Many funds impose their own rules and restrictions. Mutual fund shares are offered by prospectus only. The prospectus contains the fund's investment objectives, risks, charges and expenses. Additionally, the prospectus contains other valuable information you should carefully consider before making a purchase. Before investing in a mutual fund, be sure to carefully consider the fund's investing objectives, risks, charges and expenses. Please read the prospectus carefully before investing.
The following guidelines apply to mutual fund trading:
- A prospectus will be sent to you at your request, on execution of an initial purchase, annually, or when the prospectus is updated. Mutual fund information is subject to change at any time and without notice. Mutual fund companies update their information frequently. TIAA Brokerage cannot guarantee the accuracy of this information, but we will send you an updated prospectus if changes are made by the investment companies for the funds you hold in your account.
- Mutual funds are generally considered to be a longer term investment. Some funds may require a minimum holding period before allowing a redemption. Most mutual funds cannot be sold on or before the purchase settlement date.
- Some funds charge an early redemption fee if they are sold before a stated time period. Please refer to the prospectus to see if these conditions apply. All No Transaction Fee (NTF) funds held six months or less are subject to a short-term redemption fee of $50.00. This fee is in addition to any fees addressed in the fund's prospectus.
- Each mutual fund has minimum initial purchase requirements and may also have requirements for subsequent purchases. The required amount may vary if the account is an IRA. Fees may apply for purchases below minimums.
- Cut-off times for the purchase and redemption of mutual fund shares can vary from 2 p.m. to 4 p.m. ET, and are subject to change at any time. Orders placed after the cut-off time will be processed on the following business day.
- Settlement periods vary by fund and are subject to change without notice, typically between one to two days. The settlement process may affect whether you can reinvest the proceeds in another security.
- TIAA Brokerage allows you to choose whether to reinvest dividends and capital gains or receive as cash upon initial purchase. If you are utilizing an automatic investment plan, the instructions will apply to subsequent purchases. If you exchange the mutual fund for another within the same fund company, the initial instructions will carry over to the new fund. You may change these instructions online.
- To make regular purchases or redemptions from your mutual fund(s) you can establish recurring mutual fund purchase/redemption plans. You may also set up recurring electronic funds transfers (ACH) to fund a recurring purchase.