Guggenheim Updates Fund Policies for Ameriprise Financial Accounts

New adjustments streamline charges and waivers for select shareholders, enhancing investment flexibility.

November 06, 2024

Enhanced Flexibility in Sales Charge Policies

Guggenheim Funds Trust has implemented significant updates to its policies regarding fund transactions through Ameriprise Financial accounts. These changes, effective immediately, focus on streamlining how Class A shares are purchased and redeemed. Shareholders can expect revised provisions for sales charge reductions and waivers, aiming to provide enhanced accessibility for eligible accounts.

The adjustments refine key discount mechanisms such as rights of accumulation and the letter of intent. These provisions allow shareholders to consolidate eligible investments or make purchase commitments to qualify for reduced front-end sales charges. Additionally, qualified accounts, including certain retirement and educational savings plans, now have broader exemptions. Employees and financial advisors affiliated with Ameriprise, along with their immediate family members, also benefit from expanded privileges in purchasing shares.

Streamlined Redemptions and New Waiver Policies

The fund manager also introduced updates to contingent deferred sales charge (CDSC) waivers. These updates cover specific redemption scenarios, including shareholder death or disability, systematic withdrawal plans, and required minimum distributions for retirement accounts. The revisions aim to simplify transactions while adhering to regulatory requirements.

Implications for Shareholders

For investors utilizing Ameriprise Financial platforms, these updates mark a shift towards greater convenience and reduced transaction costs. The new provisions encourage long-term investments by rewarding consistency through accumulation rights and reinvestment options. Additionally, policies supporting the repurchase of recently redeemed shares within the same fund family demonstrate a commitment to flexibility for dynamic financial planning needs.

Guggenheim Funds Trust advises shareholders to refer to the updated Appendix A of their prospectuses for detailed information on these changes. By tailoring its policies to address the needs of diverse account types, the company reinforces its focus on customer satisfaction and adaptability in an evolving financial landscape.