exchange privilege

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.

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.
References in periodicals archive ?
Other BRite financing benefits include, but are not limited to, vehicle exchange privilege.
As an active trader and technical analysis convert, I believe that there is nothing more powerful than the income tax-free and commission-free daily exchange privilege in the VA platform.
In addition to SIGMA from the ARCH model and SHOCK from the Kalman filter autoregressive forecasting model, other independent variables include the Treasury Bill rate adjusted for the exchange privilege (TBILL), the BAA rate, a one-period lag of the log of the capital/asset ratio ([CAP.
When purchasing a Certified Pre-Owned Mercedes-Benz from Aristocrat Motors through June 1, drivers will also receive ownership perks such as two years of pre-paid vehicle maintenance, an unlimited mileage Certified Pre-Owned Warranty, 24-hour roadside assistance, nationwide dealership support, vehicle exchange privilege and trip interruption coverage.
CARite's central lending partner, BRite Financial Services, offers a number of benefits with its loans, including job loss protection, vehicle exchange privilege, and trade-in value guarantee, which all add to the value of any used car purchase.
Those limited-time ownership benefits build upon the many perks already included with the purchase of Mercedes-Benz Certified Pre-Owned vehicle, such as roadside assistance, trip interruption coverage, nationwide dealership support and vehicle exchange privilege.
In addition to the one-year unlimited mileage Certified Pre-Owned warranty, which can be extended for two additional years, buyers will receive Vehicle Exchange Privilege.
While the aforementioned ownership benefits are designed to help consumers save money and preserve peace of mind after purchase, standard Certified Pre-Owned Mercedes-Benz perks include 24-hour roadside assistance, nationwide Mercedes-Benz dealership support, trip interruptions coverage and vehicle exchange privilege.
In addition to the warranty, Mercedes-Benz Certified Pre-Owned vehicle owners will receive 24-hour Roadside Assistance, Nationwide dealership support, Trip Interruption coverage and a seven-day/500-mile Exchange Privilege that gives buyers a week to return the vehicle to the dealership and exchange it with another Certified Pre-Owned Mercedes-Benz model.
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.
With Good Guys Extended Exchange Privilege, you can shop early for gifts that are guaranteed to please.
The exchange privilege will terminate immediately prior to the close of business on the Redemption Date.