Safekeeping

The storage and protection of customers' securities, typically held in a vault, provided as a service by a bank or institution acting as agent for the customer.

Remarks: Bond funds including mutual funds (open-end and closed-end, actively managed and indexed), exchange-traded funds and unit investment trusts offer a convenient and affordable way to invest in a diversified portfolio of bonds, but a bond fund investment can differ from a bond investment in ways that are important to understand.