Define: Free Exchange
Free Exchange means exchanging a share of one fund for another, waiving redemption fees, treating the new share as a continuation of the original investment.
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Free Exchange means exchanging a share of one fund for another, waiving redemption fees, treating the new share as a continuation of the original investment.
Relevant Circumstances
- When investors can switch between fund shares without redemption fees
- If the new share is treated as a continuation of the original holding for tax
- Where exchange offers form part of a fund's standard service terms