What happens if the number of shares an investor holds in a specific fund increase above the level at the close of business on September 19, 2008?
The program provides a guarantee based on the number of shares held in a specific fund at the close of business on September 19, 2008. Any increase in the number of shares held in a specific fund after the close of business on September 19, 2008 will not be guaranteed. Examples Include: 1) If an investor owned 100 shares in a specific money market fund as of close of business September 19, 2008, but owns 150 shares in the same fund on the day a Guarantee Event occurs, then that investor will be guaranteed only for 100 shares. The fund, upon liquidation, will distribute proceeds from the assets to the extent available to the shareholder for the additional 50 shares, at net asset value. 2) If an investor owned no shares in a specific fund as of close of business September 19, 2008, but owns 100 shares in a fund on the day a Guarantee Event occurs, none of the investor’s shares are guaranteed by the program and the investor will receive the net asset value directly from the fund.
Related Questions
- How much of my money market fund is insured? What happens if the number of shares held in my account increases or decreases after the close of business on September 19, 2008?
- What happens if the number of shares an investor holds in a specific fund decreases below the level held at the close of business on September 19, 2008?
- What happens if the number of shares an investor holds in a specific fund increase above the level at the close of business on September 19, 2008?
