Mutual-Fund Advisory Program

(redirected from Mutual Fund Wrap)
Also found in: Acronyms.

Mutual-Fund Advisory Program

An investment vehicle in which an investor works with an investment adviser to take a long position in several mutual funds. The program utilizes an asset allocation method that matches the investor's goals. The investor does not pay fees for each mutual fund, but rather pays the average fee to the investment adviser. A mutual fund advisory program allows the investor greater autonomy over his/her portfolio. It is also called a mutual fund wrap. See also: Fund of funds.
References in periodicals archive ?
A recent report on such accounts by Cerulli Associates, a Boston investment consulting firm, says that mutual fund Wrap account assets make up 11% of total Wrap assets under management, with $12.
The first installment, A New Approach to Wealth Management , offers a brief introduction to overlay portfolio management, and how it differs from traditional private wealth, mutual fund wraps and separately managed account (SMA) programs.
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