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Important Information Regarding Account Minimums and Servicing Fees
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For Class A, Class B and Class C Shares of the Funds, the minimum initial investment per fund is $2,500 for all accounts except Individual Retirement Accounts (IRAs), Education Savings Accounts (ESAs), 403(b) accounts, Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA) accounts, where the minimum initial investment is $500. The minimum initial investment for participants in the Automatic Investment Plan (AIP) is $50; however, we reserve the right to deduct a $6 quarterly servicing fee for all AIP accounts that cease contributions before reaching the otherwise applicable minimum. Subsequent investments of less than $50 per fund may be refused.
Investment minimums do not apply to purchases made through certain eligible group accounts (such as retirement plans) or eligible wrap-fee programs (or similar programs) as more fully described in the Funds' Prospectuses.
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What if a shareholder's individual fund balances are below the minimums?
For each individual Class A, Class B or Class C Shares account fund balance below the minimum, an investor may be charged a quarterly servicing fee of $6, which includes the costs of any applicable contingent deferred sales charges (CDSC) on shares redeemed to pay the fee. To cover this fee, if applicable, shares in the account will automatically be redeemed at the end of each quarter.
Shareholders whose Class A, Class B or Class C Shares are held in direct accounts with the Munder Funds will generally be subject to the quarterly fee. Class A, Class B, and Class C Shareholders whose shares are held through brokers financial intermediaries that hold shares in street name, as part of an omnibus position or through registered securities clearing agents will not be assessed this fee.
For certain accounts below the applicable minimums, we have reserved the right to redeem these shares upon 30 days' advance written notice.
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When will the servicing 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 servicing fee?
If your current fund balance does not meet the minimum, you can avoid the fee by:
- Increasing your balance to meet the minimum in a lump sum investment.
- Setting up an Automatic Investment Plan (AIP) and maintaining a
minimum monthly investment of $50 until you reach the minimum. 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 Purchase Information section
of the Shareholder Guide contained in your
current Prospectus.
An investor should consider a Fund's investment objectives, risks, and charges
and expenses carefully before investing or sending money. This and other important
information about the investment company can be found in the Fund's prospectus.
To obtain a prospectus, please click here.
Please read the prospectus carefully before investing.
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What is the purpose of the quarterly servicing 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 servicing 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 investing or sending money. This and other important
information about the investment company can be found in the Fund's prospectus.
To obtain a prospectus, please click here.
Please read the prospectus carefully before investing.
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| 099-161 A-0208 |
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| Munder Funds distributed by Funds Distributor, LLC. |
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