exchange privilege

(redirected from Exchange Privileges)

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 ?
com) located in New Ulm, TX, is a resort community which features an award-winning golf course - rated 4 u stars by Golf Digest, a prime residential community, a vacation ownership resort with world-wide exchange privileges, fine dining at its Cascades Restaurant, a hotel and conference facility, and other amenities.
Free resort exchange privileges to use the facilities at other Palace Resorts
Exchange privileges are authorized for active-duty military members, military retirees, Reservists, National Guard members, Department of Defense civilians working overseas, exchange employees and their family members.
In addition to having exchange privileges with other Auberge properties, select vacation home owners at Auberge's fabled resorts will have access to Elite Alliance's expanding portfolio of coveted exchange destinations.
First-class residential living and vacation opportunities at Porto Hussong will include 450 private oceanfront residential condominiums from the high $600,000s to $3 million; a 60-suite upscale boutique hotel with lavish interiors; and membership in "The Meridian Club" Private Residence Club: offering fractional ownership of opulent Penthouse and top floor vacation homes from 4,500 to 7,400 square feet, access to a 74' Viking yacht and exchange privileges at the world's elite private residence clubs for $230,000 to $300,000 for five weeks of use per year.
In advance of their joint venture, the carriers are moving forward to implement codesharing, frequent flyer program reciprocity and lounge exchange privileges.
The Meridian Club" penthouse and top-floor fractional units range from 4,500 to 7,400 square feet and offer three and four bedroom configurations with extravagant amenities: imported Italian Ponto front and terrace sliding doors, luxurious European "Becker" kitchens, parking for two oversize cars, private club facilities, 24-hour security and concierge services, access to a private 74' Viking yacht and global exchange privileges through the Registry Collection (www.
A combination video game and movie online offering -- with in-store exchange privileges -- is a tremendous value and convenience offering not available through anyone other than Blockbuster.
Following the reorganization, Vestaur Securities Fund shareholders will have the ability to redeem any shares of Evergreen Diversified Bond Fund that they may receive in connection with the reorganization at net asset value, in addition to improved investment flexibility and increased investment choice through exchange privileges in Evergreen's family of open-end mutual funds.
Lucia, exchange privileges, taxes, tips & gratuities all included, Sandals offers more for couples in love than they could ever dream.
Guests staying at Cozumel Palace will have exchange privileges to visit other Palace Resorts properties in the Riviera Maya and Cancun.