No Transaction Fee Mutual Fund Platform
Pershing FundVest Focus®
Our clearing broker, Pershing LLC, offers access to certain no-load mutual funds for zero commissions through their FundVest Focus® program. If you invest a minimum of $2,500 in any one of these selected funds and hold your shares for a minimum period of six months, Saturna will waive the commissions for purchases and sales.
(or prospectus minimum, whichever is greater)
|Automatic purchase plans||$100|
|Holding period||6 months|
|Short-term holding penalty||$50
(plus early redemption penalty and/or
back end sales load charged by fund, if applicable)
Alternatively, Pershing maintains a mutual fund "supermarket" of thousands of mutual funds from which to choose. Many of these funds are subject to Saturna's ordinary $14.95 commission ($24.95 for broker assisted trades) or charge commissions according to their own load schedule (please see an individual fund's prospectus or summary prospectus for details). However, some mutual funds have chosen not to be included on Pershing's platform. These funds are likely to charge more for access to their shares. Some non-participating funds may have an additional surcharge to help cover cost of distributing the funds. Please contact a Saturna representative to obtain a list of non-participating funds.
Please note: Not all mutual funds are available through these programs. Some mutual funds without selling agreements in place with Saturna Brokerage Services may decline purchases. In some cases, it may be possible to establish a selling agreement with a fund family that does not currently have one.
Pershing may receive servicing fees from mutual funds that participate in Pershing's FundVest program in lieu of clearance charges to Saturna. Saturna may share with Pershing in such fees. These fees may be considered revenue sharing and are a significant source of revenue for Pershing and may be a significant source of revenue for Saturna. These fees are paid in accordance with an asset-based formula.