Transfer a closed fund to a friend

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Transfer a closed fund to a friend

Post by MorningstarFan » Thu Feb 09, 2017 3:13 am

Hi all,

I currently own a mutual fund which is currently closed to new investors in my TD Ameritrade account. Is it possible to gift the shares to my friend, and once he becomes the fund owner, he can then invest on his own? Are there any restrictions or laws to prevent that?

This is just for taxable account, not under IRA or retirement accounts.

Thank you all for the help!

Posts: 5161
Joined: Tue Feb 20, 2007 4:49 pm
Location: Charlotte NC

Re: Transfer a closed fund to a friend

Post by cherijoh » Thu Feb 09, 2017 6:13 am

I don't think there is a blanket answer to that question. I would start with the prospectus for the closed fund and if that doesn't answer your question, I would contact the fund sponsor.

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