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The maximum up front sales charge for Fixed Income and Short-Term Bond Portfolios will be reduced to 4 percent from 5 percent
First American Funds has also reduced upfront sales charges from 1.
5 percent sales charges respectively, will now have no sales charge.
41 million for its failure to provide investors with sales charge discounts in eligible UIT transactions, its failure to ensure that investors received the benefit of Net Asset Value (NAV) transfer programs in applicable mutual fund purchases and for suitability violations related to the sale of Class B and C mutual fund shares.
COLUMBUS, Ohio, June 8 /PRNewswire-FirstCall/ -- Huntington Bank (Nasdaq: HBAN) today announced that Huntington Funds investors can now combine any mutual funds that have a sales charge (also known as load-bearing mutual funds) toward discounts on Huntington Funds acquisitions, exclusively through The Huntington Investment Company.
Sales charges, annual operating expenses and detailed breakpoint sales charge discount schedules.
Class B shares typically do not charge a front-end sales charge, but they do impose asset-based sales charges that are generally higher than those associated with Class A shares, and also impose a contingent deferred sales charge (CDSC) which the investor may pay at the time of sale.
The asset-based fee reductions are available to service programs without contingent deferred sales charges.
Mutual funds have different classes of shares representing interests in the same portfolio of securities, but differing in the structure and amount of sales charges paid directly by shareholders as well as the continuous, assets-based fees assessed on each shareholder's investment.
During 2002 - 2004, many mutual fund families offered NAV transfer programs that eliminated front-end mutual fund sales charges for certain customers.
Performance data used for the rankings does not account for any up-front sales charges or contingent deferred sales charges.