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.
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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 $12.4 billion of assets.
Super mutual fund wraps: Contingent deferred annuities back on track.
Variable annuities 65% Separately managed accounts 63% Life insurance 45% Mutual fund wraps 37% Commissionable mutual funds 19% Unified managed accounts 19% Note: Table made from bar graph.
Meanwhile, yet another layer exists on top of the four quadrants: a range of fee-based products, including separately managed accounts, mutual fund wraps, ETF wraps and unified managed accounts.
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