People or institutions who may invest in the Fund without paying sales charges are:
- Non Profit or Charitable Organizations (as defined in Section 501 (c) (3) of the Internal Revenue Code) investing $25,000 or more.
- Clients of an Investment Advisor in the U.S. if the client is charged an ongoing fee by the investment advisor for advisory services.
- Brokers who are purchasing for their own account who will not transfer their shares.
- Officers and employees of the Fund and manager and their families.
Persons using the above privileges are obliged to note the facts on their order form. Calling the fund office in advance can help prevent errors.
Transfer of Shares
You may, without charge, transfer shares to co-owners, children, parents, siblings, spouse, family trusts, grandchildren, grandparents and estates. Other transfers are not authorized. You can always redeem shares (sell shares back to the Fund) for their then current value.
Reductions or Modifications in Sales Charges
1. SUBSEQUENT ADDITIONAL PURCHASES: If you add to your holdings and pass the threshold into larger category, the sales charge for the additional purchases will be at the reduced rate of the newly obtained category. The sales charge on each additional purchase is determined by adding the current market value of the shares you currently own to the amount being invested. The reduced sales charge is applicable only to current purchases.
2. PURCHASES MADE BY FAMILIES: Investors may combine family purchases into a single transaction to qualify for a reduced sales charge, however each family member must meet the minimum investment. This includes purchases by: spouses, children, parents, siblings, grandparents and family trusts.
It is each investor’s responsibility to notify the transfer agent at the time of purchase of eligibility for such reduced sales charge. Attach a note to your order or call before making the order to assure your reduced arrangement.