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Will Swing Pricing Be DOA?

The SEC, as part of their initiative around the new liquidity rule, has given the green light for funds to implement Swing Pricing. For those not familiar with the Swing Pricing concept, basically it allows a fund to bump up or down their end of day NAV to help cover their increased transactional costs when market volatility causes higher than normal purchases or redemptions. It will be voluntary for a fund company if they want to implement Swing Pricing. Funds are prohibited from implementing it until November 19, 2018, in order to give those funds that do not have experience with Swing Pricing time to implement needed system changes. Swing Pricing is popular in Europe and those funds with a presence in Europe would perhaps have an advantage in being able to implement earlier than other funds, hence the delayed date.

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Burton Keller
L. Burton Keller was a principal founder of the company in 1985 and currently focuses on strategic initiatives for the company. Mr. Keller also serves as company representative to the DTCC and is an active member of the Bank, Trust and Retirement Advisory Committee of the Investment Company Institute.