ReFlow serves as a benevolent shareholder, buying and selling shares to offset shareholder flow. For qualifying funds, ReFlow can be redeemed in-kind.
With ReFlow’s Redemption Service, mutual funds have access to a shareholder on demand to insulate the portfolio from redemptions and subscriptions.
There are no set up or maintenance fees, the fund only pays a fee when it wins capital in our daily auction.
Redemption Service Advantages:
Handle shareholder flow more efficiently
ReFlow provides cash to meet redemptions and nets out volatile shareholder flow, allowing funds to reduce cash drag and eliminate unnecessary trading.
ReFlow helps avoid forced selling due to redemptions and allows qualifying funds to meet ReFlow's redemption with an in-kind distribution of securities, like an ETF.
Keep portfolio holdings proprietary
ReFlow does not require disclosure of underlying portfolio holdings.
Reduce time spent managing shareholder flow
ReFlow can aggregate net-redemptions over a one week period, significantly reducing resources dedicated to providing daily liquidity to shareholders.
How It Works
ReFlow’s Redemption Service utilizes the mechanisms funds already have in place. No changes to existing operations are required once the service is set up.
Capital is allocated through a Dutch Auction process, just like T-Bills and US Treasuries. The minimum bid is 14 basis points; highest bids are filled first.
Participation can be fully automated so that a standing bid is triggered whenever various conditions are met.
ReFlow’s position will be redeemed into any net shareholder subscription. Any remaining ReFlow position will be redeemed in cash or, for qualifying funds, with securities “in-kind” anytime by fund request or at the end of 8 days.
Fees & Costs
No set-up or maintenance charges. Fees are transaction-based, transparent, and qualify as a bona-fide fund expense. Mutual fund board approval is required.
Find out more.
For more information on ReFlow's Redemption Service, or to speak with a member of our team, contact us via the form below.
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650 California Street, Suite 2700 San Francisco, CA 94108