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Buying,
Selling, and Exchanging Shares
[View or download the Shareholder
Manual for complete information on the services available to
help you get the most from your investment. This manual includes
information about the basics of mutual funds, what you need to know
to buy, sell or exchange shares and how to monitor your investment.
It also offers information on opening an IRA or similar retirement
account.]
How do I open an
account?
View the summary information for each fund on
its fact sheet. Then view or download the fund prospectus which you
should read carefully to determine if the fund is suitable for you.
After you have done this, download and complete the application
form, and mail it with your check or investment instructions to the
address on the form.
If you prefer, you may obtain an investor’s kit including a
prospectus and application by calling Wright Investors’ Service
Distributors, Inc. (WISDI) at (800) 888-9471 or completing the e-mail
request form. Your purchase order cannot be processed until your
application is received by the funds or the funds' transfer agent.
When filling out the application you may sign up for special
investor services such as automatic investing, check writing, and
Internet access. These are described below and in the Shareholder
Manual. You may not use this application to open an
Individual Retirement Account. Please see the Shareholder Manual for
instructions on opening an IRA.
Different types of
fund ownership
- Individual ownership: This is the
most common form of ownership. You must be at least 18 years old.
- Joint ownership:
Two or more
individuals may have equal ownership of an account. There are
several forms of joint ownership. Joint tenants with right of
survivorship (JT/ROS) is the most common. In the event of death of
one owner, the survivor becomes the owner of the account. It does
not pass into the estate of the deceased owner. This form of
ownership is preferred by many married couples. Joint tenants in
common (TIC) is another form of joint ownership. With this form,
ownership at the death of one co-owner is part of the deceased
owner’s estate and does not pass to the surviving co-owner.
- Custodial account:
You may open an
account for a minor under the Universal Gift to Minor’s Act (UGMA)
for your state. You may contribute to this account without having
to name a legal guardian or establish a trust. Show the name of
both the custodian and the minor. Use the minor’s social security
number.
- Business/trust ownership:
Corporations and trusts may own investment accounts to invest
their savings or their employee retirement plans. Corporations
must furnish "corporate resolutions" authorizing the establishment
of the account (Blank resolution forms are available from WISDI.)
Trusts may need to furnish a copy of the trust document.
How do I buy additional shares?
By mail, telephone, wire,
automatic investment program or over the Internet. See the Shareholder
Manual for more information.
How do I exchange shares?
Wright offers different mutual funds for different financial
objectives. When your objective changes you can exchange your shares
of one fund for shares of the same class of another fund. Any shares
of any fund can be exchanged for money market shares, but an
exchange of money market shares for another fund is considered a
purchase. Choosing the fund that is right for you depends on your
time horizon, goals, and risk tolerance.
The exchange of shares results in the sale of one fund's shares
and the purchase of another. As a result, an exchange could result
in a gain or loss and become a taxable event for you.
Market Timers
The funds believe that use of the exchange privilege by investors
utilizing market-timing strategies adversely affects other fund
shareholders. Therefore, the funds generally will not honor requests
for exchanges by shareholders who identify themselves or are
identified as "market timers." Market timers are
identified as those investors who repeatedly make exchanges within a
short period. The funds do not automatically redeem shares that are
the subject of a rejected exchange request.
Was my order processed properly?
- The transaction confirmation
Assume you exchanged $5,000 from the Wright Selected Blue Chip
Equities Fund into another Wright fund. You want to know if the
transaction took place and the right amount was moved into the
correct fund. You will be able to verify your transaction by
reviewing your confirmation. You will receive this confirmation
within a few days of your transaction. Call the fund immediately if
there are any discrepancies. The confirmation is illustrated and
explained in the Shareholder Manual.
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