MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, July 8, 2009 Six More Funds Ax B Shares Another fund firm has joined what is quickly turning into a mass abandonment of B-shares. An SEC filing dated July 7 revealed that Praxis Funds will be dropping the Class B Shares of the MMA Intermediate Income, Core Stock, International, Value Index, Small Cap and Growth Index Funds. The shares will be closed on August 14 and converted into Class A Shares of the respective funds. Class B shares will be closed to new investors beginning July 14. Class B shares are currently offered at NAV with no up-front sales charge, and sales of the shares before the fifth anniversary of purchase are subject to a deferred sales charge. First American Funds dropped B shares from five of its funds in June (see The MFWire, 6/09/09), and American Funds and Evergreen Investments also scrapped such shares from their lineup in April. The MMA Praxis funds are a faith-based family of seven funds that participate in company screening, shareholder advocacy and community development investing. Printed from: MFWire.com/story.asp?s=22010 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |