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 |
|
Tuesday, September 26, 2000 Strong Goes Load In the battle between load and no-load distribution strategies there is more evidence that commissions pay-off in increased distribution. Strong Capital Management has now said it will join the ranks of load fund families. The Menomonee Falls, Wisconsin based fund family has filed to start a new family, dubbed Strong Advisor, on November 30. Randy Henze, managing director of Strong Intermediary Services, will oversee the new family. John Pahmeier also of Strong Intermediary Services explained that Strong believe financial advisors "add considerable value" to clients. The Strong Advisor family will launch with nine offerings, including three newly created funds and six funds that are converting from no-load to load status. The three new funds are: Strong Advisor Focus, Strong Advisor Aggressive High-Yield, and Strong Advisor Technology Fund. The six funds that are converting are: Strong Common Stock, Strong Equity Income, Strong Mid Cap Growth, Strong Small Cap Value, Strong Bond, and Strong Short-Term Global Bond Funds. Common stock is currently closed to new investors but will reopen to investors who pay the load after the conversion. Strong said that it is making this change to expand its distribution to a wider group of investors, said founder Dick Strong. It also hinted that it believes investors still want the assistance of brokers even in this day of information overload. "We are expanding our distribution to serve a wider group of investors, particularly those who want the benefit of the advice and guidance provided by a broker or financial advisor," says Brad Tank, member of Strong's Office of the CEO. "The Strong load family of funds will be a powerful complement to our ongoing commitment to the no-load market, where Strong is a market leader." Printed from: MFWire.com/story.asp?s=25925 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |