Householding Rules

Investors often invest in funds through a variety of individual and family accounts and, as a result, sometimes receive multiple copies of the same documents from those funds.  To avoid duplication, the SEC allows funds to deliver a single copy of the same document to investors who share the same address.

The SEC’s so-called "householding rules” cover prospectuses, annual and semi-annual reports, and proxy and information statements.  Shareholder notice is necessary in order for a company to take advantage of these householding rules.  Investors at the same address who prefer to receive multiple printed copies of the same document or documents may continue to do so.  They can opt out of householding by contacting their financial professionals or the fund. 

Also, although a company may be able to send a single household proxy statement, separate proxy cards must still be sent for each account.  The consolidation of informational materials doesn’t affect the shareholder’s entitlement to cast his/her own vote.

Learn more about Delivery of Disclosure Documents to Households.

Learn more about Delivery of Proxy Statements and Information Statements to Households.