8 million for failing to waive mutual fund sales charges
for certain charities and retirement accounts.
rd] after five years including sales charge
UIT sponsors generally offer sales charge
discounts to investors, known as 'breakpoint discounts' and 'rollover and exchange discounts.
Investments between $250,000 and $499,999 will now have a sales charge
First American Funds has also reduced upfront sales charges
The low-load sales charge
option has become increasingly popular as it offers a shorter sales charge
redemption schedule (typically three-four years) versus a fund purchased with a standard six year sales charge
Not only will this generate one-time sales charge
savings, it will create future savings for additional Huntington Funds investment as aggregate holdings grow.
Under an NAV transfer program, customers who redeemed fund shares for which they paid a sales charge
were permitted to use those proceeds within prescribed time periods to purchase Class A shares of a new mutual fund at NAV - that is, without paying another sales charge
During the relevant period, UIT sponsors generally offered sales charge
discounts to investors, known as "breakpoint discounts" and "rollover discounts.
Securities firms must learn all of the relevant pricing features of the fund shares they sell and ensure that eligible investors receive all available discounts and sales charge
waivers, without exception.
, annual operating expenses and detailed breakpoint sales charge
Class A shares typically charge a front-end sales charge
and also may be subject to an asset-based sales charge
, but it generally is lower than the asset-based sales charge
imposed by Class B or Class C shares.