MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Grandeur Peak allowing investors to convert their investor class shares to institutional class share

TheShadowTheShadow
edited September 2016 in Fund Discussions
Just received a prospectus and cover letter indicating some changes in today's mail.


Here is the 8/31/16 prospectus with the information.

https://www.sec.gov/Archives/edgar/data/915802/000139834416017646/fp0021161_485bpos.htm

Here is an excerpt from one of the funds:

"...The Fund offers two classes of shares, Investor Class and Institutional Class shares. The minimum initial investment for both share classes is $2,000 for each account, or $1,000 if an Automatic Investment Program is established; except that the minimum to open an UGMA/UTMA or a Coverdell Education Savings Account is $100. There is no subsequent minimum investment amount for either share class."


The cover letter also states for those investors that do not hold their shares directly with Grandeur Peak:

"...Please note that some distribution channels may retain their own $100,000 minimum on the institutional share class, and some platforms may charge a transaction fee for this share class."

Existing Grandeur Peak shareholders that have their investments directly with Grandeur Peak only need to contact Grandeur Peak to facilitate the conversion.

Comments

  • joe74
    edited September 2016
    When I called to convert my shares the account service folks were unaware. When I told them we received email notification of the new minimum, they quickly verified and executed the conversion.
    Had similar experience with Seafarer...
  • PRESSmUPPRESSmUP
    Shadow...your sec.gov link re-directs to a Seafarer communication, not GP.

    Thanks for the heads up though on GP.
  • TheShadowTheShadow
    edited September 2016
    @PressmUP

    The prospectus link covers Seafarer, GP, Emerald, Aspen Partners and other mutual funds. The prospectus is all-encompassing of the funds issued by Financial Investors Trust. GP is down the page.
  • PRESSmUPPRESSmUP
    Thanks...you're right, very odd. There's even a Vulcan Small Cap item I hadn't seen before.

    Need to find out why I'm missing things like that.
  • expatsp
    Anyone know if Schwab permits this conversion if you're below the 100K minimum?
  • MrRufflesMrRuffles
    expatsp said:

    Anyone know if Schwab permits this conversion if you're below the 100K minimum?

    Schwab told me they don't do conversions for 3rd party funds when I called about converting my Seafarer

  • JoJo26
    I'm assuming most don't.
Sign In or Register to comment.