Definitions for "exchange privilege"
A feature offered by some mutual fund families in which an investor is able...
A privilege that allows a fund shareholder to exchange shares of one fund for the shares of another in a family of funds without incurring an additional sales charge. Such an exchange may be a taxable event.
Also known as conversion privilege, it allows you to transfer investments from one fund to another. Some brokers and fund families charge for these transactions.
Keywords:  excise, exemption, tax
excise tax exemption