Investors can withdraw their money from a mutual fund by selling, or redeeming, all or part of their mutual fund units on any business day at the net asset value (less any applicable sales charges).

Investors may redeem their fund units by contacting their financial advisor. In most cases, mutual fund companies send investors the money from the sale of their fund units three days after they have received instructions.

Under the deferred sales charge option, investors can redeem a certain number of units annually without having to pay a charge ("free redemption entitlement"). Any withdrawals above that amount will be subject to a deferred sales charge.

To reduce the fees you pay when redeeming units of a fund, we will first redeem units for which a deferred sales charge either is not applicable or is no longer applicable.

Units of Renaissance Investments funds may be redeemed at any time (redemption charges and short-term trading charges may apply).

Complete details regarding redemptions, including the calculation of the free redemption entitlement, are outlined in the Simplified Prospectus.