Collective Investment Funds

Other Commingled Funds

A bank may serve as an administrator, investment adviser, or investment manager of a pooled income fund. These are funds maintained by a third-party organization, such as a church or an educational institution. These pooled funds customarily pool charitable gifts from individual donors. Pooled funds are not CIFs and may not be operated by a bank as a CIF. Pooled funds are not governed by OCC Regulation 9.18, but instead must fall within specific exemptions provided under the federal tax and securities laws.

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