Angelo A. Calvello
, was appointed president and executive director
of the 100% No-Load Mutual Fund Council
. Calvello joins the industry trade association of mutual fund companies with the aim of introducing new educational programs for investors.
"It is critical that investors fully understand the true costs associated with mutual fund investing," Calvello said in a prepared statement. "Sales charges of all sorts have a direct and often immediate impact on performance. While the current bull market has brought about 'headline making' market highs, it has also done much to hide the impact of these charges."
"As a trade association, the Council's function is to provide members with information that can help them get a better understanding of the financial services industry." Grant Duffield
, chairman of the Council, said. "Mr. Calvello's previous experience as a Senior Vice President of Analytic Funds, a no-load mutual
fund company, makes him ideally suited to assist our members with their own business development. And as a former Board
member of the Council, he understands our goals and our objectives."
Calvello is the President of C/79 Consulting LLC. Previously, he was senior vice president of Analytic Funds and also served as vice president of product marketing at the Chicago Mercantile Exchange.
The ten year old 100% No-Load Mutual Fund Council is an industry association of 28 pure no-load open-end investment companies. Membership in the Council requires that there be no front-end or contingent deferred sales charges, 12b-1 fees, dividend re-investment charges, or long- term redemption fees associated with the funds. Its objective is to provide educational information on the benefits of true no-load mutual funds.
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