Shareholders of open-end mutual funds
buy shares at net asset value (NAV), which is the market value of a fund share.
If the conversion is approved by shareholders and consummated, shareholders of FTT would become shareholders of the new open-end mutual fund
and would be permitted to redeem their shares of the new open-end mutual fund
at net asset value, subject to a one percent redemption fee for the first six months after the consummation of the conversion.
The recommended conversion is planned to be a reorganization of the fund into an open-end mutual fund
newly created for that purpose.
open-end mutual funds
, partially offset by $56 million
Founded in 1989, the New York-based Registered Investment Advisor provides asset management services to individual and institutional clients, including Separate Accounts and the Austin Global Equity Fund, a global, open-end mutual fund
with a Morningstar 4-Star rating.
The Fund will convert from a closed-end investment company to an open-end mutual fund
on or about May 1, 1999.
Cheswold Lane Asset Management, LLC is pleased to announce the launch of the Cheswold Lane International High Dividend Fund (CLIDX), an open-end mutual fund
, intended for small to mid-sized institutions and high-net-worth individuals.
Boatman, "This is one of a very few opportunities to invest in the high yield muni market in an open-end mutual fund
27 /PRNewswire/ -- Liberty ALL-STAR Equity Fund (NYSE: USA) announced today that, in accordance with the commitment made when the fund was organized in 1986, shareholders will be given the opportunity to vote on whether to convert the fund to an open-end mutual fund
at their 1993 annual meeting, to be held in Boston on April 6.
Government Fund (KARGF), an open-end mutual fund
that will invest primarily in U.
Lipper defines ''Indexed Fund'' as an open-end mutual fund
which is pure index, enhanced index or index-based but is not an Exchange Traded Fund (ETF).
The proposed statement would establish fair value standards for investments in interest-earning investment contracts, external investment pools and open-end mutual funds
, as well as debt and equity securities, option contracts, stock warrants and stock rights for which fair value is readily determined.