The ban on the fund-of-funds concept has been lifted.
The Securities and Exchange Commission's solution, in a report to Congress in May 1967, was a proposal to prohibit the fund-of-funds concept entirely and to bar any fund, offshore or not, from investing in other American funds.
Again, the assigned risk fund concept can be used.
The Perpetuity Fund concept could be part of the answer.
The paper discusses the origins of the trust fund concept, its development in the context of conservation, and its application to biodiversity prospecting.
"Vanguard's move is clearly a reaction and a validation of the exchange-traded fund concept," said Thomas L. Taggart, a Barclays Global Investors spokesman.
Institutional investors began to question that premise on Tuesday, after the Reserve Fund, the company whose founder invented the money fund concept in the early 1970s, announced that several of its funds had broken the buck.
The senior Mr. Bent, who helped invent the money fund concept, was described by the S.E.C. as "the public face" and "a longtime advocate of the safety and stability of money market funds".
We believe that, ultimately, the personal fund concept will thrive, and that in the near future you will have numerous opportunities to enjoy all of the advantages that personal fund investing offers".
Again, the language has not been tested in court, although we believe this concept is more likely to be susceptible to convincing factual proof than the vulture fund concept.
