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, January 22, 2003 ABN AMRO Adds C & R Shares 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). Printed from: MFWire.com/story.asp?s=4402 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |