The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Oct. 28, 2008
Filed:
May. 31, 2005
Todd J Broms, New York, NY (US);
Gary L. Gastineau, Short Hills, NJ (US);
Todd J Broms, New York, NY (US);
Gary L. Gastineau, Short Hills, NJ (US);
Managed ETFs LLC, Summit, NJ (US);
Abstract
Systems and methods are disclosed for managing and trading an investment fund having a portfolio including any combination of financial instruments and cash and having a general class of fund shares tradable in a secondary market. In the disclosed processes, assets enter and are removed from the investment fund through an exchange-traded fund share creation and redemption process governed by a set of rules. An intra-day fund share net asset value proxy based on a fund portfolio is distributed through electronic quotation vendors during the trading day at a specified interval. Notices of intention to create or redeem shares of the redeemable share class received by a specified time result in implementing the creation or redemption of shares at a net asset value determined after the notices are received. These features protect ongoing investors in the fund from costs of fund share trading by entering and leaving shareholders.