Operations on WebNotes

Mutual fund custodian (India)

Wed, 13 May 2026 00:00:00 +0000

The mutual fund custodian in India is a separately registered intermediary that holds the securities of every mutual fund scheme on behalf of unit-holders, independently of the asset management company that manages those securities. The role is constituted under the SEBI (Custodian of Securities) Regulations, 1996, and is made mandatory by Regulation 26 of the SEBI (Mutual Funds) Regulations, 1996 , framed under the SEBI Act, 1992 . The custodian is one of the external service providers, alongside the registrar and transfer agent and the scheme auditor, that the trustee of a fund must appoint.

Mutual fund fund accountant (India)

Wed, 13 May 2026 00:00:00 +0000

The mutual fund fund accountant (India) is the entity or department that computes the daily mark-to-market net asset value of each scheme, maintains the scheme-level books of account, charges allowable expenses and operates the accounting of unit-holder distributions. The role is constituted under Regulations 47 to 50 and the Eighth Schedule of the SEBI (Mutual Funds) Regulations, 1996 , framed under the SEBI Act, 1992 . Every asset management company is required to ensure the function is carried out by competent personnel with appropriate systems, whether retained in-house or outsourced.