redemption request

The fund allows investors to exit only twice a year, and redemption requests for the latest period were due by May 31.

A: A spokesman for Vanguard confirmed that the account statement issued after a redemption request does not list specific lots of shares sold.

Then there are the trades that are intended primarily to meet redemption requests or to put new cash to work in the market.

Over the weekend, too, fund investors made substantial redemption requests, particularly at Fidelity, the country's largest fund company.

Among them, Fidelity now tracks hourly levels of incoming cash and redemption requests from shareholders.

Funds try to keep cash on hand to meet redemption requests but must often sell shares to fulfill customers' orders.

These funds also received substantial redemption requests over the weekend.

According to a letter to investors in 2000, Gotham Partners had received $108 million in redemption requests, almost a quarter of its capital.

In 2002, one investor said, the fund had redemption requests for an additional 25 percent of its capital by September.

According to the letter, Monday was the deadline for Oct. 31 quarterly redemption requests.