Fund administration is the completion of many back-office tasks that support an investment fund. In addition to interacting with investors, these responsibilities also involve fund accounting, financial reporting, determining net asset value, capital calls, and distributions. An investment fund can come in a wide range of sizes and shapes, including traditional mutual funds, hedge funds, private equity funds, venture capital funds, pension funds, unit trusts, and other kinds of pooled investment vehicles. Fund managers commonly prefer to contract out part or all of these duties to outside, specialized entities, such as the custodian bank for the fund or the transfer agent. These businesses are known as fund administrators.