Financial Markets Book Financial Markets For The Rest Of Us
An Easy Guide To Money, Bonds, Futures, Stocks, Options, And Mutual Funds
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by Robert Hashemian

Page 377

Sample Vanguard Asset Allocation Fund Quote (VAAPX)

Net Asset Value: 23.50 Day Change: -0.19 (-0.80%)
Yield (Year To Date): 2.98% Prev. Close: 23.69
52 Wk High: 25.73 (4/12/1999) 52 Wk. Low 23.19 (1/5/2000)

Buying shares directly from a fund is as simple as filling out an application form and sending in a check to the fund company that runs the fund. The fund company will open up a new account in your name and deposits the shares of your specified fund(s) into your account with the money that you have sent in. Buying mutual funds from your broker (if offered) is a similar process. Here are what you would normally specify to your broker:

Fund's Symbol - This is the symbol the fund is traded under. For example, the Vanguard Asset Allocation fund has the symbol VAAPX.

Type Of Transaction - This could be one of the following:
  • Buy- You want to buy shares of the fund.
  • Sell - You want to sell shares of the fund that you already own. No shorting here.
  • Exchange - You want to transfer your holdings in one fund into another fund within the same family (i.e., issued by the same investment company). Many fund companies allow you to exchange your holdings in one fund for another in the same family for little or no transaction fee. If, however, you are moving from one fund family into another (e.g., from Fidelity to Vanguard), your only option is to sell your shares and buy

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Copyright and Disclaimer
Book Chapters
Table of Contents Copyright and Disclaimer Foreword Money
Bonds Futures Stocks Options
Mutual Funds Retirement Final Words Appendix A

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