European Stars And Stripes (Newspaper) - October 2, 1988, Darmstadt, Hesse Page 20 the stars and stripes sunday october 2,198b investor s guide by Bill Doyle liquidate my holdings in a Mutual fund account i am told i need to Fri a letter stat ing such and o be signed by me in the an officer of my Hank. Thai would put me in the mercy of the is. Postal Surritt and the fund s Doyle management h to the amount 1 receive. Why cannot a phone Call immediately be made by Ray investment Counselor to Complete this runs motion a. In can with most Mutual funds. The vast majority of funds allow investors to Cash in their shares by making a simple phone Call. Assuming your Mutual fund has a Telephone redemption arrangement and you have signed up for it you Don t even need that investment Counselor. You can do in yourself. After you make a Call to redeem shares of the typical Mutual fund you can receive the proceeds of the shares redeemed by Check through the mail or you can have the Money transmitted by wire to your Bank. Although the arrangements for redeeming Mutual fund shares Are relatively simple the methods can vary from one fund to another. You la find the exact redemption procedure for your fund spelled out in that fund s prospectus an updated version of which is mailed 10 you annually. If your fund insists on gelling a letter your signature on the redemption req Ucol must be Guaran teed by a commercial Bank Trust company or brokerage firm. But a written redemption request nor Mally is required Only when you have your shares in certificate form. Most Mutual fund investors do not request certificates. In Stead they leave their shares with funds custodian Banks. Q. When i phoned a Mutual fund to redeem my shares the person 1 spoke to could not Tell me the Price i would gel. She said that Price would be determined at the end of Thedna. 1 culled before noon. By could t i get us then current Price a. Because the securities and Exchange commission requires Mutual nods to use Forward whether you Are buying or re deeming fund shares you get the next Price set after your order is received. As a result there s no Way of knowing in Advance the Price at which you buy or redeem Mutual fund shares. Every Mutual fund is required to Price its shares at the 4 p.m., Eastern time closing of uie new York Slock Exchange every Busi Ness Day. Some funds do in More frequently but most just once a Day. A Mutual fund prices its shares by adding up All its assets mostly stocks Bonds or other securities 11 holds As investments deduct ing its liabilities and dividing by the number of fund shares owned by investors. The resulting number is the fund s net asset value per share. That s the Price you get when you redeem shares unless the fund has a car and Load in the form of a redemption fee or con Tingent deferred sales charge. Business news Market reclaims 2100 level new York up1 the Stock Market broke out of its recent malaise for one Day last week and on the strength of that Bounce the Dow reclaimed the 21001evel. The Dow Jones Industrial avenge which fell fi.40 Friday closed the week at 2112.91. For the week however the Blue Chip Index gained 22.23 Points. The week began with analysis describing the Market As Dull lethargic and directionless and the numbers confirmed those characterizations. On monday the Dow fell 5.51 on vol ume Oft 16.4 million shares. On tuesday the Dow slipped 2.84 on volume of 113 million. And on wednesday while the Dow tacked on 3.20, volume remained anaemic at 113.7 million shares. This is the dullest of markets one analyst said at midweek. Thai Oil changed thursday As volume increased to 15578 million shares and the Dow surged 33.78 to close above 2100 for the first time in iwo weeks. On Friday the Market failed to extend the rally Ana closed mixed. The Dow jumped nearly 17 Points in the Early going and held a 9-Poinl gain entering the final hour of the session be fore the pullback accelerated. Broad Market indicators gained on the week. The new York Slock in change composite Index Rose 1.19 to 153.57. Standard and poor s 300-Slock Index added 2.15 to close the week at 271.91, advances led declines 1,065-722 among the 2,136 issues traded. Big Board volume. Totalled �74,692,279 shares compared with 701,219,700 the previous week and 927,003,660 a year ago. On the nose trading floor last week. Ism was the Moat Active Issue gaining Ivi to 115�i. The company s Board authorized the company to continue Pur chases of its Stock with a total expend lure of up to $2 billion. Southern California Edison followed off w to 32%. 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