Proprietary fund

(redirected from Proprietary Funds)

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 ?
Since its founding, Ivy Asset Management's primary business was managing its own proprietary funds of hedge funds.
The lawsuit seeks to recover (1) all fees paid to JPMorgan in connection with purchases of JPMorgan's proprietary funds and investments, (2) all ongoing management fees collected by JPMorgan on client portfolios that contained positions in JPMorgan proprietary funds and investments, (3) all other fees that JPMorgan received as a results of its clients' investments in JPMorgan proprietary funds and investments, and (4) compensatory, consequential, and punitive damages recoverable at law, equity, or under N.
Second, it was virtually impossible to aggregate the governmental and proprietary funds into meaningful totals for the entire government.
Proprietary funds universities that apply the AICPA audit guide model, and aH other entities that apply accrual-basis accounting, will recognize pension expense equal to annual pension cost and a fund liability (or asset) for any NPO.
Palmer Square Capital Management provides investment advisory services, proprietary funds, and customized allocations focused specifically on alternative investments such as hedge funds and private equity funds.
The GASB also issued a discussion memorandum (DM) to gather views on how contributions, subsidies, tap fees and similar inflows reported in government proprietary funds should be recognized and displayed in financial statements.
The complaint alleges that Washington Mutual and its subsidiary companies had an undisclosed "preferred list" of funds, and issued materially misleading disclosures and omissions regarding side agreement (cash and non cash program) designed to improperly incent WM Financial Services and its sales team to favor Washington Mutual's proprietary funds, (the WM Group of Funds) and thereby drive sales, regardless of alternatives for their individual retail investor.
For employers, there are no additional or hidden fees and no packaging of investment options to include expensive proprietary funds.
Under current accounting and financial reporting standards, proprietary funds and similar trust funds (i.
The Government Accounting Standards Board, in a surge of activity, issued final statements on three disparate issues--accounting for closed municipal landfills, university Pell grants and proprietary funds.
Midsummer will invest the proceeds from the repayment in two proprietary funds managed by MCF Asset Management, LLC.
In addition to managing Schwab proprietary funds, CSIM provides oversight for the institutional-style, sub-advised Laudus Fund family.