For example, you might want to be in an aggressive growth fund when the market is going up, but when the markets start heading downward, you may switch to a bond fund.
There is usually a limit to how many times an investor can switch funds within a year.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
exchange privilege — A mutual fund shareholder s right to switch from one fund to another within one fund family, usually at no additional charge. Bloomberg Financial Dictionary … Financial and business terms
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