Systematic Mutual Fund Program Clause Samples
The Systematic Mutual Fund Program clause establishes a structured arrangement for making regular, automated investments into mutual funds. Typically, this clause outlines the frequency, amount, and method by which funds are transferred from an investor’s account to purchase mutual fund units, such as through monthly deductions or payroll contributions. Its core practical function is to facilitate disciplined, consistent investing, helping investors build their portfolios over time while reducing the impact of market volatility through dollar-cost averaging.
Systematic Mutual Fund Program. If I participate in the Systematic Mutual Fund Program, ▇▇▇▇▇▇ ▇▇▇▇▇ will periodically purchase, sell or exchange shares of my existing eligible mutual funds held in my Account. As described in the applicable prospectus, purchases will be made at the public offering price and sales or exchanges executed at the net asset value. These transactions will be executed automatically on
Systematic Mutual Fund Program. With this feature, I may direct ▇▇▇▇▇▇ ▇▇▇▇▇ to periodically purchase shares of eligible mutual funds or to sell shares of an eligible mutual fund held in my account. Purchases under this program will be made at the public offering price calculated as described in the applicable prospectus, and sales will be executed at the net asset value as described in the applicable prospectus. I may also direct ▇▇▇▇▇▇ ▇▇▇▇▇ to periodically exchange shares of an eligible mutual fund for shares of a different eligible and affiliated mutual fund. The price of the shares of both mutual funds in such an exchange will be the net asset value of each fund, as described in the applicable prospectuses. These transactions will be executed automatically on a monthly, quarterly, semiannual or annual basis, as I may choose. I may specify either a dollar amount or share amount for such transactions. Funds to pay for purchases under this program must be in my account on the day designated by me as the trade date. If a designated trade date falls on a weekend or holiday, the transaction will be effected on the preceding business day. If sufficient funds are not in my account on the trade date, ▇▇▇▇▇▇ ▇▇▇▇▇ will monitor my account for five business days and will execute the transaction if funds become available in my account during this five business day period. Minimum purchase amounts may be required as provided in the applicable prospectus.