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Reclassification |
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Reclassification The process of changing the class of mutual funds once certain requirements have been met. These requirements are generally placed on load mutual funds. Reclassification is not considered to be a taxable event. Notes: Sometimes mutual fund companies will decide to issue more than one series of similar mutual funds. Each series has different features and durations, and when the restrictions expire, they become reclassified to the fund with no restrictions.
Suppose the a company issues 2 mutual funds. Fund A is a no load fund, while fund B is a 5 year back-end load fund. After 5 years, when there is no longer a load structure, fund B will then be reclassified to fund A. 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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