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Rating:ABN AMRO Adds C & R Shares Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 22, 2003

ABN AMRO Adds C & R Shares

by: Ki Kim

Chicago-based ABN AMRO Funds is now offering C Class Shares (level load) and R Class Shares (retirement) in a bid to expand distribution, confirmed Mike Castino, director of marketing at the firm. The R shares pay a 12b-1 fee of 50 basis points, while the C shares offer a one percent up front commission and one percent trail fee that kicks in after the first 12 months.

The C shares help brokers to continue transitioning to fee-based models, said Castino, adding that many wanted smaller up front payouts and a larger trail fee.

The large-cap ABN AMRO/Chicago Capital Growth Fund now offers both share classes and the jumbo-cap ABN AMRO/Montag & Caldwell Growth Fund offers the new R shares. Both funds already offer retail (N) and institutional (I) class shares.

"We decided to make C shares available in response to the many inquiries we've received from financial intermediaries," said Kenneth Anderson, president and CEO. "This is the first time we are offering a level load product which gives more intermediaries the option of using our Fund."

"In addition," he continued, "we designed our new R shares especially for the small 401(k) market. The new class is structured to help manage the rising costs of record keeping."

Chicago Capital features Bernie Myszkowski (35+ years) and Rick Drake (18+ years); Montag & Caldwell features Ron Canakaris (34+ years). 

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