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Custodian bank

A custodian bank must be appointed for the custody of securities belonging to a UCITS or an AIF as well as for managing accounts belonging to the UCITS or AIF. A custodian bank is also to be assigned these tasks in accordance with the Act on Severance and Retirement Funds for Salaried Employees and Self-Employed Persons (BMSVG – Betrieblichen Mitarbeiter- und Selbständigenvorsorgegesetz) with regard to the collective investment scheme. A custodian bank is a credit institution that is licenced to conduct custody business.