Proprietary fund

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.

References in periodicals archive ?
In proprietary fund financial statements and government-wide financial statements, the entire amount of the equity interest would be recorded in financial statements prepared using the economic resources measurement focus and the accrual basis of accounting.
Additionally, each proprietary fund charges fees in excess of the fees the plan would have paid by purchasing comparable separately managed accounts," the complaint said.
Daley, executive vice president of Richman, "Fund 88, along with several proprietary fund executions, puts Richman on track in 2012 to close almost $1 billion in equity investments in affordable multifamily, senior and special needs properties throughout the U.
Delivered via Sauer Caputal's proprietary fund accounting platform, the automated service enables fund managers to easily segregate illiquid investments.
29, provides guidance on accounting for insurance recoveries and was applicable to government-wide and proprietary fund financial statements.
Proprietary fund reporting concentrates on operating income determination, changes in net assets, financial position, and cash flows.
Wit Capital Group Inc, parent of online investment banking firm Wit Capital Corp, says it has closed its first proprietary fund, Arista Capital Partners LP, a $39.
Because of this legal right of offset, the employer is able to subtract the resources of the pension/OPEB trust (fiduciary net position, or FNP) from its total pension/OPEB liability when calculating the net pension/OPEB liability that it reports on its government-wide statement of net position and its proprietary fund statement of net position.
While 38% in this segment still recommend proprietary fund offerings from the plan provider, and 46% recommend TDFs provided by external third-party managers, Cogent suggests this is a clear sign of market evolution toward greater use of customization.
After adopting Concepts Statement 4, GASB began to consider whether transactions addressed in new accounting standards resulted in reporting items in the government-wide and proprietary fund statements of net assets (and sometimes in the fiduciary funds statement of net assets) that met the definitions of deferred outflows and deferred inflows.
In addition to our multi-investor fund offerings, Richman had several proprietary fund programs which closed throughout 2011.
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.