System and method for continuously offered guaranteed mutual fund with allocation to risky market investments
First Claim
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1. A system operative to guarantee on a daily basis a minimum return by an open-ended fund on a maturity date, the fund comprising assets having an allocation on a commencement date of the guarantee and which correlate to a benchmark, comprising:
- a valuation engine comprising a processor configured by code to;
quantify an aggregate net asset value (ANAV) of the assets of the fund as of a current date after the commencement date;
re-price a notional amount of at least one guarantee contract in view of changes in the ANAV relative to the ANAV on a prior date, wherein each said guarantee contract is separate from and in addition to said assets of the fund;
price the fund at the close of the current date by adding each re-priced guarantee contract to the ANAV while the assets retain the allocation of the commencement date;
publish the price for use on the current date; and
a network connection configured to provide the published price to a client machine.
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Abstract
Software implemented guarantee valuation engine and methodology that enable a mutual fund that is continuously offered; always fully invested in assets, such as risky securities or strategies, that comprise a primary source of the fund'"'"'s return that correlate to a benchmark and which is subject to a guarantee with respect to net asset value on a specified future date to be re-priced on a daily basis and to have the effect of such re-pricing in the reported NAV of the fund.
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Citations
20 Claims
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1. A system operative to guarantee on a daily basis a minimum return by an open-ended fund on a maturity date, the fund comprising assets having an allocation on a commencement date of the guarantee and which correlate to a benchmark, comprising:
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a valuation engine comprising a processor configured by code to; quantify an aggregate net asset value (ANAV) of the assets of the fund as of a current date after the commencement date; re-price a notional amount of at least one guarantee contract in view of changes in the ANAV relative to the ANAV on a prior date, wherein each said guarantee contract is separate from and in addition to said assets of the fund; price the fund at the close of the current date by adding each re-priced guarantee contract to the ANAV while the assets retain the allocation of the commencement date; publish the price for use on the current date; and a network connection configured to provide the published price to a client machine. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification