Mutual fund companies are required to search for and contact lost shareholders in accordance with SEC Rule 17ad-17. While the Rule is intended to help shareholders retain control of their assets, there are always shareholders who fail to bring their accounts up-to-date, even after the required database searches and mailings. Moreover, since the Rule omits deceased shareholder accounts from further searches, individuals entitled to the assets of deceased shareholders might never even know the asset exists. It is estimated that fund companies escheat millions of dollars every year as a result.

Connect’s cost-free Asset Rescue for Mutual Funds can help fund companies retain these assets by assisting lost shareholders and individuals entitled to the assets of deceased shareholders in claiming the assets they are due. Through Connect’s program, we will find and contact those shareholders who did not respond to mailings, as well as individuals entitled to the assets of deceased shareholders. Once we find them, we will provide them with any help they may need to regain control of their assets. The program gives your fund company an additional layer of support in helping to retain assets under management that might otherwise be escheated, while also offering a valuable service to shareholders.