10. Ability to combine many smaller accounts together for consolidated
investment management
9. Most accurate way to allow inter-period participant entry and exit
to portfolio
8. Superior to master trust accounting as percentages are used, which make
intra-period transactions difficult or inaccurate
7. Superior to master custody accounting, where trades are still held in each
subaccount
6. With multiple portfolios by investment style, ability to provide broad asset
allocation to participants regardless of dollar amount
5. Allocation of cost to administer on a pro rata basis among participants
through unit value (NAV) calculation process
4. Most stringent GAAP accounting standards, using 40 Act mutual fund
methodology
3. Reporting that accurately breaks down performance
2. Even though investment management consolidated, participants still receive
the most accurate record of cost basis, realized and unrealized gains, and
investment income
1. Tastes great, less filling!