Q.1What is meant by pooled accounts?

Question

Accepted Answer

Pooled accounts refer to accounts where funds from multiple individuals or entities are combined into a single account.

Pooled accounts are commonly used by investment funds, such as mutual funds or hedge funds, to pool together the investments of multiple investors.
These accounts allow for diversification of investments and can be managed by a fund manager.
The funds in a pooled account are typically invested in various assets, such as stocks, bonds, or other securities.
Profits or losses from the investments are distributed among the account holders based on their proportionate share in the account.
Pooled accounts are subject to regulatory requirements and may require thorough AML KYC due diligence to ensure compliance with anti-money laundering regulations.

Accepted Answer

A pooled account is a fiduciary account having investments from multiple individuals which is pooled together.

Top AXA Business Services Senior AML KYC Analyst interview questions & answers