MutualFundWire.com: FirstHand To Institute Redemption Fees
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Monday, May 1, 2000

FirstHand To Institute Redemption Fees


Beginning on July 1, 2000, new investors in all five of San Jose's FirstHand Funds will pay a 2% redemption fee for shares redeemed within the first three months.
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Shareholders of The Communications Fund and The e-Commerce Fund who redeem funds within the first three months after purchase currently pay the fee.

As with most fund companies, the stated goal of the fees is to "minimize the impact of short-term trading on mutual funds and to protect the interests of long-term investors," in other words, discourage market timers from bouncing in and out of hot funds.
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