The family-of-funds concept allows investors to exchange shares in one mutual fund for shares in another fund providing that the investor is willing to pay a 10 percent penalty of the value of the funds transferred.

Question

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The family-of-funds concept allows investors to exchange shares in one mutual fund for shares in another fund without penalty. There may be transaction fees or other costs, but no specific penalty for transferring between funds in the same family.

The Family-Of-Funds Concept Allows Investors to Exchange Shares in One