Investment vehicle introduced in 1999 that appeals to wealthy investors with large holdings in a single stock who want to diversify without paying capital gains taxes. These funds allow investors to exchange their stock for shares in a diversified portfolio of stocks in a tax-free transaction.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). exchange fund (also known as swap fund). Retrieved October 1, 2026, from http://smartdefine.org/exchange_fund_(also_known_as_swap_fund)/definitions/1153336 |
| Chicago | Barry Goldsmith. 2010. "exchange fund (also known as swap fund)" http://smartdefine.org/exchange_fund_(also_known_as_swap_fund)/definitions/1153336 (accessed October 1, 2026). |
| Harvard | Barry Goldsmith 2010, exchange fund (also known as swap fund), Smart Define, viewed 1 October, 2026, <http://smartdefine.org/exchange_fund_(also_known_as_swap_fund)/definitions/1153336>. |
| MLA | Barry Goldsmith. "exchange fund (also known as swap fund)" 21 October 2010. Web. 1 October 2026. <http://smartdefine.org/exchange_fund_(also_known_as_swap_fund)/definitions/1153336> |