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How Trades Are Priced
Viewing Your Transactions
If You’ve Been Disconnected
Redemption Proceeds—Where They Are Sent
The price at which your shares will be purchased or redeemed is determined by the time of day Managers Funds receives your online buy, exchange or sell request.
If a request is received before the market closes (the close of trading on the New York Stock Exchange (NYSE), usually 4:00 p.m. Eastern time), the trade price will be the Fund’s net asset value reported for that day. If a request is received after the market closes, the trade price will be the Fund’s net asset value reported for the next day the market is open.
For more information about this policy, please see the section entitled “How to Invest” located in the Prospectus.
When you buy, exchange, or sell Managers Fund shares using Online Account Access, you will not see an immediate change or adjustment to your account balance. This is because your transaction has yet to be processed by Managers' transfer agent, PNC Global Investment Services, Inc.. Here are two examples that illustrate how this processing works:
- If you sell your shares before the market closes, PNC Global Investment Services will process your transaction that night from 8:00 p.m. to 1:30 a.m. (or sometimes later) Eastern time. Your sale and the resulting change in your account balance will not show up on Managers' Web site until after the nightly run is complete.
- If you sell your shares after the market closes, at 6:30 p.m., for example, your transaction will not be processed until the evening of the next day the market is open. If you look up your account balance on the Web site the day after your transaction, you will not see a change in your balance, because the transaction has yet to be processed.
There are two reasons Online Account Access might disconnect you before or during an online session. Both are security precautions:
- After three successive failed login attempts, online access to your account will be denied. Please call Shareholder Services at 800.548.4539 between 8:00 a.m. and 8:00 p.m. Eastern time, Monday through Friday, to restore access.
- Similarly, if you are logged on to Online Account Access for 15 minutes without any activity, the system will disconnect you. You will then have to exit Online Account Access and start a new session in order to view your accounts and make transactions.
When you sell your Fund shares through Online Account Access, you may request to have the sale proceeds delivered to you in three ways: by direct deposit to your financial institution, by wire to your financial institution, and by check through the mail to your address on record. For restrictions on receiving redemption proceeds by direct deposit or by wire, please see the list of account transaction features.
If you request to receive your proceeds by check, then your redemption check will be made payable to the owner(s) of the account and mailed to the address on the account. We established these procedures for security purposes.
We recommend before you submit your online sell request that you verify the address on your account is correct by checking your address in Online Account Access, a recent account statement or by calling Shareholder Services at 800.548.4539 between 8:00 a.m. and 8:00 p.m. Eastern time, Monday through Friday.
If you wish for the check to be made payable to someone other than the account owner(s), you must submit your request in writing, and the signatures of all shareholders of record must be medallion guaranteed. For more information on selling shares and signature guarantees, please see the section How To Sell Your Shares located in the Prospectus.
If you redeem shares following a purchase by check, the Fund may hold the proceeds of your redemption for up to 15 calendar days to ensure that the check has cleared.
Additional Assistance
If you have any questions about using Online Account Access, please call 800.548.4539 from 8:00 a.m. to 8:00 p.m. Eastern time, Monday through Friday.
Outside the United States, please call 816.843.7368 from 8:00 a.m. to 8:00 p.m. Eastern time, Monday through Friday.
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