Yet another fund firm has halted trading of certain mutual funds' B shares. Effective August 1, Thornburg Investment Management stopped selling class B shares of its Government Fund, Value Fund and International Value Fund. Such shares will be converted to A shares at the end of eight years. Thornburg joins Praxis, First American and American Funds in their recent abandonment of the share class.

“The third-party entity that finances commission payments on the sale of Thornburg B shares is withdrawing from the marketplace," explained Leigh Moiola, Managing Director of Thornburg, in an emailed statement. "Therefore, due to the lack of B share interest, it was an opportune time to withdraw.” 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE