Custody services for investment funds to be carried out by HVB Bank

HVB bank in Belgrade has obtained the permit for expansion of activities in accordance with the Law. This bank has got the license to carry out custody services for investment funds.

The Law stipulates that the custody bank sends daily reports to the Securities Commission, which means that it will have the control function, the function of supervisor of legality and regularity of operations of the investment funds and the function of management of the funds' property.

According to the Law, the duty of the custody banks, aside from the daily reports on the value of the property of funds, will be to deliver reports on any irregularity in the process of management of investment funds.