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As always, RTFM - read the fine manual (prospectus). Here are a couple of samples from bond funds (equity funds will clearly be trading):
Vanguard Short Term Bond Index Fund (p. 43): "A fund also may use fair-value pricing on bond market holidays when the fund is open for business (such as Columbus Day and Veterans Day)."
Everybody's "favorite" bond fund (or punching bag, as the case may be) Pimco Total Return:
The Trust is "open for business" on each day the NYSE is open for trading, which excludes the following holidays: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. If the NYSE is closed due to weather or other extenuating circumstances on a day it would typically be open for business, the Trust reserves the right to treat such day as a Business Day and accept purchase and redemption orders and calculate a Fund's NAV, in accordance with applicable law. A Fund reserves the right to close if the primary trading markets of the Fund's portfolio instruments are closed and the Fund's management believes that there is not an adequate market to meet purchase, redemption or exchange requests.
That last part is interesting. Given the rate of redemptions from this fund, and the fact that the "primary trading markets of the Fund's portfolio instruments are closed", it sounds like Pimco might choose not to trade tomorrow. Seems that the prospectus leaves the choice up to the fund, and you'd have to call to know for sure.
Depending on the mutual fund company, if you have a substantial amount of money with them, call them when they open and they will execute the trade if you ask.
Comments
http://www.thestreet.com/stock-market-news/11771386/market-holidays-2014.html
You will be able to put in mutual fund orders but I'd guess pricing may not change for some bond funds.
Vanguard Short Term Bond Index Fund (p. 43): "A fund also may use fair-value pricing on bond market holidays when the fund is open for business (such as Columbus Day and Veterans Day)."
Everybody's "favorite" bond fund (or punching bag, as the case may be) Pimco Total Return: That last part is interesting. Given the rate of redemptions from this fund, and the fact that the "primary trading markets of the Fund's portfolio instruments are closed", it sounds like Pimco might choose not to trade tomorrow. Seems that the prospectus leaves the choice up to the fund, and you'd have to call to know for sure.