For "Fund Tokenization", I understood the workflow as:
- PM issues fund shares
- Investor(s) invest
- AM pool investment requests
- PM 'fulfill' pooled investment requests
I think the industry tends to refer to:
- PM as the trading desk in charge of managing the trading strategy of a given fund
- AM the legal entity for which the PM team works
- Transfer Agent (TA) the legal entity that receives the subscription / redemption orders
So I would suggest to "replace all":
- PM => AM
- AM => Transfer Agent
@GeorgSchneider @FrankPreiwuss-da @LeventeBarczyDA