Many financial planners, and those helping administer retirement plans for clients and companies, may want to take a refresher course on the differences between 'commingled pools' and 'mutual' funds.
Mutual funds, of course, are very popular staples of 401(k) plans and other savings instruments, and although these funds and commingled pools are both run by investment managers, funds that are 'commingled' are not open to individual investors are not regulated by the Securites and Exchange Commission.
Most commingled pools are run by banks and trusts, and do not have the disclosure requirements more commonly associated with mutual funds. For this reason, they are becoming popular with investors because there is less pressure to make daily reports.
In addition, funds in commingled pools may cost less than the same stocks accumulated in mutual funds. This can be seen in the net investment return.