What is the Alliance Fair Fund?
The SEC set up the Alliance Fair Fund. The Fund will compensate eligible account holders for losses due to market timing. Alliance paid $250 million into the Fund. Additional amounts from other sources were later added. The Alliance Fair Fund now totals approximately $321 million. This total does not does not include any interest earned by the Fund’s assets, which also will be paid to eligible account holders. The SEC required Alliance to appoint an Independent Distribution Consultant, also called to the IDC. The IDC developed a plan to distribute the Alliance Fair Fund. This plan is called the Plan of Distribution. The SEC approved the IDC’s Plan in May 2008.
