US2003009404A2PendingUtilityA2

Open end mutual fund securitization process

55
Assignee: MOPEX INCPriority: Oct 12, 1995Filed: Apr 18, 2001Published: Jan 9, 2003
Est. expiryOct 12, 2015(expired)· nominal 20-yr term from priority
Inventors:Kenneth KironKevin S. Bander
G06Q 40/04G06Q 40/00G06Q 40/06
55
PatentIndex Score
0
Cited by
0
References
0
Claims

Abstract

Abstract of Disclosure A mutual fund securitization process permitting the trading of open end mutual funds and linked derivative securities on or off the floor of a National Securities Exchange. The targeted individual open end mutual fund or group of open end mutual funds, selected through a screening process is securitized through the creation of a new, separate security. This new security is preferably a "closed end fund of funds" and linked derivative securities, which synthetically replicate the statistical relationship of the defined individual or group of open end mutual funds. The maintenance of financial records for the new security is maintained by electronically storing dividend, capital gains and income received from the open end funds which have been invested in, and calculating pro-forma financial statements to disseminate to shareholders and all relevant parties.

Claims

exact text as granted — not AI-modified
Claims 
     
         1.  53.  A method comprising the steps of: 
       identifying a collection of securities; 
       identifying a group of securities comprising a subset of the collection of securities; 
       separating the group of securities into a subgroup that satisfy an investment objective and  comprising a subset of the group of securities; 
       creating an open end fund having a number of outstanding shares and comprising of the securities within the subgroup; 
       changing the securities comprising the group; 
       changing the securities comprising the subgroup in response to the changing of the securities comprising the group; 
       trading the outstanding shares of the fund on an exchange at a real time determined price related to the securities comprising the subgroup; and 
       outputting an indication of the real time determined price in a humanly readable format. 
     
     
         2.  90.  The method of  claim 53  wherein the open end fund is not a unit investment trust. 
     
     
         3.  91.  The method of claim  90  wherein the investment objective includes aggressive growth. 
     
     
         4.  92.  The method of claim  90  wherein the investment objective includes growth and income. 
     
     
         5.  93.  The method of claim  90  wherein the investment objective includes growth. 
     
     
         6.  94.  The method of claim  90  wherein the investment objective includes income. 
     
     
         7.  95.  The method of claim  90  wherein the investment objective includes investing in securities within a substantially similar industry. 
     
     
         8.  96.  The method of claim  90  wherein the investment objective includes equity. 
     
     
         9.  97.  The method of claim  90  wherein the investment objective is small companies. 
     
     
         10.  98.  The method of claim  90  wherein the investment objective is government bonds. 
     
     
         11.  99. The method of claim  90  wherein the investment objective is bonds. 
     
     
         12.  100.  The method of claim  90  further comprising the step of listing the outstanding shares on an exchange. 
     
     
         13.  101.  The method of claim  90  further comprising the step of listing on an exchange a derivative having a price related to the real time determined price. 
     
     
         14.  102.  The method of claim  90  further comprising the step of calculating overall positions of shareholders of the outstanding shares. 
     
     
         15.  103.  The method of claim  90  further comprising the step of electronically trading the 
       outstanding shares. 
     
     
         16.  104.  A method comprising the steps of: 
       listing outstanding shares of a open end fund having a portfolio comprising of securities that satisfy an investment objective and are a subset of an identified group, the securities within the portfolio being weighted and the portfolio being changeable in response to a change in the identified group; 
       trading the outstanding shares of the fund on an exchange at a price related to the price of the securities within the portfolio; and 
       displaying in real time the price that the outstanding shares were traded on the exchange. 
     
     
         17.  105.  The method of claim  104  further comprising the step of identifying a universe of securities registered within a country and including said identified group and other securities. 
     
     
         18.  106.  The method of claim  104  further comprising the step of listing a derivative having a price related to the price of the outstanding shares. 
     
     
         19.  107.  The method of claim  104  further comprising the step of calculating overall positions of shareholders of the outstanding shares. 
     
     
         20.  108.  The method of claim  104  further comprising the step of electronically trading the 
       outstanding shares. 
     
     
         21.  109.  The method of claim  104  wherein the open end fund is not a unit investment trust. 
     
     
         22.  110.  The method of claim  104  wherein the investment objective includes aggressive growth. 
     
     
         23.  111.  The method of claim  104  wherein the investment objective includes growth and income. 
     
     
         24.  112.  The method of claim  104  wherein the investment objective includes growth. 
     
     
         25.  113.  The method of claim  104  wherein the investment objective includes income. 
     
     
         26.  114.  The method of claim  104  wherein the investment objective includes investing in securities within a substantially similar industry. 
     
     
         27.  115.  The method of claim  104  wherein the investment objective includes equity. 
     
     
         28.  116.  The method of claim  104  wherein the investment objective is small companies. 
     
     
         29.  117.  The method of claim  104  wherein the investment objective includes government bonds. 
     
     
         30.  118.  The method of claim  104  wherein the investment objective includes bonds. 
     
     
         31.  119.  An open end fund comprising: 
       a portfolio comprising of securities that satisfy an investment objective, the securities within the portfolio being weighted and the portfolio being changeable in response to a change in the identified group; 
       a plurality of outstanding shares of the open end fund listed and tradable on an exchange at a price related to the price of the securities within the portfolio; and 
       an electronic system that displays in real time the price that the outstanding shares were traded on the exchange. 
     
     
         32.  120.  The fund of claim  119  wherein said identified group is a subset of a universe of securities registered within a country. 
     
     
         33.  121.  The fund of claim  119  wherein the open end fund is not a unit investment trust. 
     
     
         34.  122.  The fund of claim  121  wherein the investment objective includes aggressive growth. 
     
     
         35.  123.  The fund of claim  121  wherein the investment objective includes growth and income. 
     
     
         36.  124.  The fund of claim  121  wherein the investment objective includes growth. 
     
     
         37.  125.  The fund of claim  121  wherein the investment objective includes income. 
     
     
         38.  126.  The fund of claim  121  wherein the investment objective includes investing in securities within a substantially similar industry. 
     
     
         39.  127.  The fund of claim  121  wherein the investment objective includes equity. 
     
     
         40.  128.  The fund of claim  121  wherein the investment objective is small companies. 
     
     
         41.  129.  The fund of claim  121  wherein the investment objective is bonds. 
     
     
         42.  130.  The fund of claim  121  wherein the investment objective is government bonds. 
     
     
         43.  131.  A method comprising the steps of: 
       buying outstanding shares of an open end fund having a portfolio comprising of securities that satisfy an investment objective, the securities within the portfolio being weighted and the portfolio being changeable in response to a change in the identified group; 
       selling the outstanding shares of the fund on an exchange at a price related to the price of the securities within the portfolio; and 
       displaying in real time the price that the outstanding shares were traded on the exchange. 
     
     
         44.  132.  The method of claim  131  wherein the fund is not a unit investment trust. 
     
     
         45.  133.  The method of claim  131  wherein the investment objective includes aggressive growth. 
     
     
         46.  134.  The method of claim  131  wherein the investment objective includes growth and income. 
     
     
         47.  135.  The method of claim  131  wherein the investment objective includes growth. 
     
     
         48.  136.  The method of claim  131  wherein the investment objective includes income. 
     
     
         49.  137.  The method of claim  131  wherein the investment objective includes investing in securities within a substantially similar industry. 
     
     
         50.  138.  The method of claim  131  wherein the investment objective includes equity. 
     
     
         51.  139.  The method of claim  131  wherein the investment objective is small companies. 
     
     
         52.  140.  The method of claim  131  wherein the investment objective is government bonds. 
     
     
         53.  141.  The method of claim  131  wherein the investment objective is bonds. 
     
     
         54.  142.  The method of claim  131  further comprising the step of identifying a universe of securities registered within a country and including said identified group and other securities. 
     
     
         55.  143.  A method comprising the steps of: 
       listing on an exchange outstanding shares of an open end fund having a portfolio comprising of securities that satisfy an investment objective, the portfolio being changeable in response to a change in the identified group, and the identified group being a subset of a universe of securities registered within a country; 
       providing an exchange for trading outstanding shares of the fund at a price related to the price of the securities within the portfolio; and 
       displaying in real time the price that the outstanding shares were traded on the exchange. 
     
     
         56.  144.  The method of claim  143  wherein the open end fund is not a unit investment trust. 
     
     
         57.  145.  The method of claim  143  wherein the investment objective includes aggressive growth. 
     
     
         58.  146.  The method of claim  143  wherein the investment objective includes growth and income. 
     
     
         59.  147.  The method of claim  143  wherein the investment objective includes growth. 
     
     
         60.  148.  The method of claim  143  wherein the investment objective includes income. 
     
     
         61.  149.  The method of claim  143  wherein the investment objective includes investing in securities within a substantially similar industry. 
     
     
         62.  150.  The method of claim  143  wherein the investment objective includes equity. 
     
     
         63.  151.  The method of claim  143  wherein the investment objective is small companies. 
     
     
         64.  152.  The method of claim  143  wherein the investment objective is bonds. 
     
     
         65.  153.  The method of claim  143  wherein the investment objective is government bonds. 
     
     
         66.  154.  A method comprising the steps of: 
       listing outstanding shares of an open end fund having a portfolio comprising of securities registered within a country and a subset of an identified group, the securities within the portfolio being weighted and the portfolio being changeable in response to a change in the identified group; 
       providing an exchange for trading the outstanding shares at a price related to the price of the securities within the portfolio; and 
       displaying in real time the price that the outstanding shares were traded on the exchange. 
     
     
         67.  155.  The method of claim  154  further comprising the step of identifying a universe of securities registered within a country and including said identified group and other securities. 
     
     
         68.  156.  The method of claim  154  further comprising the step of listing a derivative having a price related to the price of the outstanding shares. 
     
     
         69.  157.  The method of claim  154  further comprising the step of calculating overall positions of shareholders of the outstanding shares. 
     
     
         70.  158.  The method of claim  154  further comprising the step of electronically trading the outstanding shares.

Cited by (0)

No later patents cite this yet.

References (0)

No backward citations on record.