Exchange fund (also known as Swap fund) - Investment vehicle introduced in 1999 which appeals to wealthy investors with large holdings in a single stock who want to diversify without paying capital gains taxes. These funds allow investors to exchange their stock for shares in the diversified portfolio of stocks in a tax-free transaction
Exchange fund (also known as Swap fund) : investment vehicle introduced in 1999 which appeals to wealthy investors with large holdings in a single stock who want to diversify without paying capital gains taxes. these funds allow investors to exchange their stock for shares in the diversified portfolio of stocks in a tax-free transaction