No, to invest in the mutual fund an investor must be a resident of the United States and have a brokerage account registered with a U.S. tax ID and a U.S. mailing address.
The mutual fund is available through numerous brokerage firms including: Charles Schwab, TDA, Interactive Brokers, E*Trade, Vanguard, Fidelity, and many other smaller broker dealers. The fund is not available at Morgan Stanley, Wells Fargo, UBS, Merrill Lynch, or J.P. Morgan. If you have further questions please contact Standpoint by emailing email@example.com.
The mutual fund can be purchased in a similar way to purchasing a stock or an ETF. When logged into your account at your brokerage firm there is generally an option within the portal for trading mutual funds. If you navigate to that webpage of your brokerage portal you can buy the fund by typing in the ticker symbol BLNDX or REMIX, choosing a dollar amount or number of shares to purchase, and then placing the order to purchase the fund.
The only fees an investor will pay Standpoint is the net expense ratio which is 1.27% for BLNDX and 1.52% for REMIX. BLNDX has a gross expense ratio of 1.94% but Standpoint is contractually obligated through February 28, 2023 to pay any expenses above 1.24% so that shareholders of the fund do not experience that expense drag. Similarly, REMIX has a gross expense ratio of 2.19% for which Standpoint is contractually obligated through February 28, 2023 to pay any expenses above 1.49% for the same reasons. We plan to renew the expense limitation contract annually; therefore we do not expect the net expense ratio for either share class to change meaningfully.
Returns for both share classes are reported net of fees.
Depending on the brokerage firm used to purchase the fund and which share class is purchased, you may also be required to pay a transaction fee to that brokerage firm. You can contact your brokerage firm to confirm the transaction fee amounts for each share class.
You can also calculate the estimated cost of either share class by downloading this excel document.
Depending on the brokerage firm you are using and your account type there may be a required minimum investment amount to purchase the fund. Standpoint requires a $25,000 minimum investment for BLNDX and a $2,500 minimum investment for REMIX, however, the required minimum investment may be higher or lower depending on your account type and brokerage firm. You can contact your brokerage firm to confirm the investment minimums for each share class.
Mutual funds are required to distribute realized capital gains and ordinary income to shareholders each year. Standpoint makes its annual distribution in December. At the time of the distribution, the share price of the mutual fund will decrease by the amount distributed to shareholders. For more information on the annual distribution click here.