Custodian

An organization, usually a bank or any other approved institutions, that hold the securities and other assets of mutual funds and other institutional investors.

Related Terms

Investment Company

A corporation, trust or partnership that invests pooled unit holder/shareholder money in securities appropriate to the organization’s objective. Mutual funds, close–ended funds and unit investment trusts are the three types of investment companies.

Accounts Payable

A current liability showing the amounts due to others within a period of one year when such liability resulted from the purchase or manufacturing of inventory.

Beta

A measure of the volatility of a stock relative to the market index in which the stock is included. A low beta indicates relatively low risk; a high beta indicates a high risk.

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