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 ?
Using MD PrecisionTM, our patent-pending proprietary fund management process, Manulife Asset Management demonstrated that their investment strategies can help our clients meet their long-term investment goals, said William R.
New guidance recently released by the Governmental Accounting Standards Board may affect the amount that governments with blended component units report as net investment in capital assets on their government-wide statement of net position and on their proprietary fund statement of net position.
Investment managers are continuing to take advantage of our broad selection of both regulated directors and directors together with our proprietary fund governance technologies to deliver more value to their investors.
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.
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.
Proprietary fund reporting concentrates on operating income determination, changes in net assets, financial position, and cash flows.
CPAs and their clients should consider a proprietary fund if
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.
The Auditor Will Perform Financial And Compliance Testing Of Federal Grants Using Sufficient Sample Sizes To Permit Rendering Options As To Whether The Financial Statements Of The Governmental Activities, The Business-type Activities, Each Major Fund, And The Aggregate Remaining Fund Information Are Free Of Material Misstatement, And Whether The Proprietary Fund Schedules And The Schedule Of Expenditures Of Federal Awards Are Fairly Stated In All Material Respects In Relation To The Basic Financial Statements As A Whole.
The third transaction is a proprietary fund with a single insurance company investing $113 million in a diverse pool of assets.
Chapter 16, "Proprietary Fund Financial Statements," examines the format and content of the three basic financial statements presented for proprietary funds, with special emphasis on the statement of cash flows, and how the various categories of cash flows are defined for state and local governments.