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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.Yahoo Finance - Cite This Source - This Definition
- Browse Related Terms: American depositary receipt (ADR), Annuity unit, Block trade, Capital appreciation, Exchange-traded fund (ETF), expense ratio, Institutional fund, Mark to the market, Net asset value (NAV), Offshore fund, Open-end mutual fund, Proprietary fund, share, Standard & Poor's Depositary Receipt (SPDR), Underlying investment, Unit investment trust (UIT), Unit trust