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exchange privilege |
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Exchange Privilege The opportunity given to a mutual-fund shareholder to exchange a fund for another within the same fund family at no additional cost. Notes: This privilege allows investors to switch funds when market conditions change. For example, you might want to be in an aggressive growth fund when the market is going up, but when the markets start heading downward, you may switch to a bond fund.There is usually a limit as to how many times per year you can switch to other funds within a family. Exchange privilege A mutual fund shareholder's right to switch from one fund to another within one fund family, usually at no additional charge.
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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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