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Proprietary Fund
(redirected from Proprietary Funds)

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Proprietary Fund
A mutual fund sponsored and managed by a certain financial institution. For example, all funds managed by Bank XYZ are considered Bank XYZ's proprietary funds. While some financial institutions offer other institutions funds along with their own, many only sell their own proprietary funds to investors.

Proprietary fund. Proprietary mutual funds are offered for sale by the financial institution -- such as a bank, investment company, or brokerage firm -- that sponsors the funds.

Characteristically, the funds' names include the name of the institution. For example, a hypothetical bank called Last Bank might offer a Last Bank Growth Fund or a Last Bank Capital Appreciation Fund.

Some institutions market only their proprietary funds, while others offer both their own funds and funds sponsored by others.



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According to their 2009 CAFR, the County summarizes the activities of the general fund, three major special revenue funds, 28 non-major special revenue funds, five major proprietary funds, one non-major proprietary fund, four non-major capital projects funds, one debt service fund, one investment trust fund, and 17 agency funds.
Critics also argue that proprietary funds are a bad idea because no one company has top-performing funds in every asset class.
2) That is, private-sector standards were presumed to apply automatically to proprietary funds as well.
 
 
 
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