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 2017, Chartwell organized its own stand-alone trust and moved each of the Funds into its own proprietary fund family, building a fund complex with a total of over 9,000 shareholder accounts.
Ultimus Fund Solutions(r) selected to provide fund administration services
His expertise includes equity research, proprietary fund management for bank treasuries and investment advisory.
DHFL Pramerica AMC appoints Rajesh Iyer as CEO
(ICMI), has served as investment adviser and manager of managers for the Penn Series Funds, Inc., a proprietary fund complex.
The 8 biggest announcements from life and health insurers this week
Proprietary fund types were the Enterprise and Internal Service Funds.
Historical development of the financial reporting model for state and local governments in the United States from late 1800s to 1999
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.S.
Richman closes $186m fund
Further, fixed assets might also have been acquired from proprietary fund, which is showing 47 percent proprietary funds for the study period.
Altman's model for predicting business failure: case study of HAFED
Delivered via Sauer Caputal's proprietary fund accounting platform, the automated service enables fund managers to easily segregate illiquid investments.
Sauer Capital S.A. Introduces Side Pocket Accounting Feature for Hedge Fund Managers
Proprietary fund reporting concentrates on operating income determination, changes in net assets, financial position, and cash flows.
What the Accountant Must Know ABOUT Governmental Accounting Standards Board (GASB) Statement Number 34
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 $39.5m internet-related private equity fund.
Wit Capital Set Up $39.5m Equity Fund
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.
GASB Issues Exposure Draft on Majority Interests
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.
The new face of government balance sheets: illustrating the changes under GASB Statements 63 and 65
In addition to our multi-investor fund offerings, Richman had several proprietary fund programs which closed throughout 2011."
Richmand closes $250m fund
Financial browser ?
Full browser ?