1. A computer-implemented method of managing one or more financial objects, the method being executed on a data processing system, the method comprising: managing a virtual portfolio of the financial objects by at least one computer wherein said virtual portfolio comprises a collection of the financial objects managed collectively but tracked separately with separately owned lots on behalf of a plurality of investors; providing a computer database associating by the at least one computer, a plurality of lots owned by each of said plurality of investors and associating by the at least one computer, said plurality of lots as tradable regardless of an initiator of the purchase of said plurality of lots; providing by the at least one computer, lot selection rules; receiving by the at least one computer, a requested trade; selecting by the at least one computer, a lot for trading from said plurality of lots using said computer database, said lot selection rules, and said requested trade; providing by the at least one computer, taxation rules; determining by the at least one computer, if a trade using said selected lot should be deferred using the computer database and said taxation rules; generating by the at least one computer, a deferred trade in a tax-managed sub-account if it is determined that said requested trade should be deferred; and selecting by the at least one computer, said deferred trade in said tax-managed sub-account for execution if it is determined that said deferred trade should no longer be deferred using said computer database and said taxation rules.