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Important Information Regarding Account Minimums and Low Account Balance Fees for Class A, B and C Shares
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For Class A, B and C shares, the minimum initial investment is $2,500 per Fund for all accounts. If you use the Automatic Investment Plan (AIP),
the minimum initial investment per Fund is $50; however, we reserve the right to deduct a $6 quarterly low account balance fee for all AIP accounts that
cease contributions before reaching $2,500. The Funds may refuse subsequent investments of less than $50 per Fund.
Investment minimums do not apply to purchases of Class A, B or C shares made through eligible retirement plans or similar group accounts or
through eligible fee-based and/or advisory programs, as more fully described in the Funds' prospectuses.
We reserve the right to waive any investment minimum if the Funds determine that doing so would be in the best interest of the Funds and their shareholders.
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What if a shareholder's individual fund balances are below the minimum?
For each account that you own, if your investment in Class A, B or C shares of a Fund does not meet the account minimum, or you cease AIP contributions
before reaching the account minimum, you may increase your balance to $2,500 (either by a single investment or through the AIP) or that Fund account may
be charged a quarterly servicing fee of $6.
Generally, only "direct" accounts will be charged this fee. Accounts held through brokers, financial intermediaries and other financial institutions that hold shares in street name
or omnibus positions or through registered securities clearing agents will not typically be subject to a low account balance fee.
We reserve the right, upon 30 days' advance written notice, to redeem your account (and forward the redemption proceeds to you) if its value is below $2,500.
You will have the option to increase the value of your account upon receipt of such notice. Any otherwise applicable contingent deferred sales charge (CDSC)
may be applied if we redeem your account.
In addition, we reserve the right, in our sole discretion, to waive the imposition of this fee.
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When will the low account balance fee be assessed?
If applicable, this quarterly fee will be assessed every June, September, December and March based on the net asset value of investments in each fund when the fee is assessed.
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How can I avoid the quarterly low account balance fee?
If your current fund balance does not meet the minimum, you can avoid the fee by:
- Increasing your balance to $2,500 in a lump sum investment.
- Setting up an Automatic Investment Plan (AIP) and maintaining a
minimum monthly investment of $50 until you reach $2,500. To
set up an AIP, complete the
Automatic Investment Plan Form. Please
call 1.800.438.5789, if you have any questions.
- Transferring shares held in a direct account to an account with a broker or financial intermediary that is exempt from this fee.
- Increasing fund balances by consolidating Munder Fund investments. In
other words, by transferring investments into fewer mutual funds, a
shareholder may be able to reach the minimum. Example: If a shareholder
has $2,000 in Fund A and $1,000 in Fund B, he or she can avoid the
servicing fee by exchanging Fund A shares for Fund B shares or vice versa.
Other than a 2% short-term trading fee on shares of certain Funds held
less than 30 days, there is no fee for exchanging shares of one fund for
the same class of shares of another fund.
To make an exchange, use our online
Account Access.
Please call 1.800.438.5789, if you have any questions.
To avoid this fee in any quarter, please be sure that the balance of each fund investment meets its applicable minimum by no later than the second-to-last Friday of the quarter.
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What distinguishes a "direct" account from other accounts that are exempt from this fee?
A direct account is any account held directly with the Munder Funds. All non-brokerage accounts, those for which no broker (other than Funds Distributor, LLC) was involved in the transaction, are considered direct accounts and will be subject to the quarterly servicing fee. Shares bought through a broker, but held directly at Munder, are also considered direct accounts and will be subject to the fee. If you receive a statement directly from the Munder Funds, you have a direct account.
Accounts held through a broker or other financial institution and recorded on the Funds' books in the name of the broker or financial institution, are not direct accounts. These accounts will not be subject to the quarterly servicing fee.
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How can I learn more about investment minimums?
For more detailed information, see the Investment Minimums section
of your
current Prospectus.
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What is the purpose of the quarterly low account balance fee?
A mutual fund has fixed costs associated with servicing each customer holding,
and small balance holdings challenge our ability to manage a Fund's expenses.
The fee is intended to benefit the majority of fund shareholders in the long term,
by enabling the Funds' transfer agent to collect these fees and therefore reduce
the fees it charges the Funds.
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A shareholder's original investment was above this minimum, however it is currently worth less than the minimum. Will this shareholder be charged the quarterly low account balance fee?
The purpose of this fee is to offset the disproportionate costs associated with servicing accounts with low balances regardless of the reason for the account size; therefore, any direct account that has fallen below the applicable minimum will be subject to the fee. However, we reserve the right to waive the fee in certain limited circumstances.
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An investor should consider the Fund's investment objectives, risks, and charges and expenses
carefully before sending money. The prospectus and summary prospectus contain this and other important information about the
investment company. To obtain a prospectus and summary prospectus,
please click here. Please read the prospectus and summary prospectuses carefully before investing.
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| Munder Funds distributed by Funds Distributor, LLC. |
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