Buying Shares

  • Minimum Investments

    • Minimum Investment Amounts
      • Type of Account
      Minimum Investment
      To Open Account
      Minimum Subsequent
      Investments
      Regular
      IRAs
      $5,000
      $1,000
      $1,000
      $100

    • Automatic Investment Plan Members
      • Type of Account
      Minimum Investment
      To Open Account
      Minimum Subsequent
      Investments
      Regular
      IRAs
      $5,000
      $1,000
      $100 per month minimum
      $100 per month minimum

  • By Mail
    To make your initial investment in the Fund, simply complete the Application Form, and make a check payable to The Cook & Bynum Fund, and mail the Form and check to:

    The Cook & Bynum Fund
    P.O. Box 13215
    Denver, Colorado 80201

    Overnight Mail:
    The Cook & Bynum Fund
    c/o ALPs Fund Services
    1290 Broadway, Suite 1100
    Denver, Colorado 80203

    To make subsequent purchases, simply make a check payable to The Cook & Bynum Fund and mail the check to the above-mentioned addresses. Be sure to note your Fund account number on the check.

    Your purchase order, if accompanied by payment, will be processed upon receipt by the Transfer Agent. If the Transfer Agent receives your order and payment by the close of regular trading on the NYSE (currently 4:00 P.M. Eastern Time), your shares will be purchased at the Fund's NAV calculated at the close of regular trading on that day. Otherwise, your shares will be purchased at the NAV determined as of the close of regular trading on the next business day.


  • Wire Transfer
    Before you wire funds for an initial investment, the Transfer Agent must have a completed Application. You may send an Application to the Transfer Agent by mail or overnight delivery service. If you plan to wire funds on the same day you open your account, the Fund will accept a fax copy of the Application; however, the Transfer Agent will still require the original Application. A redemption restriction will be placed on the account until the original application is received. Upon receipt of your completed Application, the Transfer Agent will establish an account for you and assign an account number. So that your monies may be correctly applied to your account, your bank’s wire instructions must read as follows and must contain the name of the Fund, the name of the shareholder account and the account number assigned by the Transfer Agent. Your bank should transmit funds by wire to:

    State Street Bank and Trust Co., ABA #011000028
    Credit: The Cook & Bynum Fund, Acct. #: 00065441
    Further Credit: The Cook & Bynum Fund,
    Acct # [Your name and Account number]


    Prior to sending subsequent investments, please contact a Cook & Bynum Fund representative at 1-877-839-COBY so that the Fund knows to expect your wire transfer. This will ensure prompt and accurate credit upon receipt of your wire.

    Wired funds must be received prior to 4:00 p.m., EST, to be eligible for same day pricing. The Fund and the Transfer Agent are not responsible for the consequences of delays resulting from the banking or Federal Reserve wire system, or from incomplete wiring instructions.

    Please note that your financial institution may charge a fee to wire funds.


  • Through Financial Services Organizations
    You may purchase shares of the Fund through participating brokers, dealers, and other financial professionals. Simply call your investment professional to make your purchase. If you are a client of a securities broker or other financial organization, such organizations may charge a separate fee for administrative services in connection with investments in Fund shares and may impose account minimums and other requirements. These fees and requirements would be in addition to those imposed by the Fund. Securities brokers and other financial organizations have the responsibility of transmitting purchase orders and funds, and of crediting their customers' accounts following redemptions, in a timely manner in accordance with their customer agreements.

    If you place an order for Fund shares through a securities broker, and you place your order in proper form before 4:00 p.m. Eastern Time on any business day in accordance with their procedures, your purchase will be processed at the NAV calculated at 4:00 p.m. on that day, provided the securities broker transmits your order to the Transfer Agent in a timely manner in accordance with the rules established by the Fund and current regulatory requirements. The securities broker must send to the Transfer Agent immediately available funds in the amount of the purchase price within three business days of placing the order. In the event that a securities broker or other financial organization fails to transmit purchase orders and funds in a timely manner, the Fund has the right to cancel the trade. If for any reason your financial institution is not able to accommodate your purchase request, please call a Cook & Bynum Fund representative toll-free at 1-877-839-COBY to find out how you can purchase Fund shares.


  • Automatic Investment Plans
    Subsequent to your initial investment, you may make additional purchases at regular intervals through the Automatic Investment Plan (the “Plan”). The Plan provides a convenient method to have money deducted directly from your checking or savings account for investment in shares of the Fund. In order to participate in the Plan, your financial institution must be a member of the Automated Clearing House (“ACH”) network however the account being debited may not be a mutual fund or “pass through” account. Each purchase under the Plan must be a minimum of $100 per month. To begin participating in the Plan, please complete the Plan section on the Application or call Shareholder Services at 1-877-839-COBY. Any request to change or terminate your Plan should be submitted to the Transfer Agent five days prior to effective date. The Fund may alter, modify, amend or terminate the Plan at any time, and will notify you at least 30 days in advance if it does so.


  • By Telephone
    In order to be able to purchase shares by telephone, an account authorizing such purchases must be established prior to your call. Your initial purchase of shares may not be made by telephone. Telephone purchases must be a minimum of $1,000 for both regular accounts and IRA accounts. If your telephone order for Shares is placed and received by the close of regular trading on the NYSE (currently 4:00 p.m. EST), your Shares will be purchased at the Fund’s NAV calculated at the close of regular trading on that day. Otherwise, your Shares will be purchased at the NAV determined as of the close of regular trading on the next business day.

    You may make purchases by telephone only if you have an account at a bank that is a member of the ACH network. Most transfers are completed within three business days of your call. To preserve flexibility, the Trust may revise or eliminate the ability to purchase Fund shares by phone, or may charge a fee for such service, although the Trust does not currently expect to charge such a fee.


  • Other Information
    The Fund reserves the right to refuse or accept Applications or purchase orders and reserves the right to waive the minimum investment amounts. Purchase orders will not be accepted unless they are in “Proper Form.” Proper Form with respect to purchase orders generally means that an acceptable form of payment accompanies the purchase order and the purchase order includes:

    1. Your account number;
    2. The number of shares to be purchased or the dollar value of the amount to be purchased;
    3. Any required signatures of all account owners exactly as they are registered on the account;
    4. Any required Medallion signatures guarantees; and
    5. Any supporting legal documentation that is required in the case of estates, trusts, corporations, or partnerships, and certain other types of accounts.

    Acceptable forms of payment include: wire transfer or check drawn on a U.S. bank, savings and loan association or credit union. Furthermore, for the protection of existing shareholders, although the price received for an order is the NAV next determined after the order has been received, payment for purchase orders exceeding $500,000 is accepted and the order is processed at such time that: (i) if payment is made by check, the amount of the check is cleared by the U.S. bank, savings and loan association or credit union upon which the check is drawn; or (ii) if payment is by wire transfer, the funds are received by the Fund. All checks must be in U.S. dollars drawn on a domestic bank. The Fund will not accept payment in cash or money orders. The Fund also does not accept cashier’s checks in amounts of less than $10,000. To prevent check fraud, the Fund will not accept third party checks, Treasury checks, credit card checks, traveler’s checks or starter checks for the purchase of Fund shares. We are unable to accept post-dated checks, post-dated on-line bill pay checks, or any conditional order or payment. The Transfer Agent may charge the shareholder’s account for any loss sustained by the Fund, for any payment that is returned. It is the policy of the Fund not to accept Applications or purchase orders under certain circumstances or in amounts considered disadvantageous to shareholders. The Fund reserves the right to reject any Application.

    A purchase order placed with the Transfer Agent in Proper Form received prior to 4:00 p.m., EST, will be processed on the day it is received. A purchase order in Proper Form received after 4:00 p.m., EST, will result in the order being processed on the following business day.

    If you place an order to purchase Fund shares through a securities broker and you place your order in Proper Form before 4:00 p.m., EST, on any business day in accordance with its procedures, your order will be processed at the NAV next calculated following the close of regular trading on the NYSE that day, provided the securities broker or intermediary transmits your order to the Transfer Agent in a timely manner in accordance with the rules established by the Fund and current regulatory requirements. The securities broker or intermediary must send to the Transfer Agent immediately available funds in the amount of the purchase price within one business day of placing the order. In the event that the securities broker or intermediary fails to send the Transfer Agent such funds within one business day of placing the order, the securities broker or intermediary will be responsible for any resulting loss.

    After you have established your account and made your first purchase, you may also make subsequent purchases by telephone with an authorized bank account. Please note that all telephone orders are subject to verification. In addition, Fund purchases in excess of $500,000 will be subject to the payment requirements described in this section.

    Consistent with current regulatory requirements, it is permissible for financial intermediaries and retirement plan record keepers to aggregate mutual fund orders received prior to 4:00 p.m., EST, and transmit them to the Transfer Agent after 4:00 p.m., EST.