After you receive an invitation to join the Cache Exchange Fund, the process to transfer shares from other brokerages to the fund typically involves the following steps.
To avoid missing your target close date, give yourself at least 15 days before your close date to initiate your stock transfer. Getting started early helps provide a buffer for any issues along the share and cost basis transfer process.
Account Setup: You or your advisor will open a brokerage account in your name with Cache. You may also hold title in the name of your revocable trust or another entity you control.
Transfer of Shares: Once the account is established, shares can be transferred from the current brokerage (e.g., Schwab, Fidelity, e-Trade) to Cache. This transfer is facilitated through standard automated brokerage transfer processes using ACATS if initiated on the Cache platform, or DTC Transfer if initiated on counterparty brokerage.
Transfer of cost basis: For ACATS transfers, cost basis usually arrives with your shares; for DTC transfers, you'll supply it yourself in the portal. Either way, Cache needs it confirmed at least one business day before the close date.
Fund Signoff: Before the close date, you’ll sign off on the subscription documents and confirm your intention to participate in the fund.
Fund Close Date: On the fund's closing date, post market close, your shares are automatically accepted into the fund.
This streamlined process is designed to be efficient and completely automated, minimizing the need for extensive paperwork and manual intervention.
See a more detailed look at the entire allocation and subscription process.