The execution of different back-office duties that support an investment fund is referred to as fund administration. These duties include fund accounting, financial reporting, calculating net asset value, capital calls, distributions, communicating with investors, and other associated duties. A standard mutual fund, a hedge fund, a private equity fund, a venture capital fund, a pension fund, a unit trust, or other types of pooled investment vehicles are just a few examples of the many different shapes and sizes that an investment fund can take. The custodian bank or transfer agent for the fund are two examples of outside, specialized organizations that fund managers frequently choose to contract out part or all of these activities. These companies go under the moniker of fund administrators.