The fourth chapter mainly studies the investment fund custodian , in this part , conception , legal status and fiduciary duty are respectively explored . then , the role of independent director in the corporate governance in investment fund industry is specifically analyzed . finally , some suggestions on perfection of custodian system , such as establishment of trustee committee , the separation qf the monitoring function and custodian function , and reporting to custodian by the managers before the execution of material transaction 第一节介绍了基金托管人的概念及各国对这一机构的设置情况，然后对基金托管人的法律地位进行了探讨，笔者认为，从投资基金作为一个独立的法律主体来理解，基金托管人相当于投资基金的管理机关，从当事人之间的法律关系的角度来理解，基金托管人是投资基金中信托的受托人，但是这种信托是合同安排的一部分。
