trading fund

trading fund

A UK government department, or an accountable unit within a government department, created under the Government Trading Funds Act 1973 and the Government Trading Act 1990, which enable the responsible Minister to set up as a trading fund a body which performs a statutory and monopoly service whose fees are fixed by statute.

Trading funds provide a financing framework within which outgoings can be met without detailed cash flows passing through vote-accounting arrangements, which means there is little to no public scrutiny of the bodies created through trading funds.
References in periodicals archive ?
1838 Bond-Debenture Trading Fund (NYSE:BDF) (the "Fund") is extending its previously announced Rights Offering as provided for in the Fund's prospectus.
1838 Bond-Debenture Trading Fund is a closed-end, diversified management investment company with approximately $78 million in total assets whose primary investment objective is to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities.
1838 Bond-Debenture Trading Fund (NYSE:BDF) (the "Fund") announced initial terms of its Rights Offering that was originally announced on September 2, 2003.
NASDAQ: LNOPF), a manufacturer of Fast Ethernet and Gigabit Ethernet Switches and Internet applications, announced today that ComSor Trading Fund, an affiliate of Comverse Technology, Inc.
ComSor Trading Fund, founded in 1997, is owned equally by Quantum Industrial Partners LDC, a subsidiary of Quantum Industrial Holdings Ltd.
1838 acts as investment advisor to 1838 Investment Advisors Funds and 1838 Bond Debenture Trading Fund.