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exchange privilege

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Exchange privilege
A mutual fund shareholder's right to switch from one fund to another within one fund family, usually at no additional charge.
exchange privilege
The right to exchange shares in one mutual fund for shares in another fund managed by the same firm. The rate at which shares are exchanged is determined by differences in relative values. There is usually a nominal charge for each transfer. This privilege is designed to allow investors to move their money among funds without incurring additional sales fees as their investment goals change. Also called conversion privilege.


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A similar exchange privilege will be allowed with annuity contracts, which also produce ordinary income when cashed in.
Taxing Matters by Andrew R. Biebl by Top Producer
With Good Guys Extended Exchange Privilege, consumers can shop early for gifts that are guaranteed to please.
Good Guys Unveils Top 10 Holiday Electronics Gifts; Advances in ... by Business Wire
Our funds have strict policies, set forth in their prospectuses, providing that the exchange privilege may not be used for market timing (defined as two round-trip exchanges -- an exchange from one fund to another and back again -- in any 12 month period) and that the exchange privilege may be terminated for shareholders that engage in market timing.
Eaton Vance Corp. Statement by Business Wire
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