, Industrial and Commercial Bank, Agricultural Bank and Bank of Communications.
3. Fund custodians with different responsibilities are mainly responsible for implementing the investment instructions of the fund manager and supervising and managing the investment operation of the fund manager. At the same time, audit the fund assets, keep the books and records of the foundation, and issue the fund performance report. Fund managers are responsible for the investment management of fund assets, provide fund financial services, calculate and announce the net value of fund assets and fund shares, and pay fund investment income to fund holders.
Legal basis: Article 3 of People's Republic of China (PRC) Securities Investment Fund Law.
The rights and obligations of fund managers, fund custodians and fund share holders are stipulated in the fund contract in accordance with this Law. Fund managers and fund custodians shall perform their fiduciary duties in accordance with this Law and the provisions of fund contracts. Fund share holders of funds established through public offering (hereinafter referred to as Public Offering of Fund) shall enjoy benefits and bear risks according to their fund shares, and the income distribution and risk bearing of funds established through non-public offering (hereinafter referred to as non-public offering funds) shall be stipulated in the fund contract.