What is a free exchange?

The process of Free Exchange is typically straightforward and can be initiated by the investor through their financial advisor or directly with the fund manager. The fund manager will then handle the necessary paperwork and ensure that the transfer is completed smoothly.

Free Exchange is a unique feature that allows investors to seamlessly transfer their holdings from one sub-fund to another within a fund structure. This process involves exchanging shares of one sub-fund for either a transfer share or an external share of another sub-fund, offering flexibility and convenience to investors.

The mechanism behind Free Exchange is designed to facilitate the efficient movement of assets within a fund family. It eliminates the need for investors to sell their existing shares and reinvest in a different sub-fund, saving time and potentially reducing transaction costs.

One of the key benefits of Free Exchange is that it allows investors to maintain their investment exposure while adjusting their portfolio allocation. For example, if an investor believes that a particular sector or asset class will outperform, they can easily transfer their shares from one sub-fund to another that focuses on that area.

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