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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 of a shareholder in a mutual fund to sell his/her shares and buy shares in another mutual fund within the same fund family, generally with no additional load (or sales fee). Different mutual funds within a fund family have different investment goals and/or strategies. However, because the same company manages the whole group, individual investors may generally exercise the exchange privilege to move money from one fund to another without extra commissions or fees, or with only a nominal charge. The exchange privilege allows investors to be flexible in their own investment goals according to their particular needs at a given time. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A similar exchange privilege will be allowed with annuity contracts, which also produce ordinary income when cashed in. With Good Guys Extended Exchange Privilege, consumers can shop early for gifts that are guaranteed to please. 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. |
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