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Mutual fund subaccounting is a way to "clear" (the process of buying and selling) the mutual fund transactions. An intermediary record keeps all of the individual shareholder account information, such as the indivdual balances and indivdual transactions and dividends in each fund. The account balances roll up to match an omnibus account balance that is record kept by the transfer agent of the fund. When individual investors buy or sell a particular fund those transactions the intermediary combines those transactions and a minimum number of larger trades are placed with the fund in the omnibus account.
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∙ 15y ago
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Subaccounting involves the aggregation, or bundling of trade data. This enables a brokerage firm (intermediary) to more efficiently and cost effectively trade mutual fund shares on behalf of their clients.
Subaccounting Process:
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The intermediary transmits its transaction order(s) to a subaccounting system/ platform. (I.e. SS&C)
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The trade data is aggregated by fund and management company then sent back to the brokerage firm (intermediary).
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Intermediary transmits the aggregated transactions to the NSCC (National Securities Clearing Corporation)
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NSCC passes the transactions to the appropriate management companies and now each company's fund has on omnibus account per brokerage firm.
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The trades are confirmed by the management company and transmitted to the brokerage system through the NSCC. And the brokerage firm transmits the trades (that were confirmed) to the subaccounting system for processing.
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The individual trades (that are comprised of the aggregated trades) are processed against the shareholder accounts on the subaccounting system.
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What is the meaning of fund accounting with reference to Mutual Funds?
It is the process of reviewing the net financial assets of a mutual fund company.
What was the Reserve Fund?
The Reserve Fund was the first money market mutual fund
What is an activity of the asset accounting sub process?
Which of the following is an activity of the Asset Accounting sub-process
How to close an mutual fund account?
You need to submit a redemption request with the mutual fund house where you have mutual fund investments. The fund house would have given you a folio number when you initially invested the money with them. You need to fill that up in the redemption form. Once you submit your request (Usually a redemption form) the mutual fund house will process your request and will repay you the current value of your investment in 3-5 working days.
What is non fund based accounting?
nothing
Is mutual fund accounting different in Omaha, NE?
There is no real difference in a mutual fund accounting in any area. The only thing to worry about is various laws in different states with mutual fund accounting.
What is the meaning of fund accounting with reference to Mutual Funds?
It is the process of reviewing the net financial assets of a mutual fund company.
How many AMC in India?
As of may 2009 there are 38 asset management companies operating in india: 1 AIG Global Investment Group Mutual Fund 2 Baroda Pioneer Mutual Fund 3 Benchmark Mutual Fund 4 Bharti AXA Mutual Fund 5 Birla Sun Life Mutual Fund 6 Canara Robeco Mutual Fund 7 DBS Chola Mutual Fund 8 Deutsche Mutual Fund 9 DSP BlackRock Mutual Fund 10 Edelweiss Mutual Fund 11 Escorts Mutual Fund 12 Fidelity Mutual Fund 13 Fortis Mutual Fund 14 Franklin Templeton Mutual Fund 15 Goldman Sachs Mutual Fund 16 HDFC Mutual Fund 17 HSBC Mutual Fund 18 ICICI Prudential Mutual Fund 19 IDFC Mutual Fund 20 ING Mutual Fund 21 JM Financial Mutual Fund 22 JPMorgan Mutual Fund 23 Kotak Mahindra Mutual Fund 24 LIC Mutual Fund 25 Mirae Asset Mutual Fund 26 Morgan Stanley Mutual Fund 27 PRINCIPAL Mutual Fund 28 Quantum Mutual Fund 29 Reliance Mutual Fund 30 Religare AEGON Mutual Fund 31 Religare Mutual Fund 32 Sahara Mutual Fund 33 SBI Mutual Fund 34 Shinsei Mutual Fund 35 Sundaram BNP Paribas Mutual Fund 36 Tata Mutual Fund 37 Taurus Mutual Fund 38 UTI Mutual Fund
Is a mutual fund a corporation?
A mutual fund is a corporation
How do you write a letter to redeem your mutual fund?
To, The Manager ______________ From, ____________ ____________ ____________ Sir, Sub: Reg. Redemption of Mutual fund investment with folio number _________________ I would like to redeem my mutual fund investment with the fund _________________________________ with folio number _________________ as on today ________________ Kindly process the redemption request and credit the money into my bank account whose details are below: Bank Name: ________________ Acc Num: _________________ Branch: _________________ Thank you, __________________
Stakeholder of mutual fund?
A stakeholder of a mutual fund is someone who has interest in it.
What is mutual fund in Hindi language?
mutual fund kya hai
A is invested by managers in a diversity of stocks bonds and other securities?
it is D. mutual fund :) Jenna what skul do you go to Jenna -cierra
When you own a mutual fund what exactly do you own?
Mutual fund is a low risk investment. If you invest in a mutual fund, you owns shares of the mutual fund company who is selling you fund. But you do not actually own any underlying asset of the stocks or securities that mutual fund has invested in even they are using your money to invest.
What is mutual fund reconciliation?
Mutual fund reconciliation is a term used to describe people who are in charge of reconciling fund accounts. They handle a lot of the mutual fund operations.
Was the Reserve Fund the first money market mutual fund?
The Reserve Fund was the first money market mutual fund
How do you write a letter to withdraw your mutual fund shares?
To, The Manager ______________ From, ____________ ____________ ____________ Sir, Sub: Reg. Redemption of Mutual fund investment with folio number _________________ I would like to redeem my mutual fund investment with the fund _________________________________ with folio number _________________ as on today ________________ Kindly process the redemption request and credit the money into my bank account whose details are below: Bank Name: ________________ Acc Num: _________________ Branch: _________________ Thank you, __________________
