Method and apparatus for managing a virtual mutual fund

Details Method and apparatus for managing a virtual mutual fund Method and apparatus for managing a virtual mutual fund

2006-10-03

2006-10-03

Poinvil, Frantzy (Department: 3628)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S03600T

Reexamination Certificate

active

07117175

ABSTRACT:
A method and apparatus system for managing virtual mutual funds. A plurality of investment managers manage a plurality of accounts for a plurality of investors. The investors directly hold assets in the accounts so that the investors may take advantage of any tax benefits generated by transactions using the assets in the accounts. An investor may have one or more accounts and thus one or more managers. A manager may have one or more investors and thus one or more accounts to manage. A virtual mutual fund manager uses a holdings matrix and a lot matrix to track the asset lots in the accounts. When a manager wishes to make a trade affecting an investor, the virtual mutual fund manager determines which asset lots held by the investor should be used to execute the trade. Optionally, each investor may be associated with a tax-managed account. The tax-managed account is used by the virtual fund manager to make deferred “paper” trades thereby avoiding certain adverse tax consequences that may be created when an investor has multiple managers. Optionally, each investor may allow loss-harvesting trades to be executed on his or her behalf in circumstances where such trades may reduce the investor's tax obligations.

REFERENCES:
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patent: WO 98/44444 (1998-10-01), None
Davey, Tom, “3-D Market Monitor”, Informationweek n725 PP:73, Mar. 15, 1999, ISSN: 8750-6874, Dialog file 15, Accession No. 01843989.

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