Investment company that issues a class of conventional shares and a class of exchange-traded shares in the same fund
AssigneeThe Vanguard Group, Inc.
InventorsGeorge U. SAUTER, Walter LENHARD
Life of this patent
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Abstract
An automated method is provided for administering a single investment company that issues one or more classes of shares that are bought from and redeemed with the single investment company at a net asset value and issues one or more classes of shares that are listed for trading on a securities exchange and that are bought and sold at negotiated market prices. One or more computers maintain account data of the outstanding shares. An owner of any share of any share class has an undivided interest in the single investment company.
Claims13
(canceled)
A computer-implemented method of administering a single investment company, the method comprising:
- (a) the single investment company issuing, using a first processor, one or more classes of shares that are bought from and redeemed with the single investment company at a net asset value;
- (b) the single investment company issuing, using a second processor, one or more classes of shares that are listed for trading on a securities exchange and that are bought and sold at negotiated market prices;
- and
- (c) maintaining in one or more computers, account data of the outstanding net asset value shares, wherein an owner of any share of any share class has an undivided interest in the single investment company.
Dependencies are inferred from the claim text.