I have an account with a National Association of Securities Dealer. This scurrility dealer has a short term trading policy that requires a 180 day holding period on all purchases of a mutual fund. When I read the prospectus of the mutual fund, specifically "Dodge & Cox International Stock Fund " I can not find any specific holding time, i., e., six months. My question "What is considered to be excessive trading " I bought the Dodge & Cox International Fund about two months ago and wanted to do an exchange but was refused due to the less than sis months holding period.
George, get out of the thing altogether. Threaten to sue the broker if they don't follow your liquidation instructions.
Remember the mutual fund trading scandals a few years ago? This is a cover your ass move. I used to work for one and part of my job was to shut down market timers, turns out they were mostly hedgies trying to clear through different brokers. Shut em down with one broker one day and they were back tomorrow with another, mostly international arb. You could tell by their size and timing who they were. They could easily rape the fund for $250,000 on a day with no risk with the international funds.